Board of Directors of the Company, in their Meeting held on today, ie. on Friday, May 29, 2026, at the Registered Office of the Company to Considered, Approved and taken on record the Audited ....
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United Cotfab Limited reported audited standalone financials for FY2026 ending March 31. Revenue grew 23.4% to Rs 15,468.29 lakh from Rs 12,530.48 lakh. However, profit after tax declined 37.6% to Rs 171.20 lakh from Rs 274.60 lakh despite higher revenue, indicating cost pressures. The statutory auditor issued an Unmodified Opinion (clean audit) but included an Emphasis of Matter noting that the Income Tax Department conducted a search under Section 132 on December 9, 2026, during which Rs 3.00 lakh cash was seized, with no communication received from IT Department as of the report date. The company also noted that the audit trail feature in its accounting software was not maintained throughout the year. Mr. Praveen Kumar Singh resigned as Company Secretary and Compliance Officer. M/s MLI Prajapati & Associates was appointed as cost auditor for FY2026-27.
The company showed revenue growth but declining profitability, raising concerns about cost efficiency. The IT search with cash seizure, while not quantified as material, introduces regulatory risk uncertainty. The low cash balance of Rs 3.26 lakh and negative operating cash flow of Rs 26.62 lakh signal tight liquidity conditions.