FRONTLINE FINANCIAL SERVICES L

Trades construction materials out of Ahmedabad and is listed on BSE with paid-up equity capital of Rs 5.90 crore and total assets of Rs 10.1071 crore at FY25 end. Revenue from operations collapsed about 80% to Rs 49.92 lakhs in FY25 from Rs 251.96 lakhs in FY24, though the company returned to a small Rs 4.35 lakh profit from a Rs 5.39 lakh loss a year earlier. FY26 revenue rebounded sharply to Rs 293.70 lakhs, but profit after tax narrowed to Rs 0.77 lakhs. The FY25 cost shape shows employee costs at 2.4% of revenue and other operating expenses at 35.3%, with no material input costs recorded; subsequent quarterly filings cite higher stock-in-trade purchases as the main expense driver. BSE had suspended trading in the stock, with in-principle approval for revocation received on August 11, 2025. The company has been functioning without a full-time CFO (Managing Director Sandeep Mathur doubles as CFO) and without a separate internal auditor, and statutory auditor J.S. Shah & Co has repeatedly issued disclaimer opinions citing unconfirmed balances of receivables, payables and loans, undocumented investment in a Sanand plot, and unverifiable inventory.