AI assistant
Prashant India Ltd Interim / Quarterly Report 2026
63063_rns_2026-05-30_bc485dd0-b3b2-414e-af40-f6ebd325dd34.pdf
Interim / Quarterly Report
Open in viewerOpens in your device viewer
PRASHANT INDIA LTD.
CIN No. L15142GJ1983PLC006574
EXPORT AWARDS
(STATE)
87 - 88
90 - 91
91 - 92
92 - 93
93 - 94
94 - 95
(NATIONAL)
30th May, 2026
To,
BSE Limited
Department of Corporate Service
Phiroze Jeejeebhoy Towers,
Dalal Street, Fort,
Mumbai- 400001
Scrip Code: 519014
Sub: Outcome of the Board Meeting held on 30th May 2026.
Dear Sir/ Madam,
Pursuant to provision of Regulation 30 (read with Part A of Schedule III) and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, This is to inform you that the Board of Directors of the Company at its meeting held today i.e. 30th May, 2026, commenced at 04:00 pm and concluded at 05:40 pm at the Registered office of the company wherein Board of Directors has transacted, inter alia, the following businesses:
- Approved the Audited Standalone Financial Results of the Company for the Quarter and year ended 31st March, 2026.
Pursuant to Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing following:
a. Auditor’s Report in respect of the Audited Financial Results of the Company for the financial year ended 31st March, 2026.
b. Statement of Impact of Audit Qualification (For Audit Report with Modified Opinion).
2. Noted resignation Mr. Vinod Pandurang Jadhav, Chief Financial Officer (CFO) of the Company w.e.f. 18th May, 2026.
Kindly take the same on record.
Thanking You,
Yours Faithfully,
For Prashant India Ltd.
SWATI
JOSHI
S. MURPHY AGENCY
SWATI JOSHI
Dated: 22.02.2017
T.T.N: 26 - 431 017
Swati Joshi
Company Secretary & Compliance Officer
M.No.A65736
Encl: As above.
Regd. Office: 4th Floor Office-407 Union Trade Centre, Udhana Darwaja,
Nodh- 2107-2111, B/S Apple Hospital, Surat- 395002, Gujarat, India.
Ph.: 7228086858, E-mail :[email protected], Website : www.prashantindia.info
CA
Ashish Bhoola & Co. Chartered Accountants
803, Rajhans Bonista, B/h. Ram Chowk, Ghod Dod Road, Surat - 395007.
+91 99044 11125 | [email protected]
Independent Auditor's Report
To
The Members of PRASHANT INDIA LIMITED
Report on the Audit of the Standalone Financial Statements
Independent Auditor's Report (Modified Opinion) on Audited standalone Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Qualified Opinion
-
We have audited the accompanying standalone quarterly financial results of Prashant India Limited for the quarter ended 31st March, 2026 and the year to date results for the period from 01.04.2025 to 31.03.2026, attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("Listing Regulations").
-
In our opinion and to the best of our information and according to the explanations given to us, these standalone financial results:
i. are presented in accordance with the requirements of Regulation 33 of the Listing Regulations; and
ii. subject to
Audit Note 20 (b): The company having not made any provision for the following –
| Nature of liability | Amount (Rs. '000) |
|---|---|
| Interest on Secured Creditor's Loans | 11,53,366.335 |
| Non provision of doubtful debts | 883.030 |
| Total | 11,54,249.365 |
Note No. 1(II)(a): Non provision for gratuity and leave encashment in contravention of Ind AS 19, Impact thereof not readily ascertainable.
Note No. 1(II)(d): The Accounts having been prepared on "Going Concern Basis" despite serious apprehensions on the Company's ability to remain in operation for a foreseeable future due to the reasons mentioned in the notes and read with other notes thereon.
give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the "Act") and other accounting principles generally accepted in India, of net profit/loss and other comprehensive income and other financial information of the Company for the quarter ended March 31, 2026 as well as the year to date results for the period from 01.04.2025 to 31.03.2026 and the standalone statement of assets and liabilities and the standalone statement of cash flows as at and for the year ended on this date.
