Audited Financial Result for the fourth quarter and year ended on March 31, 2026.
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Star Source Multiitrade Limited (formerly Chemo Pharma Laboratories) reported a massive net loss of Rs 11.85 crore for FY26, compared to a net profit of Rs 34.22 lakh in FY25. Total income was Rs 5.50 crore while total expenditure surged to Rs 12.40 crore, primarily driven by Rs 11.94 crore in other expenses. The auditor raised a qualified opinion citing that only agricultural sales were recorded in the books despite higher turnover reported in GST returns, no balance confirmations were provided, and loss on fair value changes in investments lacked adequate explanation. Cash and cash equivalents collapsed from Rs 10.62 crore to just Rs 1.22 lakh, and other equity turned negative at Rs -2.10 crore, indicating severe liquidity and solvency stress.
The company is in financial distress with a near-complete erosion of equity and a qualified auditor opinion. The mismatch between book sales and GST returns raises governance red flags. Shareholders should exercise extreme caution.