Supreme Engineering Limited has submitted to the Exchange, the financial results for the period ended September 30, 2022.
SUPREMEENG · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Supreme Engineering Limited has resubmitted its Q2 and H1 FY23 (ended September 30, 2022) financial results to NSE after an exchange query flagged missing Cash Flow Statement and Statement of Assets and Liabilities. Revenue from operations for the quarter fell sharply to ₹637.12 lakhs (vs ₹1,116.06 lakhs in Q2 FY22), and the company posted a loss before tax of ₹642.60 lakhs for H1 FY23, widening from ₹373.06 lakhs loss in the prior year period. Total equity stood at ₹3,382.19 lakhs against total borrowings of over ₹10,000 lakhs, indicating a debt-to-equity ratio close to 3x. The auditor's review report carries a significant Emphasis of Matter flagging that the company's secured loans were classified as NPA in August 2021, statutory dues (TDS, PF, ESIC, income tax) are overdue, GST and income tax audits were skipped, a forensic audit was conducted, and a ₹908.61 lakh tax demand is under appeal.
This is a deeply negative filing for shareholders — persistent losses, collapsing revenues, a debt-to-equity ratio near 3x, NPA-tagged loans, unpaid statutory dues, and a forensic audit all point to serious financial distress and a potential going-concern issue. The stock is likely to face continued pressure and elevated risk, and investors should treat the equity as highly speculative.