Page 1 of 3
Page 2 of 3
3. Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
4. Management’s Responsibilities for the Standalone Financial Results
These quarterly financial results as well as the year to date standalone financial results have been prepared on the basis of the interim financial statements. The Company’s Board of Directors are responsible for the preparation of these financial results that give a true and fair view of the net profit/loss and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, ‘Interim Financial Reporting’ prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial results, the Board of Directors are responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company’s financial reporting process.
5. Auditor’s Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the standalone financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial results
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
i. Identify and assess the risks of material misstatement of the standalone financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
ii. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
iii. Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
iv. Conclude on the appropriateness of the Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
v. Evaluate the overall presentation, structure and content of the standalone financial results, including the disclosures, and whether the standalone financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance of the Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
For Ashish Bhoola & Co.
Chartered Accountants
A.P. Bhoola
(CA. Ashish P. Bhoola)
Partner
Membership No.109121
FRN: 120609W
UDIN: 26109121000VYB3647
Place: Surat
Date: 30.05.2026
Page 3 of 3
PRASHANT INDIA LTD.
Regd. Office: 407, Union Trade Centre, Udhna Darwaja, Surat - 395002, Gujarat.
Email id:[email protected], Website: www.prashantindia.info
CIN: L15142GJ1983PLC006574, Contact No.+91-7228086858
STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR QUARTER AND YEAR ENDED 31-03-2026
(Rs. in lakhs)
| Particulars | Quarter ended | Year Ended | |||
|---|---|---|---|---|---|
| Audited | |||||
| 31.03.2026 | Unaudited | ||||
| 31.12.2025 | Audited | ||||
| 31.03.2025 | Audited | ||||
| 31.03.2026 | Audited | ||||
| 31.03.2025 | |||||
| 1. Total Income | |||||
| a. Net Sales/Income from operations | 0.00 | 0.00 | 2.74 | 0.86 | 11.45 |
| b. Other operating income | 4.87 | 1.13 | 5.01 | 13.07 | 18.84 |
| Total income from operations | 4.87 | 1.13 | 7.75 | 13.93 | 30.29 |
| 2. Expense - | |||||
| a. Cost of materials consumed | 0.00 | 0.00 | 0.06 | 0.00 | 0.06 |
| b. Purchase of stock in trade | 0.00 | 0.00 | - | 0.00 | 0.00 |
| c. Changes in inventory of FG,WIP & stock | 0.00 | 0.00 | - | 0.00 | 0.00 |
| d. Excise duty on sales | 0.00 | 0.00 | - | 0.00 | 0.00 |
| e. Employees benefit expense | 4.07 | 3.98 | 4.36 | 19.28 | 16.71 |
| f. Finance costs | 86.64 | 259.82 | 0.01 | 346.46 | 0.11 |
| g. Depreciation and amortisation | 0.02 | 0.03 | 2.10 | 2.52 | 8.46 |
| h. Other expenditure | 8.67 | 4.65 | 4.56 | 31.56 | 24.97 |
| Total expense | 99.40 | 268.48 | 11.09 | 399.82 | 50.31 |
| 3. Profit/(Loss) from operations before exceptional items and tax (1-2) | (94.53) | (267.35) | (3.34) | (385.89) | (20.02) |
| 4. Exceptional items | 2.13 | 0.00 | - | 1022.52 | 0.00 |
| 5. Profit/(Loss) before tax | (92.40) | (267.35) | (3.34) | 636.63 | (20.02) |
| 6. Tax expenses | 0.00 | 0.00 | - | 0.00 | 0.00 |
| 7. Net Profit/(Loss) for the period after tax (5 +/- 6) | (92.40) | (267.35) | (3.34) | 636.63 | (20.02) |
| 8. Other comprehensive income | |||||
| Items that will not be reclassified to profit or loss | 0.00 | 0.00 | - | 0.00 | 0.00 |
| Income tax on above | 0.00 | 0.00 | - | 0.00 | 0.00 |
| Items that will be reclassified to profit or loss | 0.00 | 0.00 | - | 0.00 | 0.00 |
| Income tax on above | 0.00 | 0.00 | - | 0.00 | 0.00 |
| 9. Total comprehensive income for the period (7+8) | (92.40) | (267.35) | (3.34) | 636.63 | (20.02) |
| 10 Details of Equity share capital | |||||
| Paid up equity share capital | 423.54 | 423.54 | 423.54 | 423.54 | 423.54 |
| Face value of equity share capital | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| 11. Reserves excluding revaluation reserves | (3108.18) | (3015.78) | (3,744.81) | (3108.18) | (3744.81) |
| 12. EPS ( not annualised ) | |||||
| a. Basic EPS | (2.18) | (6.31) | (0.08) | 15.03 | (0.47) |
| b. Diluted EPS | (2.18) | (6.31) | (0.08) | 15.03 | (0.47) |
Place : Surat
Date : 30-05-2026
For PRASHANT INDIA LTD.
