Aurique Limited Q2 Net Profit ₹5.64 Lakh, Auditor Disclaimer

Revenue from Operations: ₹104.50 lakh for Q2 FY26 (Q1 FY26: ₹253.13 lakh, Q2 FY25: ₹0.00)
Other Income: ₹0.00 lakh for Q2 FY26 (Q1 FY26: ₹0.51 lakh)
Total Revenue: ₹104.50 lakh for Q2 FY26 (Q1 FY26: ₹253.64 lakh)
Total Expenses: ₹98.86 lakh for Q2 FY26 (Q1 FY26: ₹175.14 lakh, Q2 FY25: ₹21.51 lakh)
Profit Before Tax: ₹5.64 lakh for Q2 FY26 (Q1 FY26: ₹78.50 lakh, Q2 FY25: -₹21.51 lakh)
Net Profit: ₹5.64 lakh for Q2 FY26 (Q1 FY26: ₹78.50 lakh, Q2 FY25: -₹21.51 lakh)
Earnings Per Share (Basic & Diluted): ₹0.43 for Q2 FY26 (Q1 FY26: ₹7.85, Q2 FY25: -₹2.15)
Paid-up Equity Share Capital: ₹130.00 lakh (Face value ₹10 each) as of June 30, 2026 (Previous: ₹100.00 lakh)

Meeting held on July 15, 2026, from 3:45 PM to 4:00 PM
Approved unaudited standalone financial results for quarter ended June 30, 2026
Approved change in director category for Mr. Nimeshkumar Ganpatbhai Patel (DIN: 10939411) from 'Promoter' to 'Professional Director' effective July 15, 2026
Mr. Patel continues as Managing Director on existing terms and conditions

J.M. Patel & Bros., Chartered Accountants (FRN: 107707W) issued a disclaimer of opinion citing four material matters:

1. Absence of External Confirmations and Bank Trails:

Trade balances with Sundry Debtors (Plenta Foods LLP) and Sundry Creditors (Alphentine Foods Private Limited) remain unconfirmed
No cash flow transactions in these ledgers throughout the quarter
Raises doubt on existence, recoverability, and business substance of these balances

2. Legality of Dividend Payout:

Company transferred ₹2,00,000 to Unpaid Dividend Account (HDFC Account No. 50200121416497) on June 1, 2026
Dividend payouts to shareholders commenced June 9, 2026
Main bank account (HDFC Account No. 99900013071950) had closing balance of only ₹15,811.73 as of April 1, 2026
No cash realized from operations during the quarter

3. Inoperative Entity Name in Bank Accounts:

Company changed name from "PAE Limited" to "Aurique Limited" effective May 11, 2026
Active bank accounts (HDFC Current Account and Unpaid Dividend Account) continue operating under old name "PAE Limited"
KYC and statutory bank records not updated to reflect new corporate identity
Company failed to provide bank statements/confirmations for 8 out of 10 bank accounts (purportedly with Axis Bank, SBI, and Kotak Mahindra Bank)

4. Opening Balance Impact of Quasi-Equity Write-off:

Opening reserves reflect write-off of ₹5,38,84,446 of quasi-equity received from Mr. Jatinbhai R. Patel against accumulated losses as per NCLT resolution order
Absence of independent verification of NCLT order clauses prevents verification of opening equity balances correctness

Bonus issue approved by Board on April 23, 2026, and shareholders in AGM on May 18, 2026
Subsequent allotment of bonus shares on May 26, 2026
Equity share capital increased from ₹1,00,00,000 (10,00,000 equity shares of ₹10 each) to ₹1,30,00,000 (13,00,000 equity shares of ₹10 each)

Management maintains that:

Trade balances are supported by underlying invoices and documents
Dividend was declared from distributable profits in compliance with Companies Act, 2013
Bank account name change is an administrative exercise in process, does not affect ownership validity
Opening balances are carried forward from audited FY26 financial statements