With reference to the above, we wish to inform the Exchanges that the Board of Directors of the Company at their meeting held today i.e Saturday, 14th February, 2026 has transacted and ....
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Wardwizard Foods reported a sharp jump in revenue for Q3 FY26 at Rs. 11,664.72 lakhs, up roughly 139% from Rs. 4,875.71 lakhs in Q3 FY25. For the nine months ended December 2025, revenue surged to Rs. 19,728.01 lakhs versus Rs. 5,363.82 lakhs a year earlier (around 268% growth), driven mainly by the Food Commodities segment. Losses narrowed significantly — the company lost Rs. 60.24 lakhs in Q3 and Rs. 167.80 lakhs in 9M FY26, compared to Rs. 371.65 lakhs and Rs. 1,436.38 lakhs respectively in the previous year. However, the auditor (Mahesh Udhwani & Associates) issued a Qualified Conclusion, flagging Rs. 760 lakhs of unrecovered advances and trade receivables that the company has not provided for. The auditor also drew attention to unverified borrowings of Rs. 2,857.46 lakhs from Indian Credit Co-operative Society and Rs. 3,118.99 lakhs from Swapnatari Finserve, with interest expense not properly booked. The Board separately noted the resignation of Company Secretary Bhoomi Talati.
Strong top-line growth and shrinking losses are positives for shareholders, but the auditor's qualified report, unrecovered advances, and over Rs. 5,976 lakhs of poorly documented borrowings against equity of just Rs. 2,571 lakhs raise red flags on asset quality and leverage that may weigh on the stock.