Shree Rama Multi-Tech Limited has informed the Exchange regarding 'Clarification regarding inadvertent error in the Statement on Impact of Audit Qualifications submitted along with Audited Financial Results for the Quarter and Financial Year ended on 31st March, 2026'.
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Shree Rama Multi-Tech Limited filed a clarification admitting a clerical error in its 'Statement on Impact of Audit Qualifications' for FY ended March 2026. The error caused massive misreporting: Total Assets were shown as Rs. 207.52 lakhs instead of Rs. 22,785.80 lakhs, Total Liabilities as Rs. 1,529.15 lakhs instead of Rs. 5,032.67 lakhs, and Net Worth as negative Rs. 1,321.64 lakhs instead of positive Rs. 17,753.13 lakhs. The company clarified that the actual Audited Financial Results, Statement of Assets and Liabilities, and Cash Flow statements remain unaffected. The audit itself carries a Qualified Opinion due to the company's inability to consolidate accounts of its defunct wholly-owned subsidiary Shree Rama Worldwide Urjdad, whose directors resigned in 2005-06 and accounts have not been prepared since September 2003.
The massive discrepancy in the Statement on Impact of Audit Qualifications raises concerns about internal controls and data accuracy, though the core financial results are said to be unaffected. The persistent Qualified Opinion from auditors indicates ongoing governance issues with the defunct subsidiary.