Approval of Audited Financial Results for the quarter and year ended March 31, 2026
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Southern Infoconsultants Limited reported audited financial results for FY2026 with a qualified opinion from statutory auditors Mukesh Aggarwal & Co. The company posted standalone revenue of Rs. 1,091.73 lakhs, down 16.3% from Rs. 1,304.97 lakhs in FY2025. Standalone net loss was Rs. 11.99 lakhs compared to a profit of Rs. 5.61 lakhs in the previous year. Consolidated net loss was Rs. 12.34 lakhs. The auditors qualified their opinion due to the company's failure to make provision for Gratuity under the Payment of Gratuity Act and Ind AS 19, with the financial impact unquantifiable. Additional emphasis was placed on unverifiable trade receivables/payables and work-in-progress inventory of Rs. 443.89 lakhs lacking supporting documentation. The company appointed Mr. D.K. Shrivastava as Internal Auditor for FY2025-26. Operating cash flow turned positive at Rs. 140.74 lakhs despite the loss.
The qualified audit opinion and revenue decline signal deteriorating financial health and governance concerns. Shareholders should be cautious as the company faces compliance issues with accounting standards and lacks clear quantification of potential liabilities from unpaid gratuity. The positive operating cash flow provides some comfort on liquidity.