Financial Results Summary
Income Statement (₹ in Lakhs)
- Revenue from operations: ₹5000.02 (FY26) vs ₹3532.98 (FY25)
- Total Income: ₹5000.02 (FY26) vs ₹3532.98 (FY25)
- Total expenses: ₹4863.13 (FY26) vs ₹3455.51 (FY25)
- Profit before tax: ₹136.89 (FY26) vs ₹77.47 (FY25)
- Tax expense: ₹33.58 (current tax) (FY26) vs ₹13.00 (FY25)
- Net profit: ₹103.30 (FY26) vs ₹64.47 (FY25)
- Earnings per share (basic & diluted): ₹0.02 (FY26) vs ₹0.01 (FY25)
Balance Sheet Position (as at March 31, 2026, ₹ in Lakhs)
- Total Assets: ₹8316.51
- Total Liabilities: ₹2167.22
- Equity Share Capital: ₹6025.60
- Other Equity: ₹123.69
- Total Equity: ₹6149.29
- Trade Payables: ₹2131.48
- Inventories: ₹928.95
- Trade Receivables: ₹7344.29
- Cash and cash equivalents: ₹33.32
Cash Flow Statement (FY26, ₹ in Lakhs)
- Net cash from operating activities: (₹7.80)
- Net cash from investing activities: ₹0.00
- Net cash from financing activities: ₹3.78
- Net decrease in cash: (₹4.02)
- Cash at beginning: ₹37.34
- Cash at end: ₹33.32
Audit Qualifications and Impact
The statutory auditors, M/S Shweta Jain & Co LLP, issued a qualified opinion with four specific qualifications:
1. Closing Inventory (₹9.28 Crore)
- Management did not provide item-wise quantitative details, supporting valuation workings, or management representation confirming existence, quantity and valuation
- Auditors unable to determine if adjustments required to carrying value of inventories, cost of materials consumed, retained earnings
2. Trade Receivables (₹48.23 Crore)
- Includes overdue receivables of ₹20.97 Crore from previous financial years with no recoveries received till report date
- Management did not provide sufficient evidence regarding recoverability, including balance confirmations or expected credit loss assessment
- Auditors unable to comment on recoverability and consequential impact
3. Bank Balance Confirmation (₹28.17 Lakh)
- Direct balance confirmations from banks were not made available for verification
- Auditors unable to verify accuracy and completeness by alternative procedures
4. Trade Payables (₹21.27 Crore)
- No payments made to certain parties during financial year
- Management did not provide adequate explanation, supporting documents or confirmations regarding reasons for non-payment
- Auditors unable to comment on completeness, genuineness and appropriateness of carrying value
Management's Response to Qualifications
Management provided the following responses in the Impact Statement:
For Inventory
- Believes inventory appropriately valued and maintained in accordance with accounting policies
- Attributes inability to furnish details to procedural and documentation constraints
- States no material impact expected on carrying value, cost of materials consumed, or retained earnings
For Trade Receivables
- Believes outstanding trade receivables are recoverable in ordinary course of business
- Attributes delays to commercial and business considerations with customers
- States no material impairment provision considered necessary
For Bank Balances
- Confirms bank balances are duly reconciled with books of account and supported by bank statements
- Attributes absence of direct confirmations to procedural issues
- Believes no material financial impact on reported bank balances
For Trade Payables
- Confirms trade payables represent valid and genuine liabilities
- Attributes non-payment to commercial arrangements, ongoing reconciliations and liquidity management
- States no adjustment to carrying value required
Other Matters
- The financial results were reviewed by the Audit Committee and approved by the Board of Directors on May 29, 2026
- The company has only one reportable segment: Trading
- The figures for the last quarter are balancing figures between audited full year and unaudited published year-to-date figures up to third quarter
- The annual financial results are based on audited financial statements for year ended March 31, 2026 with modified audit opinion dated May 29, 2026