Quasar India posts FY26 net loss of ₹18.93 lakh

Quasar India Limited reported a net loss of ₹18.93 lakh for the financial year ended March 31, 2026, reversing from the net profit of ₹2.45 lakh recorded in FY25. Revenue from operations declined significantly to ₹142.62 lakh from ₹4,213.35 lakh in the previous year. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 26, 2026.

The statutory auditors, M A A K & Associates, issued a qualified opinion on the standalone financial results. The audit report highlighted that the company failed to provide balance confirmations and supporting reconciliations for trade receivables, payables, and other financial assets. Additionally, the auditors noted an inability to verify the existence and valuation of inventories amounting to ₹3,969.24 lakh due to a lack of documentary evidence and physical verification reports.

Financial Performance

The company reported a total income of ₹143.42 lakh for FY26, down from ₹4,213.35 lakh in the previous year. Total expenses for the period stood at ₹168.72 lakh. For the quarter ended March 31, 2026, the company reported a net profit of ₹3.36 lakh, compared to a net loss of ₹302.98 lakh in the corresponding quarter of the previous year.

Particulars	FY26 (₹ in lakhs)	FY25 (₹ in lakhs)
Revenue from operations	142.62	4,213.35
Total income	143.42	4,213.35
Total expenses	168.72	4,209.80
Net profit/(loss)	(18.93)	2.45

Compliance and Audit Observations

The auditors flagged several compliance lapses, including the company's failure to file its Income Tax Return and Tax Audit Report for FY25 within prescribed timelines. Outstanding tax demands are appearing on the Income Tax portal, and the auditors were unable to ascertain the potential financial impact. Furthermore, the company did not maintain an edit log facility in its accounting software as required by the Companies (Accounts) Rules, 2014.

The report also noted that the company did not conduct an internal audit during the year despite the applicability of Section 138 of the Companies Act, 2013, resulting in inadequate internal control monitoring mechanisms. The board appointed M/s. Shweta Jain & Co LLP as the internal auditor for FY27 to address these gaps.

Quasar India Limited has notified BSE Limited of a forthcoming Board of Directors meeting, scheduled for Tuesday, May 26, 2026, at 4:00 P.M. The intimation, dated May 14, 2026, was filed pursuant to Regulation 29 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting will be held at the company's corporate office located at 505-D, Titanium City Center, Nr. Sachin Towers, 100 Feet Ring Road, Anandnagar Satellite, Azad Society, Ahmedabad, Gujarat, India – 380 015.

Board Meeting Details

The key details of the scheduled board meeting are outlined below:

Parameter:	Details
Meeting Date:	Tuesday, May 26, 2026
Meeting Time:	4:00 P.M.
Venue:	505-D, Titanium City Center, Nr. Sachin Towers, 100 Feet Ring Road, Anandnagar Satellite, Azad Society, Ahmedabad, Gujarat, India – 380 015
Regulatory Reference:	Regulation 29 of SEBI (LODR) Regulations, 2015
Filing Date:	May 14, 2026
Exchange Notified:	BSE Limited

Agenda for the Meeting

The Board of Directors will convene to deliberate on the following matters:

Audited Financial Results for the quarter and year ended 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

Regulatory Compliance

The intimation was submitted to BSE Limited in accordance with the applicable SEBI listing regulations. The notice was signed by Vijayrao More, Director (DIN: 10298894), on behalf of Quasar India Limited. The company is registered under CIN: L67190DL1979PLC009555 and is headquartered at H-30 Plot No. 6 & 7, Third Floor, Gulshan Park, Vijay Chowk, Laxmi Nagar, New Delhi, Delhi, India – 110 092.