Managing Director
Prabhudas Mohambhai Gondalia
DIN: 00014809
Director/Authorised Signatory
PRASHANT INDIA LTD.
Regd. Office: 407, Union Trade Centre, Udhna Darwaja, Surat - 395002, Gujarat.
Email id:[email protected], Website: www.prashantindia.info
CIN: L15142GJ1983PLC006574, Contact No.+91-7228086858
Reporting of Segmentwise Revenue, Results and Capital Employed alongwith the quarterly results
(Rs. in lakhs)
| Particulars | Quarter ended | Year Ended | |||
|---|---|---|---|---|---|
| Audited | |||||
| 31.03.2026 | Unaudited | ||||
| 31.12.2025 | Audited | ||||
| 31.03.2025 | Audited | ||||
| 31.03.2026 | Audited | ||||
| 31.03.2025 | |||||
| 1. Segment Revenue | |||||
| ( net sale/ income from each segment should be disclosed under this head ) | |||||
| a. Textile | 5.66 | 0.00 | 5.00 | 5.92 | 18.74 |
| b. Wind farm | (4.90) | 0.00 | 2.74 | 3.81 | 11.45 |
| c. Unallocated | 4.11 | 1.13 | 0.01 | 4.20 | 0.10 |
| Total | 4.87 | 1.13 | 7.75 | 13.93 | 30.29 |
| Less : Inter Segment Revenue | 0.00 | 0.00 | - | 0.00 | 0.00 |
| Net sales /Income from operations | 4.87 | 1.13 | 7.75 | 13.93 | 30.29 |
| 2. Segment Results - | |||||
| ( Profit / Loss before tax and interest from each segment ) | |||||
| Textile | (55.04) | (0.95) | (0.04) | 959.76 | 0.66 |
| Windfam | 56.74 | (1.06) | 0.62 | 56.20 | (2.75) |
| Unallocated | 0.00 | 0.00 | - | 0.00 | 0.00 |
| Total | 1.70 | (2.01) | 0.58 | 1015.96 | (2.09) |
| Less : (i) Interest | 86.62 | 259.82 | 0.01 | 346.44 | 0.11 |
| (ii) Other un-allocable expenditure net off | 7.49 | 5.52 | 3.91 | 32.90 | 17.82 |
| (iii) unallocable income | 0.00 | 0.00 | - | 0.00 | 0.00 |
| Total profit before tax | (92.40) | (267.35) | (3.34) | 636.63 | (20.02) |
| 3. Capital Employed ( Segment assets - Segment liabilities ) | |||||
| Textile | (1582.37) | (1440.71) | (2,195.69) | (1582.37) | (2195.69) |
| Windfam | 148.88 | 92.14 | 92.68 | 148.88 | 92.68 |
| Unallocated | (1674.68) | (1667.21) | (1,641.80) | (1674.68) | (1641.80) |
Notes
1) The above Audited Financial Results have been reviewed and recommended by the Audit Committee and were approved and taken on record by the Board of Directors at its meeting held on 30.05.2026. The Statutory Auditors have carried out limited review of the results.
