The Board of Directors in its meeting held on 09.06.2025 approved the unaudited financial results for quarter ended 31.12.2024
Awaiting price reaction for this filing.
Longview Tea Company filed its unaudited Q3 and 9-month results for the period ended 31 December 2024 at a board meeting on 9 June 2025 — a substantial delay (over five months past quarter-end). The statutory auditor, V. Singhi & Associates, issued a Disclaimer of Conclusion, the most severe form of review report, because they could not obtain sufficient evidence to verify the numbers. Key red flags flagged by the auditor: (1) ongoing NCLT proceedings under Sections 241/242 of the Companies Act (oppression/mismanagement) filed on 28 March 2025, plus a show-cause notice under Section 206 from the Registrar of Companies; (2) the current management has been denied access to financial records, books and statutory documents by the previous management; and (3) loans and advances to related parties exceed 50% of total assets with no supporting documents available. On numbers, Q3 standalone revenue crashed to Rs 4.11 lakh from Rs 139.10 lakh a year earlier, though 9-month total income rose to Rs 225.62 lakh from Rs 144.19 lakh (driven by Q1/Q2). 9-month net profit slipped to Rs 99.00 lakh from Rs 131.21 lakh.
This filing is a serious red flag for shareholders. The auditor's disclaimer, unresolved NCLT proceedings, and management's inability to access basic books of accounts create material going-concern uncertainty. The 97% collapse in Q3 revenue, combined with massive unverified related-party loans, points to severe operational and governance distress — investors should expect heightened volatility and possible regulatory scrutiny.