Supreme Infra: Q3 FY26 Unaudited Financials Reviewed; Auditors Raise Concerns
Supreme Infrastructure India Limited approved its unaudited standalone and consolidated financial results for Q3 FY26. The company's auditors raised significant concerns regarding outstanding receivables, investments in subsidiaries undergoing CIRP, and potential contingent liabilities. A material uncertainty regarding the company's ability to continue as a going concern was also noted.
The auditor's qualified opinion and the identification of a material uncertainty regarding the company's going concern status are significant issues that could heavily impact investor confidence, stock valuation, and the company's ability to secure future financing.
The auditor's report highlights significant concerns regarding outstanding receivables, investments in subsidiaries undergoing insolvency, and potential contingent liabilities, leading to a material uncertainty about the company's going concern status. This indicates a negative financial outlook.
Supreme Infrastructure India Limited announced the outcome of its Board Meeting held on February 13, 2026, where the unaudited standalone and consolidated financial results for the third quarter and nine months ended December 31, 2025, were approved and taken on record. The Board Meeting commenced at 9:30 PM and concluded at 10:30 PM.
The auditors, Borkar & Muzumdar, in their limited review report, highlighted several concerns. These include significant outstanding trade receivables and other current assets totaling ₹75,705.87 lakhs, which have been outstanding for a substantial period. The auditors also noted that non-current investments and trade receivables related to erstwhile subsidiaries Supreme Infrastructure BOT Private Limited (SIBPL) and Supreme Panvel Indapur Tollways Private Limited (SPITPL) are subject to uncertainties, as both entities are undergoing Corporate Insolvency Resolution Process (CIRP). Furthermore, the auditors flagged issues regarding the reversal of interest amounts and the non-recognition of potential liabilities related to corporate guarantees issued for subsidiaries.
The auditors expressed an inability to comment on the adjustments that may be required for the carrying value of certain assets and the consequential impact on the financial statements due to a lack of sufficient and appropriate evidence. A material uncertainty related to the company's ability to continue as a going concern was also identified, stemming from accumulated losses and pending settlements with major lenders, though management believes the going concern basis is appropriate.
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