Tarapur Transformers Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
TARAPUR · price
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Tarapur Transformers Limited reported audited standalone financial results for FY26. Total income increased to Rs. 139.75 Lakhs from Rs. 121.47 Lakhs in FY25 (15% revenue growth). However, the company reported a net loss of Rs. 249.82 Lakhs despite lower expenses compared to FY25. The statutory auditors (Grandmark & Associates) issued a QUALIFIED OPINION with 9 audit qualifications including: (1) non-receipt of balance confirmations from debtors, (2) non-compliance with Ind AS 116 on leases, (3) lack of loan documentation, (4) breach of Section 186 loan limits by Rs. 457.77 Lakhs, (5) non-deduction of TDS on interest under Section 194A, (6) going concern uncertainty due to negative net worth of Rs. 186.21 Lakhs, (7) unquantified contingent liabilities of Rs. 959.71 Lakhs, (8) non-provision of Rs. 67.50 Lakhs interest to Gaganbase Vincom, and (9) no physical verification of fixed assets. The company has also filed an IBC application against Choudhary Global Limited for Rs. 8.67 Crores and created a provision for the same amount.
This is a highly negative development for shareholders. The qualified audit opinion with going concern doubt, negative net worth, multiple regulatory non-compliances, and significant contingent liabilities indicate severe financial distress and potential delisting risk. The stock should be treated with extreme caution.