Audited Financial Results for the Quarter and Year ended March 31, 2026
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Svaraj Trading & Agencies Ltd reported revenue of Rs 136.93 lakh for FY2026, up sharply from Rs 14.36 lakh in the prior year (855% growth). However, the company recorded a net loss of Rs 1,734.07 lakh, a significant deterioration from a loss of Rs 22.37 lakh in FY2025 — the loss widened by over 77x. Total comprehensive loss for the year was Rs 1,730.37 lakh. The auditors (GRAM and Associates LLP) issued an unmodified opinion but included an Emphasis of Matter paragraph flagging the RotiMaster project: Rs 4.8 crore of plant machinery remains classified under CWIP as the product is still under R&D, Rs 2 crore in IP rights are capitalized, and Rs 4.4 crore of inventory is held — no commercial production has begun. Balance sheet shows equity of Rs 4,111.21 lakh against total assets of Rs 4,120.06 lakh with negligible debt. The company appointed a new internal auditor (Ronak Ranka of PwC and Vedanta background).
Revenue surge is encouraging but the massive Rs 1,734 lakh net loss and stalled RotiMaster project — with over Rs 11 crore in assets not yet productive — raise serious questions about sustainability and the true quality of the balance sheet equity.