Supreme Engineering Approves Audited Results for FY25
Supreme Engineering board approves audited FY25 results with a modified opinion from auditors, highlighting concerns about NPA status and going concern assumption due to continuous losses.
The modified opinion from the auditor and concerns about the company's ability to continue as a going concern could have a significant impact on investor confidence and the company's future prospects.
The announcement includes both positive aspects (approval of financial results) and negative aspects (auditor's modified opinion, NPA status, and concerns about going concern).
* Supreme Engineering Limited's board approved the audited financial statements for the fourth quarter and financial year ended March 31, 2025. * The board also approved the audited standalone financial results, along with the audit report issued by M/s. Rushabh Davda & Associates. * The auditors have issued an audit report with a modified opinion on the annual audited financial results for the financial year ended March 31, 2025. * The company had a secured loan account classified as NPA on August 19, 2021, and has stopped repayment of principal and interest. The company has been incurring losses continuously and incurred a loss for the quarter ended March 31, 2025. The Company’s current liabilities exceed its total assets, resulting in negative net worth. * Management is preparing the financial results on a going concern basis and is in the process of loan restructuring and exploring fund infusion, preferential allotment, and asset monetization options. The company has deposited a preliminary deposit of 10% with the bankers and submitted an application for a One Time Settlement Plan with the bank. * The company has not provided accrued interest, charges, penalties or any other charges from the date of being classified as Non-performing Assets. * There are ongoing litigations before the Hon'ble Supreme Court and other forums under Income Tax and GST laws.
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Supreme Engineering Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Supreme Engineering Limited. Read the original for the full detail.