Power Mech Projects Limited has issued a correction regarding typographical errors identified in the consolidated statement of assets and liabilities submitted for the quarter and year ended March 31, 2026. The company confirmed that these adjustments, which involved swapping ₹629.35 crore between ‘Current Tax Asset (net)’ and ‘Other Current assets’, do not impact the final figures reported in the balance sheet or affect stakeholders in any way.
Financial Statement Clarification
Power Mech Projects Limited has formally addressed a typographical error found within the consolidated financial statements for the period ending March 31, 2026. The error, which was identified following the initial submission on May 20, 2026, necessitated a correction in the classification of current assets to ensure absolute accuracy in the company’s financial reporting.
Details of the Rectification
The adjustments concern two specific asset heads within the consolidated statement of assets and liabilities. The previously published figures mistakenly reversed the amounts for Current Tax Asset (net) and Other Current assets. The corrected data reflects that Current Tax Asset (net) stands at ₹13.41 crore, while Other Current assets are reported at ₹629.35 crore as of March 31, 2026.
Assurance to Stakeholders
The company has explicitly confirmed that these typographical updates are strictly clerical in nature. These adjustments do not change the final figures reported in the respective balance sheets, nor do they have any material impact on the company’s overall financial position. Power Mech Projects maintains that these corrections do not affect any stakeholders and requests that this updated information be read alongside the financial results originally submitted.
Source: BSE
