StockWatch
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Computers - Software & Consulting
Quarterly Result28 May 2026, 10:46 pm

Southern Infoconsultants FY26 Audited Results Approved; Auditor Issues Qualified Opinion

AI Summary

The Board of Directors of Southern Infoconsultants Limited approved the Audited Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2026. The board also appointed Mr. D.K. Shrivastava as the Internal Auditor for the financial year 2025-2026. The independent auditor issued a qualified opinion on the standalone annual financial results due to the company's failure to make provision for Gratuity as per Ind AS 19. The auditor also highlighted that trade receivables and payables are subject to confirmation and reconciliation, impacting the ascertainment of financial implications.

Key Highlights

  • Board approved Audited Standalone and Consolidated Financial Results for Q4/FY26.
  • Mr. D.K. Shrivastava appointed as Internal Auditor for FY2025-2026.
  • Auditor issued a qualified opinion due to non-provision for Gratuity as per Ind AS 19.
  • Auditor emphasized unconfirmed trade receivables and payables balances.
  • Net loss and provisions are understated, cumulative net profits overstated due to gratuity issue.