WE HEREBY ATTACHED OUTCOME OF BOARD MEETING HELD ON MAY 30, 2026 FOR APPROVAL OF AUDITED STANDALONE AND CONSOLIDATED FINANCIAL STATEMENT FOR THE HALF YEAR AND FINANCIAL YEAR ENDED 31ST MARCH, 2026
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Solvex Edibles Limited reported FY2026 results with qualified opinion from auditors Arora Gupta & Co. Key audit concerns include Rs. 140 lakh advance to a supplier that was simultaneously received back from subsidiary LLP (round-tripping suspicion), Rs. 590 lakh of IPO proceeds temporarily used to reduce borrowings then diverted to general business purposes, and non-recognition of employee benefit obligations (gratuity and leave encashment) under AS 15. The company also failed to provision interest on unpaid MSME dues. Unpaid income tax liabilities stand at Rs. 225.81 lakh (standalone) and Rs. 333.37 lakh (consolidated). Trade receivables and payables balances remain unconfirmed. Standalone revenue grew from Rs. 242.06 lakh to Rs. 686.48 lakh (184% growth). Company is listed on BSE SME platform and exempted from IND-AS adoption.
The qualified auditor opinion with multiple irregularities in IPO fund utilization, unpaid tax liabilities, and MSME dues non-compliance signals significant governance and compliance risks. Shareholders should demand clarification on the suspected round-tripping of Rs. 140 lakh and diversion of IPO proceeds.