Audited Financial Results for the year ended on 31st March, 2026 along with Audit Report thereon and statement of Impact qualification.
RESULTS
▼ Concern Flagged
HIGH RISK
📅 Filed on BSE: 06 Aug 2026, 05:56 PM IST · BSE ID: 849dca6d-da09-4c49-992a-ffadb605268b
View Original BSE Filing (PDF)
💡
In Simple Terms
The company reported its full-year financial results, but auditors raised significant concerns about how some numbers were calculated.
🤖 AI Summary
- Shiva Granito Export Limited filed audited financial results for the year ended March 31, 2026.
- Auditors issued a qualified opinion due to four specific matters, impacting profit and balance sheet.
- Non-provision for expected credit loss of Rs. 7,74,37,115 (Ind AS 109) was highlighted.
- Net sales from operations for FY26 reached Rs. 1,173.00 lakhs, with a net loss of Rs. (5.80) lakhs.
- Concerns raised on inventory valuation, gratuity provision, and interest on delayed MSME payments.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Net Sales/ Revenue from Operations (Year Ended 31.03.2026)
Rs. 1,173.00 lakhs
Net Profit / (Loss) for the period (Year Ended 31.03.2026)
Rs. (5.80) lakhs
Basic Earning Per Share (Year Ended 31.03.2026)
Rs. (0.04)
Non-provision for expected credit loss (FY26)
₹7,74,37,115
Total Revenue (Year Ended 31.03.2026)
Rs. 1,178.21 lakhs
Total expenses (Year Ended 31.03.2026)
Rs. 1,176.75 lakhs
🏢 How This Affects the Company
The auditor's qualified opinion highlights potential understatement of expenses and overstatement of assets. Had provisions been made, profit before tax would have decreased by at least Rs. 7,74,37,115 for FY26, and trade receivables/equity would be lower by the same amount.
The absence of required stock records and valuation reports indicates a lapse in internal controls related to inventory management.
The qualified audit opinion and identified non-compliances with Ind AS 109 and Ind AS 19 introduce significant financial reporting and compliance risks.
👥 What This Means For Shareholders
✅
Action Required
No direct action required from shareholders based on this filing.
👤
Who Is Affected
All shareholders are affected by the qualified audit opinion, as it indicates material uncertainties and non-compliance in the company's financial reporting, potentially impacting perceived asset values and reported profits.
🔍
Management Signal
The qualified audit opinion suggests that management has not addressed critical accounting standard compliances for expected credit loss, inventory valuation, and employee benefits.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Q1 FY27 results — review if auditor's qualifications are addressed by management.
Annual Report FY26 — check management's response to audit qualifications and action plan.
Next board meeting outcome — see if new auditors are appointed or policies changed.
HIGH RISK
The audit report contains multiple material qualifications indicating significant non-compliance with accounting standards and lack of sufficient audit evidence.
💡 Investor Takeaway
Shiva Granito Export Limited reported a Net Loss of Rs. (5.80) lakhs for the year ended March 31, 2026, on Net Sales of Rs. 1,173.00 lakhs. The audit report includes a qualified opinion citing non-provision for expected credit loss of Rs. 7,74,37,115 and issues with inventory valuation.
⚖️ Strengths & Concerns
⚠️ Concerns
- Auditor noted non-provision for expected credit loss of Rs. 7,74,37,115, non-compliant with Ind AS 109, overstating trade receivables and equity.
- Auditors were unable to verify inventory valuation due to non-availability of required stock records and valuation reports at year-end.
📅 Company Track Record
Shiva Granito Export Limited was incorporated on October 01, 2015, as indicated by its CIN (L14200RJ2015PLC048974). This filing represents its audited financial results for the year ended March 31, 2026, providing a recent financial overview.
Based on publicly available historical data. For context only.
❓ Frequently Asked Questions
What were Shiva Granito Export's net sales for the year ended March 31, 2026?
Shiva Granito Export Limited reported net sales/revenue from operations of Rs. 1,173.00 lakhs for the year ended March 31, 2026.
What was the net profit or loss for Shiva Granito Export for FY26?
The company reported a Net Profit / (Loss) for the period of Rs. (5.80) lakhs for the year ended March 31, 2026.
What was a key reason for the auditor's qualified opinion for Shiva Granito Export in FY26?
A key reason for the qualified opinion was the company's non-provision for expected credit loss of ₹7,74,37,115, which is not in compliance with Ind AS 109.
Were there any issues with inventory valuation in Shiva Granito Export's FY26 audit?
Yes, auditors noted that the company did not provide appropriate valuation of inventories due to non-availability of required stock records and valuation reports as at March 31, 2026.
Questions based on this BSE filing only. For information purposes.