Boston Commerce Limited reported a net loss of ₹717.61 lakh for the financial year ended March 31, 2026, as revenue from operations fell to ₹48.37 lakh from ₹19.25 lakh in the previous year. The company’s statutory auditors, M/s Sunit M Chhatbar & Co, issued a qualified opinion on the standalone financial results, citing material uncertainties regarding the entity's ability to continue as a going concern due to significant write-offs of assets and liabilities.

The board approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026. The filing was submitted to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The auditors highlighted that during the quarter ended March 31, 2026, the company wrote off the majority of its assets and liabilities based on management assessments that these balances were old, non-recoverable, and lacked documentary evidence.

Financial Performance

The company’s total income for FY26 stood at ₹48.37 lakh, a decline from ₹19.25 lakh in the prior year. Total expenses increased to ₹676.85 lakh from ₹73.98 lakh in FY25. The basic and diluted earnings per share (EPS) for the year were reported as a loss of ₹10.25 per share, compared to a loss of ₹0.78 per share in the previous year. For the quarter ended March 31, 2026, the company reported a net loss of ₹724.11 lakh.

Audit Qualifications and Going Concern Risks

The statutory auditors identified two key issues leading to the qualified opinion. First, the material write-offs constituted a majority of the company's total asset base, creating a material uncertainty regarding its future viability. Additionally, the auditors noted they had not received a special resolution from shareholders to validate the authorization of these material write-offs, despite receiving a board resolution.

Second, 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. The management stated that the financial effect of the write-offs had been accounted for and that the impact of non-payment of TDS dues, including interest and penalties, would be determined upon assessment by relevant authorities.

Balance Sheet and Cash Flows

The company’s total assets as of March 31, 2026, stood at ₹76.86 lakh, a significant decrease from ₹1,490.37 lakh in the previous year. Shareholders' funds turned negative, standing at ₹(127.15) lakh compared to ₹590.45 lakh in FY25. Cash and cash equivalents increased to ₹8.45 lakh from ₹4.29 lakh in the prior year. The net cash flow from operating activities was ₹441.87 lakh, while financing activities resulted in an outflow of ₹437.71 lakh.

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.