The meeting of the Board of Directors of the Company is scheduled on 29/05/2025 ,inter alia, to consider and approve Audited Financial Results for Quarter and Year ended 31st March, 2025.
Awaiting price reaction for this filing.
Atcom Technologies' board approved the audited financial results for Q4 and FY25 on 29 May 2025, and the company publicly claimed there are 'no adverse comments' in the audit report. However, the auditor (Gada Chheda & Co. LLP) issued a Disclaimer of Opinion on the standalone results, citing inability to verify recoverability of trade receivables, loans to subsidiaries, pending legal cases, and bank insolvency proceedings — and flagged a material uncertainty on the going concern. On the consolidated results, the auditor issued a Qualified Opinion, noting all term loans are classified as NPAs, the company is under liquidation in the High Court, and a restructuring scheme has been filed with the NCLT. The company has accumulated losses with its net worth substantially or completely eroded, and has defaulted on bank dues of roughly ₹97.6 crore spread across SBI Patiala, IFCI, IDBI, SBI, Dena Bank, UTI Bank, SICOM, and NCDs. Statutory dues including income tax (multiple years) and central excise remain disputed, and the auditor could not confirm internal financial controls over financial reporting.
Highly negative for shareholders — the auditor's disclaimer/qualified opinion and explicit going-concern doubt contradict the company's claim of 'no adverse comments.' With the company under High Court liquidation proceedings, an NCLT restructuring plan, and nearly ₹100 crore in NPA bank defaults, the equity is at serious risk. This stock should be treated as a high-risk, possibly value-trap situation.