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Simplex Papers Ltd announced audited financial results for the quarter and year ended 31st March 2025. The Board approved the results and the statutory auditors Khandelwal & Mehta LLP issued an unmodified opinion. However, the auditor included an emphasis of matter noting that the company has accumulated losses and its net worth has been fully eroded (negative ₹12.05 crore), creating uncertainty about its ability to continue as a going concern. Key figures: borrowings of ₹12.44 crore against negative equity, a net loss before tax of ₹15.98 lakhs (vs. profit of ₹11.44 lakhs last year), and negative operating cash flow of ₹15.43 lakhs. The board also approved the voluntary appointment of M/s. Taher Sapatwala & Associates as Secretarial Auditor.
This is a significant red flag for shareholders — the company's net worth is fully eroded and the auditor has flagged a going concern uncertainty, meaning there is real doubt about the company's ability to continue operations. With negligible cash (₹1.91 lakhs), heavy borrowings, and continued losses, the stock carries substantial distress risk and should be treated with extreme caution.