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Simplex Realty Limited reported audited standalone FY2026 results with total income of Rs 1,290.32 lakhs and profit after tax of Rs 131.64 lakhs. The company achieved an unmodified (clean) audit opinion from Khandelwal and Mehta LLP. However, the auditors included an Emphasis of Matter paragraph regarding Simplex Papers Limited, an associate company whose net worth has been fully eroded as of March 31, 2026. The management stated no impairment is necessary and the associate's financials have been prepared on a going concern basis. Additionally, Simplex Mills Company Limited (another associate) has loans and advances recoverable from Simplex Papers Limited that have not been provided for. The board also approved appointment of two additional directors – Ms. Geeta Prabhakaran as Non-Executive Director and Smt. Sita Sunil as Independent Director – subject to shareholder approval at the 113th AGM scheduled for August 5, 2026.
The standalone financials are healthy with an unqualified opinion and no debt (borrowings reduced to nil from Rs 2,000 lakhs). However, the going concern risk flagged by auditors regarding the associate Simplex Papers Limited is a significant concern for investors as it indicates potential contingent liabilities through the inter-company loan exposure from Simplex Mills Company Limited.