3C ITS corrects FY26 audit report date and board meeting time
3C IT Solutions & Telecoms (India) Limited corrected clerical errors in its FY26 audit report, adjusting the board meeting time to 12:20 P.M. and the audit date to May 30, 2026. The company reported a net profit of ₹57.52 lakh for FY26, a turnaround from the previous year's loss, driven by a 60.2% rise in revenue. IPO proceeds of ₹849.86 lakh were fully utilised by March 31, 2025.
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3C IT Solutions & Telecoms (India) Limited submitted a corrigendum to its audited financial results for the financial year ended March 31, 2026, correcting clerical errors in the initial filing dated May 30, 2026. The company clarified that the conclusion time of the board meeting held on May 30, 2026, was 12:20 P.M. rather than the erroneously stated 12:20 A.M. Additionally, the date mentioned in the Audit Report was corrected to May 30, 2026, from the previously reported May 29, 2026. The company confirmed that these changes do not affect the financial results, board decisions, or other disclosures submitted earlier.
The statutory auditors, CMRS & Associates LLP, issued an unmodified opinion on the financial results. However, the auditor's report highlighted that management did not conduct a physical verification of inventory as of the balance sheet date. Consequently, the auditors were unable to perform alternative procedures to verify the existence and valuation of inventory, relying instead on management representations.
Financial Performance
The company returned to profitability in FY26, reporting a net profit of ₹57.52 lakh compared to a net loss of ₹5.70 lakh in the previous year. The turnaround was driven by a 60.2% increase in revenue from operations, which rose to ₹5,847.26 lakh from ₹3,650.59 lakh in FY25. Total income for FY26 stood at ₹5,865.78 lakh, up from ₹3,680.19 lakh in the previous year. Total expenses increased to ₹5,806.84 lakh from ₹3,668.02 lakh. Profit before tax for the year improved to ₹58.94 lakh from ₹12.16 lakh. Earnings per share (basic) for the year was ₹0.96, compared to a loss of ₹0.09 per share in FY25.
| Particulars | FY26 (₹ in Lakhs) | FY25 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 5,847.26 | 3,650.59 |
| Total Income | 5,865.78 | 3,680.19 |
| Total Expenses | 5,806.84 | 3,668.02 |
| Profit Before Tax | 58.94 | 12.16 |
| Net Profit | 57.52 | (5.70) |
| Earnings Per Share (Basic) | 0.96 | (0.09) |
IPO Proceeds Fully Utilised
The board noted the full utilisation of Initial Public Offering (IPO) proceeds. The company raised ₹849.86 lakh through its IPO and utilised the entire amount by March 31, 2025, for funding working capital requirements, repayment of borrowings, and general corporate purposes. Consequently, the reporting requirements under Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, have been closed as no unutilised amount remains outstanding.
Historical Stock Returns for 3C IT Solutions & Telecoms
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | +7.89% | -4.06% | -41.10% | -63.35% |
How does the company plan to sustain the 60% revenue growth in FY27 without the additional capital support from IPO proceeds?
What specific measures will management implement to address the auditor's concerns regarding the lack of physical inventory verification?
With working capital now fully funded by IPO proceeds, what strategy will the company use to finance future operational expansion?
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