2) No provision for interest has been made in respect of borrowings from Secured Creditors for the year ended 31 March 2001 onwards; however, during the current year, the Company has made a provision of Rs.346.43 lakhs towards interest payable to Shantilon Poly Private Limited.
3) The Company has unabsorbed depreciation and carried forward losses under Tax Laws. Due to virtual uncertainty of sufficient future taxable income, net deferred tax assets have not been recognised by way of prudence in accordance with Accounting Standard (AS) 22 "Accounting for taxes on income" issued by the ICAI.
4) The figures for the corresponding quarter end that of previous year are regrouped/reclassified wherever necessary
5) The Figures for the quarters ended on 31st March, 2026 are the balancing figures between unaudited figures in respect of the nine months ended on 31st December, 2025 and the audited published year to date figures up to 31st March, 2026, being the end of the financial year which were subject to limited review.
7) The standalone audited financial results of the Company are available for investors at www.prashantindia.info and www.bseindia.com
8) Reconciliation between Ind AS and previous Indian GAAP for the Quarter ended on 31st Mar.' 2026 is as below
| (Rs. In lakhs) | |
|---|---|
| Particulars | For quarter ended 31st Mar.,2026 |
| Net profit after tax published as per previous GAAP | (92.40) |
| Add / (Less) : Adjustment as per Ind AS (Change in profit on investment) | 0.00 |
| Total comprehensive income for period as per Indian AS (A+B) | (92.40) |
Place : Surat
Date : 30-05-2026
For PRASHANT INDIA LTD.
Managing Director
Prabhudas Mohanbhai Gondalia
DIN: 00014809
Director/Authorised Signatory
PRASHANT INDIA LTD.
Regd. Office: 407, Union Trade Centre, Udhna Darwaja, Surat - 395002, Gujarat.
Email id:[email protected], Website: www.prashantindia.info
CIN: L15142GJ1983PLC006574, Contact No.+91-7228086858
| Statement of assets and liabilities - | (Rs. In lakhs) | |
|---|---|---|
| Particulars | Year ended | |
| 31.03.2026 | ||
| (Audited) | Year ended | |
| 31.03.2025 | ||
| (Audited) | ||
| B ASSETS : | ||
| 1. Non-current assets | ||
| (a) Property, plant & equipment | 40.93 | 41.04 |
| (b) Financial assets - Loans | 14.20 | 14.20 |
| (c) Deferred tax assets (net) | 0.00 | 0.00 |
| (d) Other non-current assets | 13.86 | 5.51 |
| Sub-total - Non-current assets | 68.99 | 60.75 |
| 2 Current assets | ||
| (a) Inventories - stock of fuel - coal | 0.00 | 0.00 |
| (b) Financial assets - | ||
| (i) Trade receivables | 7.36 | 7.60 |
| (ii) Cash and cash equivalents | 80.04 | 102.60 |
| (iii) Short-term loans and advances | 0.00 | 0.00 |
| (c) Other current assets | 14.02 | 86.30 |
| Sub-total - Current assets | 101.43 | 196.49 |
| Total -Assets | 170.41 | 257.24 |
| À EQUITY AND LIABILITIES : | ||
| 1. Equity | ||
| (a) Equity share capital | 423.54 | 423.54 |
| (b) Other equity | (3108.18) | (3744.81) |
| Sub-total - Equity | (2684.64) | (3321.27) |
| 2. Non-current liabilities | ||
| Sub-total - Non-current liabilities | 0.00 | 0.00 |
| 3. Current liabilities | ||
| (a) Financial liabilities | ||
| (i) Short-term borrowings | 2817.27 | 3460.59 |
| (ii) Trade payables | 1.59 | 2.00 |
| (ii) Other financial liabilities | 0.00 | 0.00 |
| (b) Other current liabilities | 0.00 | 114.00 |
| (c) Provisions | 36.19 | 1.92 |
| Sub-total - Current liabilities | 2855.052 | 3578.51 |
| Total - Equity and liabilities | 170.41 | 257.24 |
Place : Surat
Date : 30-05-2026
FOR PRASHANT INDIA LTD
For PRASHANT INDIA LTD.
