Outcome of the Board Meeting held today along with Financial Results for Mar 31, 2026
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Awaiting price reaction for this filing.
The Board approved audited financial results for FY2025-26. The company reported total income of Rs. 25.83 Lacs vs Rs. 35.36 Lacs in previous year (revenue decline of ~27%). However, it returned to profitability with net profit of Rs. 6.87 Lacs compared to a loss of Rs. 12.68 Lacs in FY2024-25. The Statutory Auditor issued a DISCLAIMER OF OPINION citing that the company disposed of its principal manufacturing plant and has not carried out significant operating activities since, primarily earning income from investments. The auditor could not obtain sufficient evidence regarding the company's ability to continue as a going concern. The company also appointed new secretarial and internal auditors for FY2025-26 and FY2026-27 respectively.
This is a HIGH-RISK filing. The auditor's disclaimer of opinion on going concern basis is a serious red flag indicating potential business discontinuation. Shareholders should note the company has sold its main manufacturing asset and is now primarily dependent on investment income. The contradiction between the company's declaration of 'unmodified opinion' and the auditor's actual disclaimer also warrants caution.