Riwind Green Energy reports net loss of ₹68.45 lakh in FY26
Riwind Green Energy Limited reported a net loss of ₹68.45 lakh for FY26, with total income dropping to ₹11.46 lakh. Auditors issued a qualified opinion due to unconfirmed balances and significant going concern risks.
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Riwind Green Energy Limited reported a widened net loss of ₹68.45 lakh for the financial year ended March 31, 2026, as total income declined to ₹11.46 lakh from ₹20.31 lakh in the previous year. The company’s accumulated losses have reached ₹2,440.13 lakh, resulting in the complete erosion of its net worth and casting material uncertainty on its ability to continue as a going concern. The Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, on June 18, 2026.
Statutory auditors S.K. Mehta & Co. issued a qualified opinion on the financial results, citing the inability to obtain confirmations for unsecured borrowings amounting to ₹255.28 lakh and loans and advances of ₹132.34 lakh. The auditors noted that the terms and conditions for unsecured loans of ₹122.00 lakh and given advances of ₹132.34 lakh were not made available, preventing them from commenting on the authenticity of these balances. Additionally, the auditors highlighted that the company has been incurring negative operating cash flows for several years, leading to significant working capital constraints.
Financial Performance
The company’s financial performance for the year reflects a contraction in operations. Revenue from operations was nil for both FY26 and FY25, while other income decreased to ₹11.46 lakh in FY26 from ₹20.31 lakh in the previous year. Total expenses rose to ₹79.91 lakh in FY26 from ₹45.53 lakh in FY25, driven primarily by finance costs of ₹34.21 lakh and employee benefit expenses of ₹16.42 lakh. The loss per share for the year widened to ₹0.60 from ₹0.22 in the previous year.
| Particulars | Year Ended March 31, 2026 (Audited) | Year Ended March 31, 2025 (Audited) |
|---|---|---|
| Total Income | 11.46 | 20.31 |
| Total Expenses | 79.91 | 45.53 |
| Profit/(Loss) before tax | (68.45) | (25.22) |
| Net Profit/(Loss) for the year | (68.45) | (25.22) |
| Paid-up Equity Share Capital (₹ in lakhs) | 1,134.38 | 1,132.30 |
Auditor’s Observations and Compliance
The auditors drew attention to an emphasis of matter regarding the transfer of calls in arrears amounting to ₹2.08 lakh to other financial assets, which increased the paid-up equity share capital as of March 31, 2026. The company noted that relevant details for this amount were not available. Furthermore, shareholders approved an increase in authorised share capital from ₹30.00 crore to ₹2500.00 crore on December 25, 2025, but statutory formalities are pending due to the non-deposit of the requisite fee. The financial statements have been prepared on a going concern basis based on management’s expectation that adequate financial support will be available.
Historical Stock Returns for CMX Holdings
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +9.96% | +36.63% | +2.03% | -51.69% | +223.52% | +103.14% |
What specific funding sources or strategic investors is the management targeting to secure the necessary financial support and resolve the going concern uncertainty?
How does the company plan to address the statutory auditor's qualified opinion regarding the unverified unsecured borrowings and advances?
What is the timeline for completing the pending statutory formalities related to the massive increase in authorised share capital?
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