The outcome of meeting of Board of directors held on Tuesday, 07th day of April, 2026 has been attached herewith.
Awaiting price reaction for this filing.
The Board of Alka India Limited approved audited financial results for FY 2025-26, reporting standalone net profit of Rs. 17.81 Lakhs compared to a loss of Rs. 44.58 Lakhs in the previous year. However, the statutory auditors issued a Disclaimer of Opinion on both standalone and consolidated results due to critical concerns: revenue of Rs. 2.50 Crores from rice sales was recorded entirely through journal entries without any banking transactions or supporting documents like GST returns and E-way bills. Bank balances with YES Bank and Kalupur Commercial Co-operative Bank could not be verified. Additionally, investments of Rs. 469 Lacs and loans of Rs. 250.48 Lacs to subsidiary Vintage FZE India Private Limited were deemed unrecoverable but not written off. The Board recommended a final dividend of Rs. 0.04 per share and a 6:1 bonus issue for public shareholders to meet minimum public shareholding requirements. The company also announced a strategic shift from textiles to agro-commodity sector and approved disinvestment in its subsidiary.
The Disclaimer of Opinion raises serious red flags about the reliability of financial statements. Significant transactions lack documentary support, and unrecoverable subsidiary investments remain on the books. Shareholders should exercise extreme caution. The bonus issue will increase share capital from 5 Crore to 65 Lakh shares, but dividend payment on unverified profits may be risky.