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Simplex Papers Ltd's board approved its audited financial results for the quarter and financial year ended 31st March 2025. The company slipped into a loss with a net loss before tax of about Rs 15.98 lakh, compared to a profit of Rs 11.44 lakh in the previous year. Net worth remains deeply negative at around Rs (1,205.47) lakh, meaning the company's total equity has been fully eroded by accumulated losses, while total assets stood at only Rs 155.91 lakh. The statutory auditor Khandelwal and Mehta LLP issued an unmodified opinion on the results but added an Emphasis of Matter paragraph flagging that the fully eroded net worth and accumulated losses create a material uncertainty about the company's ability to continue as a going concern. The board also appointed M/s. Taher Sapatwala & Associates as Secretarial Auditor for five years on a voluntary basis, since the company is exempt from the mandatory requirement given its tiny share capital and negative net worth.
This is a serious red flag for shareholders — the company is technically insolvent with negative net worth of about Rs 12 crore, is loss-making again, and the auditor has formally warned about going concern uncertainty. While the auditor gave an unmodified opinion, the emphasis-of-matter note means investors should treat this as a high-risk, distressed micro-cap stock.