Revised Letter Attached
URJA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Urja Global Ltd has submitted its audited standalone and consolidated financial results for FY ended March 31, 2026. The standalone revenue grew by approximately 20% to Rs 1,757.76 lakhs from Rs 1,461.51 lakhs in the previous year. However, the auditor issued a QUALIFIED OPINION citing two major concerns: (1) the company failed to reverse GST Input Tax Credits of Rs 34.25 lakhs as required under CGST Act, and (2) no documentary evidence exists for Rs 46.35 crore invested in Mines Projects (classified as capital work in progress) and for loans and advances granted. Additionally, the company did not accrue interest on a Rs 23.17 crore loan from promoter company Nandanvan Commercial Pvt Ltd. Key management changes include resignation of CFO and Company Secretary on May 21, 2026, appointment of new CEO from June 2, 2026, and appointment of new Company Secretary and Internal Auditor.
The qualified auditor opinion and unresolved GST compliance issues signal elevated risk for investors. The lack of documentary evidence for major investments raises concerns about asset values and recoverability of loans. The company needs to address these issues to restore investor confidence.