Antarctica Ltd returns to profitability with FY26 net profit of ₹127.58 lakh
Antarctica Limited posted a net profit of ₹127.58 lakh for FY26, recovering from a loss of ₹32.33 lakh in FY25, as revenue rose to ₹6290.50 lakh. The statutory auditor issued a disclaimer of opinion due to missing loan documents, unverified inventory, and the absence of a fixed assets register. The board approved the audited standalone results on June 26, 2026.
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Antarctica Limited returned to profitability in the financial year ended March 31, 2026, reporting a net profit of ₹127.58 lakh compared to a net loss of ₹32.33 lakh in the previous year. The company's revenue from operations surged to ₹6290.50 lakh, a significant increase from ₹2504.72 lakh in FY25, primarily driven by purchases of stock-in-trade which totaled ₹6020.58 lakh. For the quarter ended March 31, 2026, the company reported a net loss of ₹8.24 lakh on revenue of ₹3047.45 lakh.
The Board of Directors approved the standalone audited financial results on June 26, 2026. The results were reviewed by the Audit Committee prior to approval. The company stated that it does not have any subsidiary, joint venture, or associate companies and therefore does not prepare consolidated financial results.
Financial Performance
The turnaround in annual profitability was supported by a total income of ₹6371.53 lakh for the year. Total expenses for FY26 stood at ₹6216.39 lakh, up from ₹2537.67 lakh in the preceding year. The company’s paid-up equity share capital remained constant at ₹1550.10 lakh during the period. Earnings per share (EPS) for the year improved to ₹0.08 from a loss of ₹0.02 in FY25.
| Metric | FY26 (₹ in Lakhs) | FY25 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 6290.50 | 2504.72 |
| Total Revenue | 6371.53 | 2505.34 |
| Total Expenses | 6216.39 | 2537.67 |
| Net Profit/(Loss) | 127.58 | (32.33) |
| EPS (Basic) | 0.08 | (0.02) |
Audit Qualifications
Chandabhoy & Jassoobhoy Chartered Accountants, the statutory auditors, issued a disclaimer of opinion on the standalone financial results. The auditors cited four primary reasons for the disclaimer: the company obtained unsecured loans without charging interest and failed to provide loan agreements for verification; physical verification of inventory was not carried out; the company did not recognize deferred tax assets or liabilities; and a fixed assets register was not maintained.
Additionally, the auditors noted that certain trade receivables have remained outstanding for a considerable period without balance confirmations, creating uncertainty regarding their recoverability. The management, however, represented that these amounts are fully recoverable and did not recognize any impairment provision. The company also disclosed that it has not identified any vendors qualifying as Micro, Small and Medium Enterprises (MSMEs), and consequently, no disclosures relating to MSME dues were made.
Historical Stock Returns for Antarctica
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -2.50% | -2.50% | -19.59% | -36.59% | -2.50% |
How will the company address the auditors' disclaimer of opinion regarding the lack of physical inventory verification and missing fixed assets register?
What steps will management take to regularize the unsecured interest-free loans and provide the necessary loan agreements for audit verification?
Will the company recognize deferred tax assets or liabilities in the upcoming fiscal year to comply with accounting standards?
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