Pursuant to regulation 30 and 33 of SEBI (LODR), Regulations 2015 read with schedule III to SEBI Regulations we inform you board of directors approved the unaudited standalone and consolidated ....
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The Board of Southern Infoconsultants Limited approved unaudited financial results for Q1 FY26. Revenue from operations fell sharply to ₹87.67 lakhs from ₹173.80 lakhs in the same quarter last year, a drop of about 49.6%. Total expenses of ₹118.04 lakhs exceeded total income of ₹92.91 lakhs, pushing the company into a pre-tax loss of ₹25.13 lakhs versus a profit of ₹4.36 lakhs a year ago. Net loss for the quarter stood at ₹25.69 lakhs standalone (₹24.73 lakhs consolidated), versus a profit of ₹3.46 lakhs in Q1 FY25, giving a negative EPS of ₹(0.51). The auditor issued a qualified opinion because the company has not made any provision for Gratuity as required under Ind AS 19, overstating profits and understating liabilities. The auditor also flagged an emphasis of matter on unreconciled trade balances and, more notably, a Work-in-Progress (inventory) balance of ₹1,354.63 lakhs sitting on the books without supporting contracts.
Negative for shareholders – revenue halved, the company swung from profit to loss, and the auditor flagged a long-standing gratuity qualification plus a large, contract-less inventory buildup that raises concerns about asset quality and earnings reliability.