We hereby declare that as mentioned in Independent AAuditor report the standalone financial statements for the year ended March 31, 2025 are with unmodified opinion.
Awaiting price reaction for this filing.
CRP Risk Management has declared that its FY25 (year ended March 31, 2025) standalone financial results carry an 'unmodified' audit opinion. However, the auditor's report from Rakchamps & Co. LLP contains a 'Basis for Qualified Opinion' section flagging that the company was declared a Non-Performing Asset (NPA) by State Bank of India and Wai Urban Co-operative Bank, and that Rs. 44.41 lakhs in TDS dues remain unpaid. The auditor also included an 'Emphasis of Matter' highlighting Rs. 8.96 crores in unrecovered supplier advances and Rs. 2.44 crores in slow-moving/obsolete inventory for which no adequate provisions have been made. The filing is signed by Managing Director Raza Mohammed Sayyed and auditor CA. Ramanatha Shetty.
Despite the company's claim of an unmodified opinion, the auditor's report clearly contains qualified opinion language and emphasis-of-matter paragraphs, which is a serious governance red flag. Shareholders should treat this as effectively a qualified audit, with significant risk from the NPA status, large unrecovered advances, and under-provisioned obsolete inventory potentially weighing on the stock.