With reference to the above captioned subject, we wish to inform that the meeting of the Board of Directors of the Company was held today viz. Tuesday, 26th May, 2026 and the Board of Directors ....
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Vapi Enterprise Ltd reported total income of Rs. 240.57 Lacs for FY2026, up from Rs. 218.15 Lacs in FY2025, representing ~10% revenue growth. Net profit after tax stood at Rs. 149.45 Lacs versus Rs. 131.55 Lacs in the previous year. However, the statutory auditors M.I. Shah & Co issued a qualified opinion due to non-compliance with IndAS-19 (Employee Benefits) for non-provisioning of employee benefits. Two key audit qualifications were flagged: (1) electricity deposit of Rs. 2.14 crore pending before Gujarat High Court, and (2) sale of factory land with no definitive business plan finalized yet for deployment of proceeds. Operating cash flow was negative at Rs. 690.51 Lacs. The company has a positive net worth of Rs. 3,710.09 Lacs.
The qualified audit opinion and lack of clear business direction after land sale signal elevated risk for investors. Negative operating cash flow despite profit indicates potential working capital issues. The third-time qualified opinion on employee benefits compliance raises governance concerns.