Adverse audit opinion; failed loan settlement and going concern doubts
SRPL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Auditor issued an adverse opinion on FY25 results, citing material going concern doubts. Company defaulted on loans and statutory dues, and failed to pay OTS installments of Rs.376.25L and Rs.1856.25L to Union Bank of India. FY25 loss more than doubled to Rs.2,107.5L from Rs.958.5L, partly due to Rs.400.52L inventory write-off. Company skipped inventory and asset verification, and did not perform impairment checks. CIRP was earlier initiated by NCLT in Jan 2023 but stayed by NCLAT and later resolved by settlement in July 2024.
Serious red flags. Adverse audit opinion, failed loan settlement and going concern doubts signal severe financial distress for shareholders.