1. Audited Standalone and Consolidated Financial Results for the quarter and year ended 31st March 2026, along with Audit Report as issued by the Statutory Auditors of the Company.
2. ....
RESULTS
▼ Concern Flagged
HIGH RISK
📅 Filed on BSE: 25 Jun 2026, 06:55 PM IST · BSE ID: 65d6b517-3982-42a9-9250-d7e236c47d1a
View Original BSE Filing (PDF)
💡
In Simple Terms
Auditors found several issues with GV Films' financial records, including unconfirmed balances and unaddressed employee benefit liabilities.
🤖 AI Summary
- GV Films Ltd received a qualified audit opinion for standalone financial results for the year ended March 31, 2026.
- Auditor noted unconfirmed balances for trade payables, receivables, investments, loans, stock, and capital work in progress.
- Company did not recognize gratuity liability based on actuarial valuation under IND AS 19.
- Underlying agreements for Foreign Currency Convertible Bonds (FCCBs) were not furnished, impacting audit opinion on principal and interest.
- No provision was made for a Rs. 16.99 Lakh outstanding TDS demand, disclosed as contingent liability.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Outstanding TDS Demand (unprovisioned)
Rs 16.99 Lakhs
Income Tax Demand (AY2016-17)
Rs. 1,204 Lakhs
GST Demand
Rs. 341.80 lakhs
Interest Payable on FCCBs (FY26)
USD $65,250/- (INR equivalent Rs. 61,49,813/-)
🏢 How This Affects the Company
The qualified audit opinion and noted discrepancies indicate potential misstatements in reported financial figures, including employee benefits, liabilities, and assets.
The auditor highlighted the presence of several inoperative bank accounts, indicating potential operational inefficiencies or control weaknesses.
The qualified audit opinion, unconfirmed balances, and non-compliance with IND AS 19 and IND AS 37 introduce significant financial reporting and regulatory risks for the company.
👥 What This Means For Shareholders
✅
Action Required
Shareholders should review the audit report and accompanying financial statements to understand the nature and extent of the qualifications.
👤
Who Is Affected
All shareholders are affected by the qualified audit opinion, which impacts the reliability and accuracy of the company's reported financial position.
🔍
Management Signal
The audit qualifications suggest potential weaknesses in internal financial controls, financial reporting practices, and transparency regarding key financial agreements.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Company response to audit qualifications and proposed rectification measures
Outcome of appeal against Income Tax demand of Rs. 1,204 Lakhs for AY2016-17
Outcome of appeal against GST demand of Rs. 341.80 lakhs
HIGH RISK
Multiple audit qualifications and significant unconfirmed balances indicate substantial financial reporting and operational risks.
💡 Investor Takeaway
GV Films Ltd's FY26 standalone financial results received a qualified audit opinion. Key issues include unconfirmed balances for trade payables, receivables, and investments, along with non-recognition of gratuity liability under IND AS 19 and unverified FCCB details, impacting financial transparency.
⚖️ Strengths & Concerns
⚠️ Concerns
- Auditors could not confirm balances for trade payables, receivables, investments, and loans, raising questions about asset and liability accuracy.
- Company did not recognize gratuity liability under IND AS 19, affecting the reported cost of employee benefits and disclosures.
📅 Company Track Record
No previous filings found for GV Films Ltd, indicating limited public financial disclosure history prior to this filing.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What is the primary concern highlighted in GV Films Ltd's FY26 audit report?
The primary concern is the inability to confirm balances for trade payables, trade receivables, investments, loans and advances, stock-in-trade, and capital work in progress.
What issue was noted regarding employee benefits in GV Films Ltd's FY26 audit?
The company has not recognized its defined benefit obligations for gratuity based on actuarial valuation as required under IND AS 19.
What was the auditor's concern about Foreign Currency Convertible Bonds (FCCBs) for GV Films Ltd in FY26?
The auditor was not furnished with the underlying agreement for the FCCBs, preventing an opinion on the outstanding principal balance, equity/liability bifurcation, and actual interest payable (USD $65,250/- or Rs. 61,49,813/-).
Did GV Films Ltd make a provision for the outstanding TDS demand in FY26?
No, the company did not make a provision for the Rs 16.99 Lakhs outstanding TDS demand, instead disclosing it as a contingent liability.
What is the status of the income tax demand against GV Films Ltd for AY2016-17?
An income tax demand of Rs. 1,204 Lakhs has been made, with the company's bank account attached in March 2023, and a lien of Rs. 1,213 lakhs imposed in April 2024.
Questions based on this BSE filing only. For information purposes.