Along with the Outcome we have submitted Limited Audit Report, we have now added Full Independent Auditor''s Report for the 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.
The auditor issued a QUALIFIED OPINION on the company's financial statements for FY2026. The auditors raised three major concerns: (1) Going concern doubt - the company's net worth is completely eroded with accumulated losses of Rs 10,514.05 lakhs, and it has reported net losses for three consecutive years; (2) Failure to obtain balance confirmations for advances of Rs 395.57 lakhs, trade receivables of Rs 75.05 lakhs, and trade payables of Rs 3,350.77 lakhs; (3) Non-remittance of statutory dues including EPF (Rs 124.78 lakhs), ESI (Rs 10.42 lakhs), TDS/TCS (Rs 24.83 lakhs), and excess GST ITC claimed (Rs 6.75 lakhs). Turnover declined to Rs 8,727.79 lakhs from Rs 9,948.58 lakhs in the previous year. The company also lacks audit trail feature in its accounting software as required by law.
This is a highly negative development. The qualified audit opinion with going concern doubt signals serious financial distress. Shareholders face extreme risk as the company may not be able to continue operations. Non-compliance with statutory obligations could lead to regulatory penalties and legal action.