Financial Results 31/03/2026

Sparkle Gold Rock Limited has released its FY2026 financial results with a Qualified Opinion from auditors G.R. Gupta and Company. The auditors identified five key issues: (1) Related party transactions with Sparkle Gold Mine Private Limited totaling Rs.1971.40 lakhs in sales and Rs.3308.16 lakhs in purchases were conducted without proper Section 188 approvals, raising arm-length pricing concerns; (2) Company failed to properly identify MSME creditors and did not pay mandatory penal interest on delayed supplier payments; (3) Company availed ITC on trade payables outstanding over 180 days but did not provide for interest liability of Rs.46.22 lakh; (4) No Expected Credit Loss provision was created on trade receivables of Rs.5459.92 lakhs as required by Ind AS 109; (5) Emphasis of Matter noted non-provision for pending tax/customs demands and a retrospective restatement correcting borrowings classification of Rs.45.15 lakh. Internal controls were found inadequate with audit trail not maintained and evidence of backdated entries.