Audited results for the year ended 31.03.2023
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Unipro Technologies, an IT and software services company, reported audited standalone results for FY23 with revenue from operations effectively near nil (around ₹3 lakhs total revenue including other income). The company posted a net loss of ₹11.63 lakhs for FY23, though this is an improvement from the ₹20.09 lakhs loss in FY22. Total expenses for the year stood at ₹11.63 lakhs, mostly comprising employee benefits (₹7.10 lakhs) and other expenses (₹15.77 lakhs as per full year). The balance sheet shows other equity deeply negative at ₹(403.42) lakhs, reflecting large accumulated losses, while paid-up equity share capital is ₹608.49 lakhs giving total equity of ₹205.07 lakhs. Cash and cash equivalents are very low at just ₹0.14 lakhs and current liabilities exceed current assets significantly. The statutory auditor V Ravi & Co issued an unmodified (unqualified) opinion on the results, with a separate declaration to that effect filed on 30.05.2023.
Despite the loss reducing year-on-year, shareholders should note that the business continues to operate at near-zero revenue with deeply negative reserves and minimal cash, raising concerns about long-term viability despite the clean audit opinion. The results were approved by the board in February 2024, nearly 10 months after the year-end, indicating serious compliance/timing delays.