Auditor1 Jun 2026, 05:22 pm
Nutricircle: Audit Qualification on ₹50 Lakhs Loan
AI Summary
Nutricircle Ltd's auditor issued a qualified opinion for the financial year ended March 31, 2026, due to an outstanding unsecured loan of ₹50 lakhs to Mr. K. Veersham without balance confirmation or alternative evidence. The company explained that the loan was given in 2017-18 to the farmer due to crop damage and is now unrecoverable. The auditor was unable to verify the completeness and accuracy of the loan balance, leading to the qualification.
Key Highlights
- Auditor issued a qualified opinion on FY26 financial results.
- Qualification due to a ₹50 lakhs unsecured loan without confirmation.
- Company states the loan to K. Veersham is unrecoverable due to crop damage.
- Audited turnover/total income reported as ₹1776.61 Lakhs.
- Audited net profit reported as ₹30.42 Lakhs.
Price Impact
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