Standalone Audited Financial Results of the Company for the Fourth Quarter and Financial year ended March 31, 2026
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Superior Finlease Ltd reported audited standalone financial results for FY 2025-26 with a modified audit opinion from R.C. Agarwal & Co. The auditors raised two critical issues: (1) the company has not recognized revenue on an accrual basis (using cash basis instead), and (2) provisions for Non-Performing Assets have not been created as required under RBI prudential norms for NBFCs. Additionally, the company faces serious regulatory concerns including frozen bank accounts by government authorities and pending litigations with Enforcement Directorate, SEBI, and Income Tax authorities. The Income Tax department has raised demands for AY 2016-17 and 2019-20 under Section 147/144. The board also deferred a decision on fund-raising due to pending in-principle approval for a previous preferential issue.
The modified audit opinion and non-compliance with RBI norms are serious red flags for an NBFC, indicating weak financial controls and potential regulatory risk. The frozen bank accounts and ongoing litigations with enforcement agencies further raise going concern questions. Shareholders should exercise caution pending clarification on these compliance issues.