Results for the quarter and half year ended 30.09.2022
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Unipro Technologies, a small Hyderabad-based IT and software services company, reported continued losses for Q2 FY23 and H1 FY23. Net loss for H1 FY23 stood at about Rs 5.34 lakh, slightly wider than the Rs 4.63 lakh loss in H1 FY22, while full-year FY22 had ended with a Rs 20.03 lakh loss. Revenue from operations appears negligible, with expenses of around Rs 2.65 lakh in Q2 driving the loss. The balance sheet is concerning: reserves and surplus are deeply negative at Rs (397.13) lakh versus equity share capital of Rs 608.49 lakh, meaning accumulated losses have wiped out a large chunk of book value. Cash and equivalents have dropped to just Rs 0.14 lakh from Rs 4.24 lakh. Auditor V. Ravi & Co. issued an unmodified limited review report with no qualifications.
For retail investors, this is a micro-cap company in financial distress — recurring losses, negative net worth, near-zero cash, and negative operating cash flow make it a high-risk, thinly-traded stock. The long gap between the period end (Sep 2022) and the board approval date (Feb 2024) is also a red flag on timely disclosure.