Aurique Q1FY27 net profit at ₹5.64 lakh, auditor issues disclaimer

2 min read Updated on 17 Jul 2026, 01:15 PM

Reviewed by

Ashish TScanX News Team

AI Summary

Aurique Limited reported a net profit of ₹5.64 lakh for the quarter ended June 30, 2026, recovering from a net loss of ₹21.51 lakh in the same period last year. Revenue from operations reached ₹104.50 lakh. The statutory auditor issued a disclaimer of opinion, citing insufficient evidence regarding debtors, creditors, and bank account operations, alongside concerns over dividend payouts and equity balances.

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Aurique Limited reported a net profit of ₹5.64 lakh for the quarter ended June 30, 2026, a turnaround from the net loss of ₹21.51 lakh recorded in the corresponding period of the previous year. Revenue from operations for the quarter stood at ₹104.50 lakh, compared to nil in the prior year. The company's equity share capital increased to ₹130 lakh following a bonus issue.

The Board of Directors approved the unaudited standalone financial results for Q1FY27 at a meeting held on July 15, 2026. Alongside the results, the board approved the change in category of Mr. Nimeshkumar Ganpatbhai Patel from 'Promoter' to 'Professional Director', effective July 15, 2026. He continues to serve as the Managing Director of the company.

J.M. Patel & Bros, Chartered Accountants, issued a disclaimer of opinion on the limited review report, stating they were unable to obtain sufficient appropriate evidence to provide a basis for a review conclusion. The auditor cited several material and pervasive matters restricting their ability to verify the financial results.

The auditor highlighted the absence of external confirmations and bank trails for debtors and creditors. Specifically, no independent confirmations were provided for Sundry Debtors due from Plenta Foods LLP or Sundry Creditors due to Alphentine Foods Private Limited. Furthermore, there were no cash flow transactions in these ledgers during the quarter, casting doubt on the existence and recoverability of these balances.

Concerns were also raised regarding the legality of the dividend payout. The auditor noted that the company transferred ₹2,00,000 to an Unpaid Dividend Account on June 1, 2026, and initiated payouts from June 9, 2026, despite the main bank account having a closing balance of only ₹15,811.73 as of April 1, 2026, and no cash realization from operations during the quarter.

Additionally, the auditor pointed out that active bank accounts continued to be operated under the company's former name, PAE Limited, despite the official name change to Aurique Limited on May 11, 2026. Out of 10 bank accounts reflected in the books, statements and confirmations were not provided for 8 accounts, preventing verification of bank balances. The auditor also expressed inability to verify the correctness of opening equity balances due to a quasi-equity write-off of ₹5,38,84,446 against accumulated losses.

Financial Performance Summary

Particulars	3 months ended (30/06/2026)	Preceding 3 months ended (31/03/2026)	Corresponding 3 months ended (30/06/2025)
Revenue from Operation	104.50	253.13	0.00
Total Revenue	104.50	253.64	0.00
Total Expenses	98.86	175.14	21.51
Profit / (Loss) before tax	5.64	78.50	-21.51
Net Profit / (Loss) for the period	5.64	78.50	-21.51
Earnings Per Share (Basic)	0.43	7.85	-2.15

Historical Stock Returns for Aurique

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.91%	+4.91%	+54.22%	-5.73%	+38.67%	+38.67%

How will the auditor's disclaimer of opinion and the inability to verify bank balances impact investor confidence and the company's ability to secure future funding?

What specific steps will management take to resolve the material irregularities regarding the dividend payout given the insufficient cash balance?

Will the reclassification of Mr. Patel from 'Promoter' to 'Professional Director' lead to further changes in the company's governance structure or ownership strategy?