Flexituff Ventures Board Meeting Outcome: Financial Results Reviewed, Limited Review Report Issued
Flexituff Ventures International Limited's Board reviewed unaudited standalone and consolidated financial results for Q3 FY26. Auditors noted significant limitations in obtaining financial information, impacting their ability to verify accuracy and completeness. The company faces going concern doubts due to operational disruptions and financial challenges.
The significant limitations in the auditor's review and the going concern doubts raise serious concerns about the company's financial health and future viability, which will have a high impact on stakeholders.
The auditor's report highlights significant limitations in obtaining financial information, casting doubt on the accuracy and completeness of the results. The company also faces going concern uncertainties, indicating a negative financial outlook.
Flexituff Ventures International Limited announced the outcome of its Board of Directors meeting held on February 14, 2026. The Board reviewed and took on record the Unaudited Standalone and Consolidated Quarterly Financial Results for the quarter ended December 31, 2025, along with the Limited Review Report. The financial results had been previously reviewed and recommended by the Audit Committee.
During the review of the standalone financial results, the auditors, Mahesh C. Solanki & Co., noted significant limitations in obtaining and reviewing complete financial information and supporting documents for the quarter ended December 31, 2025, and the year-to-date period. These limitations restricted their ability to perform necessary review procedures and verify the accuracy, completeness, and validity of financial transactions and balances. Consequently, they could not obtain sufficient appropriate evidence to provide a basis for a review conclusion.
The consolidated financial results also faced similar limitations in obtaining complete financial information for the Parent Company. Additionally, the interim financial information of eleven subsidiaries, which were not reviewed, and two foreign subsidiaries under liquidation process, were included in the consolidated results. The Group's share in the associate's losses for the half-year ended December 31, 2025, amounting to ₹1,183.95 lakhs, was not recognized as the investment was previously reduced to nil.
The company also disclosed that it had encountered disruptions in financial obligations and operational losses, and was unable to access server and financial records at the manufacturing plant. These events, along with other conditions, cast significant doubt on the company's ability to continue as a going concern. The financial statements were prepared on a going concern basis based on management's assessment of future prospects.
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