Minolta Finance Limited has submitted revised unaudited financial results for the quarter ended September 30, 2026. This revised filing includes additional information and a statement on the impact of audit qualifications. The company requests that these revised results replace the earlier submission. The limited review report highlights several qualified opinions regarding accounting practices and disclosures.
Revised Financials Submission
Minolta Finance Limited has formally resubmitted its unaudited financial results for the quarter that concluded on September 30, 2026. This revised filing, presented in accordance with SEBI regulations, incorporates additional details and a comprehensive statement addressing the impact of audit qualifications. The company has formally requested that these updated financial results supersede the previous submission.
Key Audit Qualifications Noted
The accompanying limited review report from M/s. JCR & Co. LLP Chartered Accountants indicates several points requiring clarification or further action:
- Interest Expense Understatement: The company has not provided interest expense for certain loan accounts due to missing loan documents, leading to a potential understatement. The exact amount could not be quantified.
- Investment Ownership: Ownership documents for unquoted investments totaling ₹61.68 lakhs and stock-in-trade of ₹0.89 lakh were not available. The company is actively following up with concerned parties.
- BSE Penalty Disclosure: A penalty of ₹90,000 imposed by BSE was not disclosed as required by SEBI LODR Regulations.
- CFO Salary Accrual: The salary of the Chief Financial Officer (CFO) has not been accrued or paid, with the reason for the omission not being available to the auditors.
The management has provided explanations for these qualifications, stating that they are actively working to obtain necessary documentation and ensure compliance with applicable accounting standards and regulatory requirements. The company aims to address these points to prevent future deviations.
Statement on Fund Utilization
The company also provided a statement regarding the utilization of funds raised through a rights issue on July 30, 2026. The total amount raised was ₹48,00,00,000. The primary object for raising funds was to augment the company’s capital base, including the expansion of its NBFC financing business. The funds utilized to date match the original allocation, with no deviation reported for this specific object.
Source: BSE
