Based on recommendation of Audit Committee, approved the audited Financial Results for the fourth quarter and year ended 31st March, 2026. A copy of the audited Financial Results duly recommended ....
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Sunil Agro Foods reported audited FY2026 results with a qualified opinion from auditors GRV&PK. The qualification relates to non-provision of Rs 97.57 lakhs bad debt from debtor Maiyas Beverage and Foods Private Limited (under NCLT since 2019, with only 15.14% payout expected). The company turned profitable at Rs 39.71 lakhs PAT vs loss of Rs 109.43 lakhs in FY2025. Revenue declined to Rs 19,513 lakhs from Rs 22,890 lakhs. The auditors also flagged emphasis of matter on aged debtors exceeding Rs 475 lakhs with no provisions and abnormally high packing material inventory (Rs 1,017 lakhs vs consumption of Rs 271 lakhs). Operating cash flow was negative at Rs 465 lakhs. An exceptional item of Rs 10.20 lakhs was recorded for Labour Code implementation costs. The company saw management change with resignation of Managing Director B Shantial.
The qualified audit opinion and aged debtor issues raise concerns about asset quality and earnings reliability. Despite the company returning to profit, investors should monitor the bad debt provision matter closely. The high inventory levels and negative operating cash flow indicate working capital stress.