Quarterly Result30 May 2026, 05:22 pm
Garnet International: Qualified Opinion on FY26 Results
AI Summary
Garnet International Ltd's Board Meeting approved the audited financial results (consolidated and standalone) for the year ended March 31, 2026. Statutory Auditors issued audit reports with a modified opinion on the standalone & consolidated audited financial results for the quarter and year ended March 31, 2025. The auditor's report highlights non-compliance with Section 186(7) of the Companies Act, 2013, due to the absence of interest provision on inter-corporate loans and interest on borrowings.
Key Highlights
- Audited financial results (consolidated and standalone) for FY26 approved.
- Auditors issued modified opinion on standalone & consolidated results.
- Non-compliance with Section 186(7) regarding interest on inter-corporate loans.
- Interest not provided on certain borrowings, impacting finance costs.
- Interest-free unsecured loan to subsidiary without interest provision.
Price Impact
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