GB Global Limited Regulatory Response Summary
Date and Nature of Communication
GB Global Limited submitted a response dated 09 July 2026 to the National Stock Exchange of India Limited regarding queries raised in the exchange's email dated 08 July 2026. The communication addresses specific concerns about the company's audited financial results submission for the quarter and year ended 31 March 2026.
Company's Clarification on Queries
The company provided detailed responses to two main queries:
Query 1: Statement of Impact of Audit Qualifications
- The statutory auditors, M/s. Bhuta Shah & Co. LLP (Firm Registration No. 10147W/W100100), issued an audit report with qualified opinion for both standalone and consolidated financial results
- Management stated there is no impact on the standalone financial results from the audit qualifications
- The qualification relates to balances of trade payables, trade receivables, advances received, advances given (including capital advances), and GST balances being subject to confirmation, reconciliation, and consequential adjustment
- Management considers the qualifications qualitative in nature and therefore unquantifiable
- This is the second consecutive year this qualification has appeared
Query 2: XBRL Filing Discrepancies
- The company acknowledged technical difficulties during XBRL submission that caused mismatches between figures reported in XBRL and PDF versions
- Submitted acknowledgment copies of both original (29 May 2026) and revised (25 June 2026) XBRL filings for both standalone and consolidated results
- Provided Annexure B1 (Standalone XBRL original), B2 (Consolidated XBRL original), C1 (Standalone XBRL revised), and C2 (Consolidated XBRL revised)
Regulatory Compliance Reference
The response explicitly references compliance with Regulation 33/52 of the SEBI (LODR) (Amendment) Regulations, 2016 regarding the submission of statements on impact of audit qualifications.
Financial Results Clarification Details
The annexure provided detailed financial figures showing no adjustment between audited and adjusted figures due to the qualitative nature of the qualifications:
Standalone Financial Statements (Amount in INR Lakhs):
- Turnover/Total Income: 8,637.27
- Total Expenditure: 12,966.70
- Net Profit/(Loss): 2,904.33
- Earnings Per Share: 5.80
- Total Assets: 65,294.22
- Total Liabilities: 65,294.22
- Net Worth: 40,558.60
Consolidated Financial Statements (Amount in INR Lakhs):
- Turnover/Total Income: 14,203.07
- Total Expenditure: 16,475.13
- Net Profit/(Loss): 7,827.35
- Earnings Per Share: 15.64
- Total Assets: 97,470.61
- Total Liabilities: 97,470.61
- Net Worth: 44,625.07
Management's Rationale for Unquantifiable Impact
The management cited two main reasons for being unable to quantify the impact:
1. The qualifications are qualitative in nature
2. The company was acquired under the CIRP process and still has deficiency in manpower and limited access to past records
The auditors concurred with management's assessment that the impact cannot be quantified.
Additional Context from Board Meeting
The document includes references to the Board meeting held on 29 May 2026 where:
- Audited financial statements for quarter and year ended 31 March 2026 were approved
- Cost Auditor (M/s. Pradip Mohanlal Damania) was appointed for FY2026-27
- Secretarial Auditor (M/s. Himesh Pandya & Associates) was appointed from FY2025-26 to FY2029-30
- Internal Auditor (M/S. JVJ & CO. LLP) was appointed for FY2026-27