Statutory Audit Report for the year ended 31st March 2025
Awaiting price reaction for this filing.
Lynx Machinery & Commercials Ltd filed its audited results for FY25 with the BSE. The auditor issued a qualified opinion because the company has not made a provision of Rs 21.35 lakhs for doubtful trade receivables, where the court has ordered the company to pay Rs 29.39 lakhs to the same party and the debt is time-barred. The company reported zero revenue from operations, with only Rs 0.64 lakhs in other income, and a net loss of Rs 126.86 lakhs, wider than the Rs 54.04 lakh loss in FY24. Net worth is now negative at Rs (28.07) lakhs and the company carries long-term borrowings of Rs 8.27 crores against negative equity. Significant related-party loans worth Rs 8.04 crores were given to directors (Pradyumna, Padmanabh, Devang, Srawan Kumar Jajodia) and Amisha Engineering Pvt Ltd. Operating cash flow was negative at Rs (1.42 lakhs) for the year.
Negative for shareholders — the qualified audit opinion, zero operating revenue, widening losses, negative net worth, and large related-party lending point to serious financial weakness. The stock faces governance and going-concern risks; investors should watch for any recovery in business activity, debt reduction, or clarity on the doubtful receivables.