Un-Audited Financial Results for quarter ended 30/09/2025
Awaiting price reaction for this filing.
Advance Syntex, a Gujarat-based glitter and film maker, has reported zero revenue from operations for Q2 FY26 (ended Sept 2025), as the company has shut down its business activities. It posted a loss after tax of Rs. 59.10 lakhs for the quarter and Rs. 56.70 lakhs for the half-year. The balance sheet shows a deeply negative net worth of Rs. (1,298.68) lakhs against total assets of Rs. 1,241.10 lakhs, meaning liabilities exceed assets. Axis Bank has already sold the company's land, building, plant, machinery and inventory under the SARFAESI Act for Rs. 5.20 crore against a book value of Rs. 23.04 crore. The company is classified as an NPA by lender banks and has no employees on its rolls. The auditor (VRAJM & Associates) issued an Adverse Opinion and an Emphasis of Matter, stating that the company cannot be regarded as a Going Concern and that the financials do not comply with Ind-AS.
This is a deeply distressed company with effectively zero operations, negative net worth, and assets already taken over by lenders. Shareholders face severe risk — the stock may face trading suspension or delisting action from BSE given the going-concern failure and adverse audit opinion. Recovery for equity holders appears unlikely as lenders have already enforced security.