Revised outcome of Board Meeting and financial results due to correction in consolidated cash flow statement
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Tulsyan NEC Limited has filed revised financial results for Q4 and FY2026, correcting the consolidated cash flow statement for 'Profit before income tax' and 'Adjustments for other Comprehensive Income'. The company reported a standalone net loss of Rs 6,443.99 lakhs and consolidated net loss of Rs 6,433.23 lakhs for the year. Total standalone income declined to Rs 76,009.85 lakhs from Rs 80,083.08 lakhs in the previous year. Auditors issued a qualified opinion due to approximately 59.48% of trade receivables (Rs 9,270.55 lakhs standalone) remaining unconfirmed, with the impact not quantified by management. Additionally, the company has defaulted on Non-Convertible Debenture coupon payments since October 2025, with a moratorium agreed until August 2026 and final redemption pushed to September 2027. A Whole Time Director also resigned effective May 8, 2026.
The company is facing significant financial stress with ongoing losses, debt servicing issues, and auditor qualifications. The revised filing and NCD defaults signal elevated risk for shareholders, and the inability to confirm receivables raises concerns about asset quality.