SecUR Credentials Limited has submitted to the Exchange, the financial results for the period ended September 30, 2024.

SecUR Credentials Limited reported severe financial deterioration with Q2 FY2025 revenue of Rs 79.07 Lakhs (down from Rs 700.70 Lakhs in Q2 FY2024) and Q3 FY2025 showing negative revenue of Rs (87.49) Lakhs. The company posted losses of Rs 132.99 Lakhs in Q2 and Rs 215.97 Lakhs in Q3, compared to a profit of Rs 23.90 Lakhs in the same period last year. For the nine months ended December 2024, the company reported a loss of Rs 731.57 Lakhs. The statutory auditors raised multiple emphasis of matter notes citing: inventory discrepancy suggesting possible overstatement in prior periods, non-availability of GST records for verification, unpaid statutory dues, non-compliance with Ind AS 19 for gratuity provisions, and a loan of Rs 127.34 Lakhs granted to a Director in contravention of Section 185 of Companies Act 2013. Expected Credit Loss provision was also not made as required under Ind AS 109.