Shree Rajasthan Syntex Ltd. has announced the outcome of its Board Meeting held on August 12, 2026. The Board considered and approved the unaudited standalone financial results for the quarter ended June 30, 2026. The accompanying auditor’s report highlights a material uncertainty related to the going concern of the company due to continuous losses and liabilities exceeding current assets, though management believes the going concern basis remains appropriate.
Board Approves Financial Results for Q1 FY27
Shree Rajasthan Syntex Ltd. has officially announced the approval of its unaudited standalone financial results for the quarter ended June 30, 2026. This decision was made during the Board of Directors’ meeting held on Wednesday, August 12, 2026, which commenced at 3:30 PM and concluded at 4:30 PM.
Auditor’s Report Highlights Going Concern Uncertainty
The independent auditor’s report, provided by Doogar & Associates, Chartered Accountants, indicates a material uncertainty regarding the company’s ability to continue as a going concern. This concern stems from continuous losses over past years and a net loss of INR 77.83 Lakhs for the quarter ended June 30, 2026. Additionally, current liabilities exceed current assets. Despite these conditions, the management, based on future projections and mitigating factors, believes the going concern basis of accounting is appropriate for the preparation of the financial statements. The auditors’ conclusion is not modified in respect of this matter.
Trading Window Closure
In compliance with SEBI (Prohibition of Insider Trading) (Amendment) Regulations, 2018, the company has closed its trading window effective July 1, 2026. The window will remain closed until 48 hours after the declaration of the financial results.
Utilization of Funds
The company also provided details on the utilization of funds raised from a preferential issue of 8,125,000 equity shares at Rs. 13.25 per share, aggregating to Rs. 10,76,56,250. As of June 30, 2026, a total of Rs. 1009.17 Lakhs has been utilized. The largest allocation was for financing working capital requirements (Rs. 456.56 Lakhs), followed by capital expenditure (Rs. 232.61 Lakhs utilized out of Rs. 300.00 Lakhs allocated). A significant portion of Rs. 40.70 Lakhs remains unutilized for capital expenditure.
Source: BSE
