Vaxfab Enterprises Limited reported a standalone profit of ₹363.80 lakh for the financial year ended March 31, 2026, but the statutory auditor, M/S Chandabhoy & Jassoobhoy, issued a disclaimer of opinion on the annual financial results. The auditor cited the inability to obtain sufficient audit evidence regarding the completeness and accuracy of balances due to inadequate maintenance of books of account and records by the previous management. The company's Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, during a meeting held on May 30, 2026.

The disclaimer of opinion stems from several material issues, including the absence of balance confirmations from debtors and creditors, and the granting and receiving of unsecured loans without formal agreements. Additionally, the company failed to maintain requisite records to identify and classify creditors under the Micro, Small and Medium Enterprises Development Act, 2006. The auditor noted that these inadequacies prevented the verification of compliance with Indian Accounting Standards (Ind AS) and other accounting principles generally accepted in India.

Standalone Financial Performance

For the financial year ended March 31, 2026, Vaxfab Enterprises Limited reported a total revenue of ₹9959.59 lakh, a significant increase from ₹5937.66 lakh in the previous year. Total expenses for the period stood at ₹9442.12 lakh, compared to ₹5867.30 lakh in the prior year. The profit before tax for the year was ₹517.47 lakh, while the profit for the period from continuing operations was ₹363.80 lakh. The basic and diluted earnings per share (EPS) for the year were reported at ₹4.33.

Consolidated Results and Auditor's Report

The consolidated financial results for the group, which includes subsidiaries Eklingji Tradelink Private Limited and Satvat Agro LLP, reflected a loss of ₹463.08 lakh for the year ended March 31, 2026, compared to a profit of ₹48.93 lakh in the previous year. Total consolidated revenue for the year was ₹13675.13 lakh, with total expenses amounting to ₹13986.76 lakh. The auditor also issued a disclaimer of opinion on the consolidated results, citing similar issues regarding unsecured loans without interest charges and the inability to verify the accuracy of balances within the group entities.

The auditor's report highlighted that the group had granted and received unsecured loans without formal loan agreements and, in certain cases, without obtaining balance confirmations. Furthermore, no interest was charged or provided on such loans. The consolidated balance sheet as of March 31, 2026, showed total assets of ₹20378.29 lakh and total equity and liabilities of ₹20378.29 lakh, with current liabilities constituting a significant portion of the structure.

Vaxfab Enterprises Limited has informed the exchanges that its board will meet on Saturday, May 30, 2026. The primary agenda of the meeting is to consider and approve the audited financial results of the company for the quarter and year ended on March 31, 2026.

In a regulatory filing, the company stated that the trading window for dealing in its securities by all designated persons has been closed since April 01, 2026. This closure will continue to remain in effect until 48 hours after the submission of the financial results for the quarter ended March 31, 2026.

Meeting Details

The board meeting is convened in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations. The approval of the audited financial results will mark the conclusion of the financial reporting for the fiscal year 2025-26.