Refer attached document
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board approved audited standalone financial results for FY ended March 31, 2026 with total revenue of Rs. 2,835.33 lakhs (up 21.5% from Rs. 2,334.06 lakhs) and net profit of Rs. 287.01 lakhs (up significantly from Rs. 42.88 lakhs). EBITDA margin expanded from ~2.6% to ~13.5%. The auditor issued a QUALIFIED OPINION due to: (1) unverified bank balances of Rs. 40,436 with no supporting documentation, (2) incomplete GST reconciliation, and (3) non-compliance with Ind AS 19 for employee retirement benefits (no actuarial valuation). Consolidated results include subsidiary VEM Plastic Molding Private Limited with revenue of Rs. 2,081.96 lakhs and net profit of Rs. 99.28 lakhs. Standalone operating cash flow was negative at Rs. 1,173.51 lakhs due to large working capital buildup. The company also announced ESOP Scheme 2026 subject to shareholder approval.
The qualified audit opinion raises concerns about financial controls and compliance. Strong profit growth (570% YoY) is offset by negative operating cash flow and auditor reservations. Shareholders should monitor the unresolved GST and retirement benefit accounting issues.