Managing Director
Prabhudas Mohanbhai Gondalia
DIN: 00014809
Director/Authorised Signatory
PRASHANT INDIA LTD.
Regd. Office: 407, Union Trade Centre, Udhna Darwaja, Surat - 395002, Gujarat.
Email id:[email protected], Website: www.prashantindia.info
CIN: L15142GJ1983PLC006574, Contact No.+91-7228086858
| CASH FLOW STATEMENT | (Rs. In lakhs) | |
|---|---|---|
| Particulars | Year ended | |
| 31.03.2026 | ||
| (Audited) | Year ended | |
| 31.03.2025 | ||
| (Audited) | ||
| CASH FLOW FROM OPERATING ACTIVITIES - | ||
| Net profit before tax and extraordinary items | 636.63 | (20.02) |
| Adjustment for- | ||
| Taxation | - | 0.00 |
| Depreciation | 2.52 | 8.46 |
| Provision for doubtful debts | - | 0.00 |
| Profit / loss on sale of fixed assets & investments | (1,022.52) | 0.00 |
| Prior period items | - | 0.00 |
| Interest shown separately | 346.44 | 0.11 |
| Operating profit before working capital change | (36.93) | (11.45) |
| Adjustment for - | ||
| Trade & other receivable | 0.23 | 2.51 |
| Inventories | - | 0.00 |
| Other current assets, loans & advances | 72.27 | (84.43) |
| Change in non current assets excl. PPE | (80.73) | (0.45) |
| Trade payable, other current liabilities | (80.14) | (88.36) |
| CASH GENERATED FROM OPERATIONS | (125.29) | (90.18) |
| Interest paid | (346.44) | (0.11) |
| Tax refunds | - | (346.44) |
| CASH FLOW BEFORE EXTRA ORDINARY ITEMS | (471.73) | (90.29) |
| Less: Extraordinary items | - | - |
| Net cash flow from operating activities | (471.73) | (90.29) |
| CASH FLOW FROM INVESTING ACTIVITIES - | ||
| Purchase of fixed assets | - | 0.00 |
| Adjustment / Sale of fixed assets / investments | 1,092.49 | 187.73 |
| Net cash used in investment activities | 1,092.49 | 187.73 |
| CASH FLOW FROM FINANCING ACTIVITIES | ||
| Proceeds from issue of share capital | - | - |
| Proceeds from long term borrowing | - | - |
| Proceeds from short term borrowing | 643.32 | - |
| Repayment of Finance / Lease liabilities | - | - |
| Net cash outflow from financing activities | 643.32 | - |
| Net change in cash & cash equivalents | (22.56) | 97.44 |
| CASH AND CASH EQUIVALENTS - Op. Bal. | 102.60 | 5.16 |
| CASH AND CASH EQUIVALENTS - Cl. Bal. | 80.04 | 102.60 |
Place: Surat
Date: 30-05-2026
FOR PRASHANT INDIA LTD
For PRASHANT INDIA LTD.
Managing Director
Prabhudas Mohanbhai Gondalia
CIN: 00014609
Director/Authorised Signatory
CA
Ashish Bhoola & Co.
Chartered Accountants
803, Rajhans Bonista, B/h. Ram Chowk, Ghod Dod Road, Surat - 395007.
