Evoq Remedies Limited reported a net loss of ₹23.99 lakh for the year ended March 31, 2026, a sharp decline from the net profit of ₹8.82 lakh in the previous year. Revenue from operations for the year stood at ₹2,550.68 lakh, compared to ₹1,175.67 lakh in FY25. The company's board approved the audited financial results for the half-year and year ended March 31, 2026, during a meeting held on May 30, 2026.

The statutory auditor, H Thakkar & Co. LLP, issued a qualified opinion on the financial results, citing material uncertainty related to the company's ability to continue as a going concern. The report highlights significant liquidity stress, evidenced by cash losses, curtailed business operations, and the failure to discharge statutory obligations such as unpaid income tax provisions of ₹61.63 lakh and unpaid Tax Deducted at Source (TDS) of ₹38.76 lakh.

Audit Qualifications and Compliance Issues

The auditor identified several non-compliances and financial irregularities. The company extended short-term loans aggregating ₹670.26 lakh to three related parties without prior approval from the Audit Committee, violating Sections 177, 185, 188, and 189 of the Companies Act, 2013. Additionally, debtor balances aggregating ₹385.46 lakh and advances to suppliers of ₹1,251.18 lakh remained unconfirmed as of March 31, 2026, making their recoverability uncertain.

The auditor also noted that the company has not implemented accounting software with a non-disableable audit trail as mandated by the Companies (Accounts) Rules, 2014. Furthermore, the company has not appointed an Internal Auditor as required under Section 138 of the Companies Act, 2013, leading to inadequate oversight of internal controls.

Regulatory Proceedings and Contingent Liabilities

Evoq Remedies is subject to active investigation by the Securities and Exchange Board of India (SEBI), including a Show Cause Notice dated November 25, 2024, regarding the utilization of ₹19.21 crore raised through a Preferential Issue. The auditor stated that adverse regulatory outcomes could not be ruled out and might require restatement of financial results or disgorgement of funds.

The company faces significant contingent liabilities, including a GST demand of ₹655.03 lakh for FY 2017-18 and an Income Tax demand of ₹187.92 lakh, both currently under litigation. The board also appointed M/s. Jay Pandya & Associates as Secretarial Auditor for the financial year 2025-26.

Evoq Remedies Limited has notified BSE Limited of a rescheduling of its upcoming Board of Directors meeting. The meeting, originally scheduled for Thursday, May 14, 2026, at 4:00 P.M., has now been moved to Wednesday, May 27, 2026, at 4:00 P.M. The intimation was filed on May 11, 2026, pursuant to Regulation 29(1) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting will continue to be held at the company's registered office at A-1106, Empire Business Hub, Near AUDA Water Tank, Science City Road, Sola, Ahmedabad – 380 060.

Revised Board Meeting Details

The following table summarises the updated key details of the rescheduled board meeting:

Agenda for the Meeting

The Board of Directors will convene at the revised date to consider and approve the following items:

• Audited Financial Results of the company for the half year and year ended on March 31, 2026, along with the Auditor's Report
• Any other matter to be discussed and considered with the permission of the Chairperson of the Board Meeting

Authorised Signatory

The rescheduling intimation has been digitally signed and submitted by Bhumishth Patel, Managing Director of Evoq Remedies Limited (DIN: 02516641), and filed with BSE Limited on May 11, 2026.