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SVA India Ltd reported a sharp deterioration in its standalone business for FY26. Standalone revenue from operations fell to Rs 52.49 lakh from Rs 76.16 lakh last year, while total income dropped sharply to Rs 53.99 lakh from Rs 223.72 lakh. Total expenses surged to Rs 318.08 lakh (from Rs 139.10 lakh), driven by a spike in finance costs (Rs 76.63 lakh vs Rs 22.14 lakh) and other expenses (Rs 152.27 lakh vs Rs 28.74 lakh). The company swung from a Rs 84.61 lakh profit last year to a Rs 264.09 lakh loss before tax, resulting in a standalone net loss of Rs 235.36 lakh (vs Rs 62.69 lakh profit in FY25). Consolidated results showed a positive swing to Rs 162.11 lakh net profit (vs Rs 62.69 lakh), mainly helped by a Rs 408.33 lakh share of profit from its associate Aussee Oats Milling (Sri Lanka). The statutory auditor, Jayesh Dadia & Associates LLP, issued an unmodified opinion for FY26, but noted that the FY25 results were audited by a predecessor firm that had issued a qualified opinion.
Negative for standalone shareholders — the core business has swung deeply into losses, expenses have more than doubled, and borrowings (Rs 1,502.58 lakh) are roughly 3.2x the standalone equity base (Rs 471.80 lakh), signalling significant financial stress. The auditor change and the prior year's qualified opinion add further uncertainty, though the consolidated picture is cushioned by earnings from the Sri Lankan associate.