Union Quality Plastics Ltd
Revised Financial Results with Auditor''s Report.
RESULTS
▼ Concern Flagged
HIGH RISK
📅 Filed on BSE: 20 Jun 2026, 03:57 PM IST · BSE ID: fe36ea9f-2a57-4514-bc37-6364097246d1
View Original BSE Filing (PDF)
💡
In Simple Terms
The company's audit report for the financial year ending March 2026 raised major concerns about its financial health and ability to continue operations.
🤖 AI Summary
- Union Quality Plastics Ltd filed Revised Financial Results for the quarter and year ended March 31, 2026.
- Auditor issued a qualified opinion due to Rs. 55.57 lakhs net outstanding sundry debtors lacking additional ECL provision.
- Concerns raised on Rs. 158.06 lakhs closing stock without Net Realisable Value determination and slow-moving nature.
- Auditor noted Rs. 364.33 lakhs sundry creditors without confirmation and Rs. 429.75 lakhs in other current assets lacking details.
- Company has accumulated losses and eroded net worth, casting significant doubt on its ability to continue as a going concern.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Sundry Debtors outstanding (net of provision)
Rs. 55.57 lakhs
Closing Stock not moving more than two years
Rs. 158.06 lakhs
Sundry Creditors outstanding for over three years
Rs. 364.33 lakhs
Other current assets (Advance to related party)
Rs. 419.25 lakhs
Fixed deposits with City Bank (outstanding)
Rs. 14.30 lakhs
Long outstanding other Financial Assets (EMD/Tender deposits)
Rs. 87.78 lakhs
Assets as at 31-Mar-2026
Rs. 815.09 lakhs
Liabilities as at 31-Mar-2026
Rs. 978.38 lakhs
Equity Share Capital as at 31-Mar-2026
Rs. 76.88 lakhs
🏢 How This Affects the Company
The auditor's qualified opinion highlights substantial unconfirmed balances and unprovided losses, which could materially impact the reported financial position and performance.
The audit report introduces significant financial and operational risks due to issues with recoverability of Rs. 55.57 lakhs in debtors and the uncertainty surrounding Rs. 158.06 lakhs in inventory and Rs. 364.33 lakhs in creditors. The stated doubt about going concern is a critical risk factor.
👥 What This Means For Shareholders
✅
Action Required
No immediate action is required by shareholders based on this filing.
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Who Is Affected
All shareholders are affected by the qualified audit opinion and the stated doubt regarding the company's ability to continue as a going concern, which impacts the reliability of financial statements.
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Management Signal
The filing indicates management's submission of the audit report despite substantial unresolved financial discrepancies and a qualified opinion, highlighting transparency regarding current financial reporting challenges.
For information only. Not investment advice. ForgeUp is not SEBI-registered.
👁 Watch List — track these upcoming events
Next financial results — observe disclosure on specific qualified opinion items.
Auditor's comments — check if prior period issues are resolved in future reports.
Management response — look for initiatives addressing going concern doubt.
HIGH RISK
Multiple qualified opinion items, lack of confirmation for significant balances, and explicit going concern doubt indicate substantial financial risk.
⚖️ Strengths & Concerns
⚠️ Concerns
- The auditor noted Rs. 55.57 lakhs in net outstanding sundry debtors for over three years without additional Expected Credit Loss provision.
- Accumulated losses and eroded net worth, with current liabilities exceeding current assets, indicate significant doubt about the company's going concern ability.
❓ Frequently Asked Questions
What is the key finding in Union Quality Plastics Ltd's FY26 audit report?
The auditor issued a qualified opinion for the financial year ended March 31, 2026, citing multiple unresolved financial issues and significant doubt about the company's ability to continue as a going concern.
What specific debtor issues were highlighted in Union Quality Plastics Ltd's audit?
The audit report noted Rs. 274.83 lakhs in sundry debtors outstanding for over three years, with a net Rs. 55.57 lakhs remaining after prior provisions, for which no additional provision was made in the current quarter.
What inventory concerns did Union Quality Plastics Ltd's auditor identify?
The auditor reported Rs. 158.06 lakhs of closing stock not moving for more than two years, and the company had not determined the Net Realisable Value (NRV) for these inventories.
Were there issues with creditors in Union Quality Plastics Ltd's audit report?
Yes, Rs. 364.33 lakhs in sundry creditors were outstanding for over three years, and no confirmations had been received from these creditors by the auditor.
What raises doubt about Union Quality Plastics Ltd's going concern ability?
The company has accumulated losses, its net worth is fully eroded, and current liabilities exceeded current assets as of March 31, 2026, collectively indicating significant doubt about its ability to continue as a going concern.
Questions based on this BSE filing only. For information purposes.