Advance Syntex FY26 loss narrows to ₹60.34 lakh
Advance Syntex Limited reported a narrowed net loss of ₹60.34 lakh for the fiscal year ended March 31, 2026, compared to a loss of ₹1,841.56 lakh in FY25. The company recorded nil revenue from operations and an other income of ₹14.97 lakh. Total assets decreased to ₹1,250.01 lakh, while total equity remained negative at ₹1,302.32 lakh. Auditors issued an adverse opinion, citing the closure of business activities and non-compliance with IndAS.
*this image is generated using AI for illustrative purposes only.
Advance Syntex Limited has announced its audited financial results for the year ended March 31, 2026. The Board of Directors adopted the audited financial statements during a meeting held on May 21, 2026. The company reported a total comprehensive loss of ₹60.34 lakh for the year, a significant reduction compared to a loss of ₹1,841.56 lakh in the previous year.
Financial Performance
The company's revenue from operations stood at nil for the quarter and year ended March 31, 2026. Other income for the year was reported at ₹14.97 lakh. Total expenses for the year amounted to ₹75.31 lakh, a decrease from ₹39.29 lakh in the prior year. The company reported a basic and diluted earnings per share (EPS) of (₹0.54) for the year.
| Particulars | Year Ended 31.03.2026 (Amt. in lakhs) | Year Ended 31.03.2025 (Amt. in lakhs) |
|---|---|---|
| Revenue from operations | 0.00 | 0.00 |
| Other Income | 14.97 | 0.00 |
| Total Income | 14.97 | 0.00 |
| Total Expenses | 75.31 | 39.29 |
| Net Profit/(Loss) for the period | (60.34) | (1,841.56) |
Balance Sheet Highlights
The total assets of the company decreased to ₹1,250.01 lakh as of March 31, 2026, from ₹1,342.21 lakh in the previous year. Total equity stood at a negative ₹1,302.32 lakh, indicating a negative net worth. Total liabilities were reported at ₹1,250.01 lakh, comprising non-current liabilities of ₹687.84 lakh and current liabilities of ₹1,864.49 lakh.
Auditor's Report
VRAJM & Associates, Chartered Accountants, issued an adverse opinion on the financial results. The auditors noted that the business activity is closed and the "going concern" assumption is not sustainable. Consequently, the company has not followed Indian Accounting Standards (IndAS). The report also highlighted that the lender bank sold fixed assets and stock under the SARFAESI Act, 2002, but did not provide separate information for specific asset categories, leading to entries based on available information. Additionally, the auditors stated that trade receivables require impairment and that total comprehensive loss is understated.
Given the adverse auditor opinion and unsustainable going concern assumption, what regulatory actions could SEBI or stock exchanges take against Advance Syntex Limited, and what is the likely timeline for delisting proceedings?
With the lender bank having already invoked SARFAESI Act to sell fixed assets and stock, what remaining recovery options do creditors have against the company's negative net worth of ₹1,302.32 lakh?
Since auditors flagged that total comprehensive loss is understated due to unimpaired trade receivables, what could the actual financial position look like once full impairment provisions are applied?
16
Access Market Heat-map & Insights 
Create, Save & Share your Screener 
Use 200+ Screening Filters 
