Alstone Textiles (India) Limited has submitted a regulatory disclosure to BSE Limited pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016. The disclosure concerns the impact of audit qualifications on the audit report for the financial year ended 31st March 2026.
The company received an adverse audit opinion from its auditors primarily due to two issues: non-provision of interest on loans, and non-compliance with Indian Accounting Standards specified under Section 133 of the Companies Act, 2013.
Financial Impact Analysis
The statement shows that despite the audit qualifications, all financial figures remain unchanged between the originally reported audited figures and the adjusted figures after accounting for the qualifications:
- Turnover/Total income: ₹1058.67 lakh (both before and after adjustment)
- Total Expenditure: ₹714.57 lakh (both before and after adjustment)
- Net Profit/(Loss): ₹288.55 lakh (both before and after adjustment)
- Earnings Per Share: ₹0 (both before and after adjustment)
- Total Assets: ₹20,813.583 lakh (both before and after adjustment)
- Total Liabilities: ₹14,225.695 lakh (both before and after adjustment)
- Net Worth: ₹6,587.884 lakh (both before and after adjustment)
Audit Qualification Details
The audit qualification represents an adverse opinion, which is the most severe type of modified audit opinion. The qualification appeared for the first time in the current financial year.
Management's Response
The management stated that "The Company will be complying this from the next year" regarding the interest provisioning requirements that led to the audit qualification.
The disclosure was signed by Deepak Kumar Bhojak, Managing Director (DIN: 06933359), on behalf of Alstone Textiles (India) Limited.