This is to inform you that pursuant to Regulation 30 and Regulation 33 of the Listing Regulations, the Board at its meeting held today i.e., Thursday, August 14, 2025, inter alia, considered ....
Awaiting price reaction for this filing.
The Board of Garodia Chemicals Ltd approved unaudited financial results for the quarter ended June 30, 2025. The company reported zero revenue from operations and a net loss of ₹5.81 lakhs, compared to a loss of ₹0.77 lakhs in the same quarter last year and ₹12.26 lakhs in the preceding quarter. Total expenses stood at ₹5.81 lakhs (employee costs ₹0.75L, other expenses ₹5.06L). Earnings per share was ₹(0.08) versus ₹(0.01) in Q1 FY25. The auditor issued an unmodified opinion but flagged a critical Emphasis of Matter stating that the financial statements are not prepared on a going concern basis, as management has decided to cease the company's business operations. Additional concerns include unconfirmed creditor/debtor balances, insufficient evidence on contingent liabilities, and absence of an internal audit system.
This is a significant red flag for shareholders – the company has effectively ceased operations, has no revenue, and its financials are no longer being prepared on a going concern basis, raising serious questions about future viability and the value of the equity (paid-up capital of ₹720 lakhs). Investors should treat this as a high-risk situation and monitor for any announcements regarding liquidation, asset sale, or wind-up proceedings.