RLF Ltd. revises FY26 results, auditors issue qualified opinion

RLF Limited has issued a revised outcome of its Board Meeting dated May 27, 2026, along with the financial results for the fiscal year ended March 31, 2026. The revision corrects a clerical error in the previous announcement, clarifying that the Statutory Auditors, M/s R K Bhalla & Co., have issued a Modified/Qualified Opinion on the financial statements, not an Unmodified Opinion as initially stated. The primary reason for the qualified opinion is the uncertainty regarding the valuation of a land parcel, which the company adopted a revaluation model for. The auditors noted difficulties in determining the correct value due to potential reclassification as a green belt or road widening area, despite an external expert valuing it at ₹4007.48 lakhs. Additionally, the auditors highlighted emphasis of matters including outstanding receivables beyond FEMA permissible time, delay in payment of statutory liabilities without interest/penalty provision, and current liabilities exceeding current assets by ₹156.57 lakhs, alongside a net loss of ₹31.60 lakhs for the year, raising going concern issues.