We are pleased to inform you that the Meeting of the Board of Directors of Procal Electronics India Limited was held today, ie., Saturday, 30" May, 2026, at its Registered Office situated ....
Awaiting price reaction for this filing.
Procal Electronics India Limited's Board Meeting on May 30, 2026 approved FY2026 audited results. Despite the company's declaration claiming an 'unmodified opinion,' the Statutory Auditor actually issued an Adverse Opinion. Key concerns include: the company's net worth is fully eroded due to continuous losses with no active business operations; current liabilities substantially exceed current assets; Canara Bank has taken possession of the Silvassa manufacturing unit and sold assets (including inventory and fixed assets) via e-auction for approximately Rs. 49.07 lakh under SARFAESI Act, 2002 to recover NPA dues. The auditor could not verify inventory valuation, PPE derecognition accounting, write-off/write-back adjustments of old balances, trade receivables/payables, and bank transactions routed through directors' personal accounts. A related party transaction of Rs. 87,337 was recorded as a loan from Managing Director Mahendra Kumar Bothra.
The company is essentially a shell with no operations, facing severe financial distress. The adverse opinion and going concern doubts signal extreme risk for shareholders. This stock should be treated with extreme caution as liquidation appears possible.