Un-audited financial Results
Awaiting price reaction for this filing.
Advance Syntex Ltd reported a loss of Rs. 56.70 lakhs for Q2 FY26 and Rs. 59.10 lakhs for H1 FY26, with revenue from operations effectively at zero as business activities remain closed. The company's auditor, VRAJM & Associates, issued an Adverse Opinion and an Emphasis of Matter, flagging that the business is no longer a going concern. The company's net worth is deeply negative at Rs. (1,298.68) lakhs, all fixed assets were sold by Axis Bank under the SARFAESI Act leaving the asset block at zero, and the company has been classified as a Non-Performing Asset by lender banks. Multiple entries were forced into books without proper bank confirmations, trade receivables are not fully provided for, and an unpaid dividend of Rs. 20,265 was not transferred to IEPF on time. Despite the loss, operating cash flow was positive at Rs. 39.04 lakhs in H1, likely driven by one-time recoveries of old receivables rather than core operations.
This is an extremely negative filing for shareholders — the auditor has formally flagged going concern doubts, the company has wiped out its asset base, carries massive negative equity, and is shut out of normal banking. The stock carries severe solvency risk and is essentially in a recovery/wind-down phase rather than an operating business.