3. Re-Appointment of M/s. DDH & Associates, Chartered Accountants, (FRN No. 146717W), Ahmedabad, as Internal Auditors of the Company for the financial year 2026- 27; and the details as ....
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The Board approved audited consolidated financial results for FY ended March 31, 2026. Consolidated revenue grew ~27% to ₹22,800.80 Lakhs from ₹17,917.93 Lakhs, but profit after tax declined ~63% to ₹1,213.68 Lakhs from ₹3,260.00 Lakhs in the prior year. The statutory auditor issued an unmodified opinion with an Emphasis of Matter on ₹76.26 Crores of outstanding trade receivables from an overseas customer; a provision of ₹56.89 Crores was recognized against this balance following an MOU for settlement at reduced value. The company completed significant acquisitions (85.60% in General Capital and Holding Company and 80% in Metcorp Trading LLC) via share swap, and initiated a ₹50 crore Rights Issue. Total assets surged to ₹56,565.74 Lakhs (vs ₹19,814.01 Lakhs) due to acquisitions, while non-current borrowings increased sharply to ₹23,908.39 Lakhs from ₹1,774.83 Lakhs. Cash flow from operations was negative at ₹5,774.43 Lakhs.
Despite revenue growth, the company faces declining profitability and significantly higher debt levels following acquisitions. The large outstanding receivables and negative operating cash flow warrant monitoring. Shareholders should note the dilution from multiple preferential issuances.