The outcome of the meeting held on May 22, 2026 has been attached herewith.
Awaiting price reaction for this filing.
KDJ Holidayscapes and Resorts Ltd held a Board meeting on May 22, 2026, where the Board approved standalone and consolidated audited financial results for Q4 and FY ended March 31, 2026. The statutory auditor DD Shah Patel & Co. issued a DISCLAIMER OF OPINION - the most serious type of audit qualification - citing inability to verify Non-Current Investments of Rs. 892.96 Lakhs and Deferred Tax Assets of Rs. 52.09 Lakhs due to non-availability of supporting documentation. For consolidated results, auditors could not verify subsidiary financial information. Standalone net loss improved to Rs. 35.10 Lakhs (from Rs. 42.22 Lakhs), while consolidated net loss was Rs. 64.69 Lakhs (from Rs. 73.69 Lakhs). The company recently emerged from NCLT insolvency proceedings under IBC 2016, with new promoter acquisition completed in March 2025, explaining audit documentation gaps.
This is a highly negative development. A disclaimer of opinion indicates fundamental concerns about financial statement reliability. Shareholders face significant risk as key balance sheet items (investments, deferred tax assets) cannot be verified. The company's negative equity of Rs. 887.87 Lakhs (consolidated) and negative cash position further raise going concern doubts.