Procal Electronics: Revised FY26 Results Show Going Concern Issues

Procal Electronics India Ltd's revised audited standalone financial results for the year ended March 31, 2026, reveal significant concerns about the company's ability to continue as a going concern. The auditor's report expresses an adverse opinion due to the erosion of net worth from continuous losses, lack of business operations, and current liabilities exceeding current assets. Canara Bank has taken possession of the manufacturing unit and assets under SARFAESI Act, 2002, and sold them through E-auction for ₹49.07 lakh. The auditors were unable to verify the accounting treatment of the sale proceeds. Legal proceedings between the bank and guarantors are pending.