SRM Energy 39th Annual Report FY26 with change in management and qualified opinion
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SRM Energy filed FY26 Annual Report. No business operations, only Rs. 227.12 Lakhs other income. PAT swung to Rs. 32.06 Lakhs profit from Rs. 37.58 Lakhs loss. Net worth improved from negative Rs. 410.23 Lakhs to negative Rs. 378.66 Lakhs. New promoter Umesh Sanghvi took 71.19 percent control from Spice Energy in September 2025. Major board change happened in March 2026. Auditors gave qualified opinion. Subsidiary shares transferred to holding firm.
Going concern risk persists with accumulated losses of Rs. 1,284.66 Lakhs and no core operations, but new promoter may revive business.