Revised Results For Financials for the Quarter/year ending 31/03/2025
Awaiting price reaction for this filing.
Suryachakra Power Corporation Limited has filed its quarterly and annual financial results for Q4/FY 2025 ended March 31, 2025. The company is under liquidation proceedings initiated by NCLT in September 2022, and was sold as a going concern to Indo Aquatics Limited (later assigned to Reddy Investments Private Limited) in June 2023. The Statutory Auditor issued a modified conclusion citing multiple unresolved matters including: inability to verify fixed assets, inventories, trade receivables/payables ageing, contingent liabilities, and MSME vendor details. Additionally, the company failed to obtain actuarial valuation for employee gratuity, did not account for interest expenses on certain loans since 2014, and has incomplete related party disclosures. The takeover and restructuring process reportedly remains incomplete as of the reporting date.
The stock carries very high risk due to ongoing liquidation proceedings, auditor's modified opinion, and multiple unresolved accounting/verification issues. Shareholders face significant uncertainty regarding the company's future operations and financial position.