The Board of Directors of the Company at its meeting held today i.e on May 16th, 2026 has considered and approved Audited Financial Statements along with the Independent Auditors Report ....
Awaiting price reaction for this filing.
Tirupati Fincorp Ltd reported a Disclaimer of Opinion from auditors JCR & Co. LLP for FY 2025-26. The auditor could not express an opinion due to unresolved issues from the prior year involving Rs. 8.20 crore in loan write-offs and income recognition. More than 95% of the company's net worth has been eroded. Revenue declined drastically to Rs. 2,512.54 lakhs from Rs. 11,069.58 lakhs (a 77% drop). The company posted a net loss of Rs. 575.96 lakhs versus a loss of Rs. 82.37 lakhs in the prior year. Total equity collapsed to just Rs. 12.50 lakhs from Rs. 585.83 lakhs previously. Additionally, RBI rejected the company's NBFC registration application and directed it to stop financing business, yet the company continued entering fresh NBFC business despite a board resolution to cease such operations.
This is an extremely negative development. The Disclaimer of Opinion, combined with near-total equity erosion, ongoing regulatory violations, and massive revenue decline, signals severe financial distress and potential going concern risk. Shareholders face substantial risk of capital wipeout. The company's claim of 'unmodified opinion' contradicts the auditor's actual Disclaimer of Opinion, raising governance red flags.