Statement of Impact of Audit Qualifications has been duly attached.
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Shelter Infra Projects Ltd has submitted the Statement on Impact of Audit Qualifications along with its audited financial results for the quarter and year ended March 31, 2025. The statutory auditors, M/s Basu Chanchani & Deb, have issued a modified opinion — specifically a Qualified Opinion — on the financial statements. Two qualifications were noted: (1) liability for lease rent on a 99-year municipal land lease was not provided for as required under Ind AS-116, and (2) actuarial valuation under Ind AS-19 was not carried out this year. Both qualifications are repetitive from prior years. The company reported a net loss of ₹19.61 lakhs (audited) on total income of ₹180.92 lakhs, and total assets stood at ₹4,020.34 lakhs against total liabilities of ₹3,654.39 lakhs, giving a net worth of ₹365.95 lakhs.
The qualified opinion signals ongoing accounting weaknesses, particularly around lease liabilities, which may dent investor confidence. The reported net loss indicates the company is not profitable for FY25, though the qualification is not severe enough to be classified as adverse.