Submission of financials for the year ended March 31, 2026 for Shree Hanuman Sugar & industries Limited (Under CIRP) pursuant to regulation 33 of SEBI (LODR), Regulation 2015
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Shree Hanuman Sugar & Industries Ltd has reported audited financial results for FY2026 with a Qualified Opinion from auditor BDS & Co. The company reported nominal revenue of Rs. 0.45 lakhs, down from Rs. 4.35 lakhs in FY2025. The net loss more than doubled to Rs. 89.42 lakhs compared to Rs. 42.37 lakhs in the previous year. The company has been under Corporate Insolvency Resolution Process (CIRP) since September 2024, with a Resolution Plan submitted to NCLT Kolkata. The auditor cited multiple non-compliances including non-provision of depreciation since 2014, non-compliance with TDS provisions, IndAS 19 violations, and unconfirmed balances. Cash and cash equivalents declined sharply from Rs. 66.32 lakhs to Rs. 6.44 lakhs. The auditor explicitly stated the company should prepare financial statements on a Non-Going Concern basis as operations ceased since FY2012-13.
The stock carries extreme risk. The company is insolvent, operationally defunct since 2012-13, burning cash with a doubled loss, and the auditor questions going concern status. Shareholders face potential total value erosion pending NCLT approval of the Resolution Plan.