Vaxfab Board approves Q3 FY26 results; Auditor issues qualified opinion
Vaxfab Enterprises Ltd.'s Board of Directors approved the unaudited standalone and consolidated financial results for the quarter ended December 31, 2025, on February 14, 2026. The accompanying Limited Review Report from Chandabhoy & Jassoobhoy India Chartered Accountants included a basis for disclaimer of opinion and several qualifications. These qualifications highlight issues such as unsecured loans without interest or formal agreements, lack of supporting documents for trade receivables/payables and tax compliances, non-compliance with MSMED Act disclosure requirements, inadequate documentation for inventory movements, and no provision for gratuity liability. The auditors were unable to express an opinion on the standalone financial statements due to these material and pervasive impacts.
Key Highlights
- Vaxfab Board approved Q3 FY26 unaudited standalone and consolidated financial results.
- Auditor issued a qualified opinion with a disclaimer on standalone financial statements.
- Concerns include unsecured loans without interest/agreements and insufficient documentation.
- Lack of support for trade balances, MSMED Act compliance, and inventory records noted.
- No provision for gratuity liability or actuarial valuation was made.