Financial Analyst Summary

Document Overview

This document represents the company's mandatory disclosure under Regulation 33/52 of the SEBI (LODR) (Amendment) Regulations, 2016 regarding audit qualifications in both consolidated and standalone financial statements for the period ending March 31, 2025.

Key Financial Metrics (Consolidated)

The audited consolidated financial results show:

  • Turnover/Total Income: Rs. 304.10 lakhs
  • Total Expenditure: Rs. 285.05 lakhs
  • Net Profit: Rs. 7,229.20 lakhs
  • Earnings Per Share: Rs. 7.63
  • Total Assets: Rs. 2,643.58 lakhs
  • Total Liabilities: Rs. 30,960.93 lakhs
  • Net Worth: Negative Rs. 28,317.35 lakhs

Key Financial Metrics (Standalone)

The audited standalone financial results show:

  • Turnover/Total Income: Rs. 303.78 lakhs
  • Total Expenditure: Rs. 279.30 lakhs
  • Net Profit: Rs. 7,231.81 lakhs
  • Earnings Per Share: Rs. 7.63
  • Total Assets: Rs. 2,514.16 lakhs
  • Total Liabilities: Rs. 30,660.45 lakhs
  • Net Worth: Negative Rs. 28,146.29 lakhs

Audit Qualification Details

Management's View on Audit Impact:

  • The impact of the audit qualification is not quantified by the auditor
  • Management states the impact on financial statements is "unascertainable"
  • Reason: No balance confirmation from the lender as of March 31, 2025 has been received despite management efforts

Going Concern Assessment:

Management asserts the company can continue as a going concern based on:

  • In-principle approval for One Time Settlement (OTS) with lenders for debt repayment
  • Completed OTS with one lender (amount paid off and accounted for)
  • Future business prospects and cost reduction measures
  • Recent efforts to increase equity base through preferential allotment of equity/warrants

Signatories and Dates

Consolidated Statement Signatories:

  • Mahdav Deshpande (Chairman and Director of Audit Committee, DIN: 01537794)
  • CA Bakulesh R Kotecha (Statutory Auditor, Membership No. 036309)
  • Gautam Suri (Managing Director, DIN: 08180233)
  • Jagannath Sanjeeva Shetty (CFO)

Standalone Statement Signatories:

Same signatories as consolidated statement

Document Dates:

  • Both statements dated: May 30, 2025
  • Digital signatures dated: July 3-4, 2025
  • Place: Mumbai

Topic Tags: Audit Qualifications, Negative Net Worth, Debt Restructuring, Going Concern, Regulatory Compliance, SEBI LODR Regulation 33/52