Revised Standalone and Consolidated Financial Result (Statement on impact of Audit Qualification) for Quarter and Year ended 31st March 2025
Awaiting price reaction for this filing.
Atcom Technologies filed a revised set of financial results along with the previously missing Statement on Impact of Audit Qualification, after BSE raised a query on the original submission. The auditor issued a Disclaimer of Opinion on the standalone results, citing inability to verify trade receivables, loans to subsidiary, pending legal/insolvency proceedings, non-payment of statutory dues, and bank account attachments by the Income Tax department. The standalone net worth is deeply negative at Rs. (97.91) crore, with total liabilities of Rs. 101.93 crore against total assets of only Rs. 4.01 crore, and a reported net loss of Rs. 12.66 lakh (adjusting for qualifications, the loss balloons to Rs. 21.83 crore). The company has defaulted on loans from multiple banks including IFCI (Rs. 35.43 crore), Dena Bank (Rs. 15.85 crore), SBI (Rs. 10.87 crore), IDBI, SICOM, and others, totaling roughly Rs. 97 crore. Management plans to submit a restructuring scheme to the NCLT, but the auditor has flagged material uncertainty about the company's ability to continue as a going concern.
This is an extremely distressed filing — shareholders face a company with fully eroded net worth, massive bank defaults, a disclaimer of audit opinion, and an explicitly flagged going-concern risk. The stock remains suspended and the company's survival hinges on the proposed NCLT restructuring; equity holders are likely to face significant dilution or total loss.