Starlite Components Limited reported a net loss of ₹7.09 lakh for the financial year ended March 31, 2026, widening from a loss of ₹5.59 lakh in the previous year, as revenue from operations declined significantly. The company's statutory auditors, Sharp Aarth & Co. LLP, issued a qualified opinion on the standalone financial results, highlighting material uncertainties regarding the implementation of the approved resolution plan and the company's ability to continue as a going concern. The trading of the company's securities remains temporarily suspended by the Bombay Stock Exchange (BSE).

The Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 28, 2026. The audit report draws attention to the fact that the implementation of the full resolution plan is pending, primarily due to a regulatory amendment introduced by SEBI in June 2021. This amendment mandates that public shareholding in companies undergoing the Corporate Insolvency Resolution Process (CIRP) must not fall below 5% following the implementation of a resolution plan. As the requirement came into effect after the National Company Law Tribunal (NCLT) approved the resolution plan on March 14, 2024, the company did not meet the threshold, leading the BSE to withhold permission to trade its securities.

To address this compliance issue, Starlite Components has filed an Interlocutory Application before the NCLT, Mumbai Bench, seeking necessary modifications to the approved resolution plan. The application aims to ensure compliance with the minimum public shareholding requirement and allow for the listing and trading of shares. The extinguishment of existing share capital and the issuance of new share capital have not been completed pending the outcome of this application. The auditors noted that the outcome of the NCLT proceedings cannot be presently ascertained, casting significant doubt on the company's ability to continue as a going concern if the plan is not implemented.

Financial Performance for FY26

The company's financial performance for the year reflected the ongoing operational challenges. Revenue from operations stood at ₹186.32 lakh for FY26, a sharp decrease from ₹475.43 lakh in the previous year. Total income for the year was ₹187.74 lakh, down from ₹476.77 lakh in FY25. Total expenses for the year amounted to ₹201.83 lakh, compared to ₹481.76 lakh in the prior year. The company reported a basic and diluted loss per share of ₹0.04 for FY26, compared to a loss per share of ₹0.03 in the previous year.

Audit Qualifications and Key Disclosures

The auditors also drew attention to the company's accounting treatment of financial debt, which has been recorded at cost rather than fair value in accordance with the terms of the approved resolution plan. This treatment overrides Indian Accounting Standards, which would require the recognition of the debt at fair value and the imputation of interest costs. Additionally, the report notes that the company has initiated commercial arbitration proceedings against the Ambarnath Municipal Corporation (AMC) for the recovery of substantial outstanding contractual dues. The LED & maintenance contract with AMC was completed on December 31, 2025, and the company opted out of the contract on the behest of the sole arbitrator, though the dues remain pending.

The balance sheet as of March 31, 2026, shows total assets of ₹196.99 lakh, a decrease from ₹263.25 lakh in the previous year. The company's equity stood at a negative ₹51.32 lakh, compared to a negative ₹44.23 lakh in FY25. Non-current liabilities were recorded at ₹160.00 lakh, while current liabilities decreased to ₹88.30 lakh from ₹146.89 lakh in the prior year.

Starlite Components Limited has filed its quarterly compliance certificate under SEBI (Depositories and Participants) Regulations, 2018 for the quarter and year ended March 31, 2026. The certificate confirms the company's adherence to regulatory requirements for dematerialisation processes and shareholder record maintenance.

Regulatory Compliance Filing

The company submitted the compliance certificate to BSE Limited on April 14, 2026, as required under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate was signed by Prabhu Shankarappa Biradar, Director with DIN 08871166, on behalf of Starlite Components Limited.

RTA Confirmation Certificate

MUFG Intime India Private Limited (formerly Link Intime India Private Limited), serving as the company's Registrar and Share Transfer Agent, issued the confirmation certificate dated April 1, 2026. The certificate was signed by Ashok Shetty, Senior Vice President-Corporate Registry.

The RTA confirmed several key compliance aspects:

• Securities received from depository participants for dematerialisation during Q4FY26 were properly confirmed to depositories
• All securities comprised in certificates have been listed on stock exchanges where earlier issued securities are listed
• Security certificates received for dematerialisation were confirmed or rejected within prescribed timelines
• Received certificates were mutilated and cancelled after due verification by depository participants
• Depository names were substituted in the register of members as registered owners within prescribed timelines

Company Information

Starlite Components Limited operates under the tagline "Light Re-engineered" and is incorporated with CIN L31200MH1991PLC063980. The company's registered office is located at F-108, MIDC Area, Satpur, Nasik - 422007, Maharashtra.

This compliance filing demonstrates Starlite Components Limited's commitment to maintaining proper regulatory standards and ensuring transparent shareholder record management in accordance with SEBI guidelines.