+91 99044 11125 | [email protected]
Statement on Impact of Audit Qualifications
Client Name: PRASHANT INDIA LIMITED
| Statement on Impact of Audit Qualifications of the Financial Year ended on March 31, 2026
[See Regulation 33 / 52 of the SEBI (LODR) (Amendment) Regulations, 2016] | | | | |
| --- | --- | --- | --- | --- |
| I. | Sr. No. | Particulars | Audited Figures (as reported before adjusting for qualifications) Rs. '000 | Adjusted Figures (audited figures after adjusting for qualifications) Rs. '000 |
| | 1. | Turnover / Total income | 1,393.393 | 1,393.393 |
| | 2. | Total Expenditure | 39,982.474 | 11,94,231.840 |
| | 3. | Net Profit/(Loss) before extraordinary items | -38,589.081 | -11,92,838.447 |
| | 4. | Extraordinary items | 1,02,251.735 | 1,02,251.735 |
| | 5. | Net Profit/(Loss) | 63,662.654 | -10,90,586.712 |
| | 6. | Earnings Per Share | 0.015 | -0.257 |
| | 7. | Total Assets | 17,041.252 | 16,158.222 |
| | 8. | Total Liabilities | 2,85,505.217 | 14,39,754.582 |
| | 9. | Net Worth | -2,68,463.965 | -14,22,713.330 |
| | 10. | Any other financial item(s) (as felt appropriate by the management) | | |
| II. | A | Audit Qualification (each audit qualification separately): | | |
| | | Note No. 20 (b): The company has not made any provision for the following - | | |
| | | Nature of liability | Amount (Rs. '000) | |
| | | Interest on Secured Creditor's Loans | 11,53,366.335 | |
| | | Non provision of doubtful debts | 883.030 | |
| | | Total | 11,54,249.365 | |
Page 1 of 3
| | | • Note No. 1(II)(a): Non provision for gratuity and leave encashment in contravention of Ind AS — 10. Impact therein is not readily ascertainable.
• Note No. 1(II)(d): The Accounts having been prepared on “Going Concern Basis” despite serious apprehensions on the Company’s ability to remain in operation for a foreseeable future due to the reasons mentioned in the notes. |
| --- | --- | --- |
| | B | Type of Audit Qualification: Qualified Opinion |
| | C | Frequency of qualification: Appearing for more than 10 years |
| | D | For Audit Qualification(s) where the impact is quantified by the auditor, Management's Views:
1. The Management’s plan is to get rid of all the debts and making the Company debt free by disposing of the existing assets of the Company, negotiating with secured creditors for waiver of debt against settlement of dues and thereafter to launch a new project finding out new investors.
2. Management had already filed civil suits against the Sundry debtors who are doubtful for recovery for due amount of Rs. 7,33,030/-.
3. Management has been following up for recovery of current asset of advance of Rs. 1,50,000/- deposited with RIL, Hazira. |
| | E | For Audit Qualification(s) where the impact is not quantified by the auditor:
The work force of the company comprises of only five persons including one CFO, one Full time CS, one staff at Agro division, two admin staff as on 31.03.2026. However, CFO has resigned from the company on 18.05.2026. Ascertainment of actuarial liability as laid down under Ind AS — 19 involves considerable cost, which is difficult for this Company to withstand. In view of this, the Company has decided to account same on cash basis only. |
| | | I. Management's estimation on the impact of audit qualification:
Management is unable to estimate the impact. |
| | | II. If management is unable to estimate the impact, reasons for the same:
Three staff members are rendering service since very long period and due to their long term relationship with the company, it is not possible to ascertain their retirement cost and the same will be negotiated as and when required and will be accounted on cash basis. Severance pay to CS or CFO may not be material in value and will be accounted on cash basis only. |
Page 2 of 3
| | | III. Auditors' Comments on (i) or (ii) above:
We concur with management’s opinion. | |
| --- | --- | --- | --- |
| | | | |
| III
: | | Signatories: | FOR PRASHANT INDIA LTD |
| | | • CEO/Managing Director : | Director Authorised Signatory |
| | | • Audit Committee Chairman : | Neamni |
| | | • Statutory Auditor : CA Ashish Bhoola | |
| | | | |
For Ashish Bhoola & Co.
Chartered Accountants
A Bhoola
(CA. Ashish P. Bhoola)
Partner
Membership No.109121
FRN: 120609W
UDIN: 26109121VONS05722
Place: SURAT
Date: 30.05.2026
Page 3 of 3