Revised outcome
Awaiting price reaction for this filing.
Nicco Uco Alliance Credit Limited reported a net loss of Rs. 1585.51 Lakhs for FY2026, compared to a loss of Rs. 1383.18 Lakhs in the previous year. Total income from operations was only Rs. 44.60 Lakhs. The company has a severely negative net worth of Rs. 70,358 Lakhs (Other Equity stands at negative Rs. 70,358 Lakhs). The auditors (BCAG & Associates) issued a Qualified Opinion citing: (a) RBI cancelled the company's NBFC license in 2006 with appeal still pending, (b) non-confirmation of bank balances for NPA accounts, (c) non-charging of interest on consortium dues resulting in Rs. 2,482 crore reduction in losses, and (d) actuarial valuation not done as per IND-AS-19. SFIO proceedings are pending against the company.
This is an extremely distressed company with negative net worth, persistent heavy losses, and a qualified auditor opinion questioning the going concern assumption. The RBI license cancellation and SFIO proceedings add regulatory risk. Shareholders face very high risk of value destruction.