Boston Commerce Limited reported a net loss of ₹717.61 lakh for the financial year ended March 31, 2026, with statutory auditors issuing a modified opinion on the financial results. The auditors flagged material uncertainties regarding the company's ability to continue as a going concern due to significant write-offs and non-compliance with tax regulations. The company's total assets fell to ₹76.86 lakh, while net worth turned negative at ₹127.15 lakh.

The Board of Directors reviewed and approved the audited standalone financial results on June 5, 2026. The filing submitted to the BSE corrected a previous error that had incorrectly stated the audit opinion was unmodified. M/s Sunit M Chhatbar & Co., Chartered Accountants, issued the qualified audit report, highlighting that the company wrote off a majority of its assets and liabilities during the quarter ended March 31, 2026. Management stated these balances were old, non-recoverable, and lacked documentary evidence.

Auditors noted that these write-offs, which constitute a majority of the company's total asset base, indicate a material uncertainty. Furthermore, the auditors reported they did not receive a special resolution from shareholders to validate the authorization of this material write-off, despite receiving a Board Resolution. The audit report also disclosed that the company did not make any payments towards Tax Deducted at Source (TDS) dues during the financial year 2025-26 as required under the Income-tax Act, 1961.

Financial performance for the year showed revenue from operations at ₹48.37 lakh, a significant increase from ₹19.25 lakh in the previous year. However, total expenses surged to ₹676.85 lakh from ₹73.98 lakh in the prior year. The company reported a basic and diluted loss per share of ₹10.25 for the year, compared to a loss of ₹0.78 in the previous year.

The statement of assets and liabilities revealed a sharp contraction in the company's financial position. Non-current assets dwindled to ₹0.01 lakh from ₹579.40 lakh in the previous year, while current assets decreased to ₹68.40 lakh from ₹601.86 lakh. On the liabilities side, borrowings stood at ₹165.62 lakh, and other financial liabilities were recorded at ₹24.90 lakh. The total equity and liabilities were reported at ₹76.86 lakh, down from ₹1,490.37 lakh in the prior year.

Financial Results for FY26

Management stated that the financial impact of the write-offs has already been accounted for and no further financial impact arises on the financial statements. Regarding the unpaid TDS dues, management indicated that the impact of interest, penalty, and other consequential liabilities would be determined upon reconciliation and assessment by the relevant authorities. The company operates as a single reportable segment under Ind AS-108.

Boston Commerce Limited has scheduled a meeting of its Board of Directors on Friday, June 05, 2026, to consider a proposal for the reduction of the company's share capital. The agenda includes seeking necessary approvals, consents, and sanctions as required under the applicable provisions of the Companies Act, 2013, and other relevant laws. The meeting will also cover any other matter with the permission of the Chair.

Meeting Details

The Board meeting will be convened pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The primary focus of the meeting is to evaluate and potentially approve the capital reduction plan.

The company, formerly known as Boston Bio Systems Limited, is registered at A.828, Sun West Bank, Ashram Road P.O, Ahmedabad, Gujarat. The intimation was submitted by Ghanshyam Dhananjay Gavali, Managing Director.