Pursuant to Second proviso to Regulation 30(6) and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 we hereby inform you that the Board of ....
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Suncare Traders Ltd's board approved unaudited financial results for Q1 FY26 (ended 30 June 2025). Total income was Rs. 111.54 lakh versus Rs. 109.32 lakh in the same quarter last year, a marginal ~2% rise. The company reported a net profit of Rs. 95.89 lakh, swinging from a loss of Rs. 23.96 lakh in Q1 FY25. EPS for the quarter stood at Rs. 0.04. The board also appointed M/s Goenka Mehta and Associates as the new statutory auditor, subject to shareholder approval at the upcoming AGM. The outgoing auditor (D G M S & Co.) issued a qualified review report, flagging that the company could not produce or verify the existence and ownership of certain financial instruments (debentures). Other equity remains deeply negative at Rs. -1,070.09 lakh, indicating that accumulated losses far exceed share capital.
The swing to profitability is encouraging, but the qualified auditor opinion over unverified investments, deeply negative reserves, and a mid-year change of statutory auditor are red flags. Investors should seek more clarity on the missing/duplicate debenture certificates and whether the profit recovery is sustainable.