Starsource Multitrade Limited reported a net loss of ₹118.55 crore for the financial year ended March 31, 2026, a significant reversal from the net profit of ₹3.42 crore recorded in the previous year. The company's board approved the audited standalone financial results for the fourth quarter and fiscal year 2026 during a meeting held on May 29, 2026. Total income for the year stood at ₹5.49 crore, down from ₹6.20 crore in FY25, while total expenditure surged to ₹124.04 crore from ₹1.22 crore in the prior year.

Financial Performance

The deterioration in financial performance was primarily driven by a sharp increase in other expenses, which rose to ₹119.38 crore from ₹0.95 crore in the previous year. For the quarter ended March 31, 2026, the company reported a net loss of ₹0.71 crore on a total income of ₹0.01 crore. Basic and diluted earnings per share (EPS) for the year were negative at ₹79.03, compared to a positive EPS of ₹2.28 in FY25.

Auditor's Observations

The statutory auditor, M/s. S S R V & Associates, issued an unmodified opinion on the financial results. However, the report highlighted material discrepancies, noting that only agricultural sales were recorded in the books of accounts, whereas a higher turnover was reported in GST returns. The auditor stated that no reconciliation or explanation for this variance was provided by the management. Additionally, balance confirmations from various parties were not made available for verification, and a loss on fair value change in investments booked under indirect expenses was deemed unsupported by adequate explanations.

Key Financial Metrics

The board also confirmed that the financial statements do not contain any false or misleading statements. The trading window for dealing in the company's shares by designated persons, which had been closed since April 01, 2026, will re-open 48 hours after the announcement of these results.

Starsource Multitrade Limited , formerly known as Chemo Pharma Laboratories Limited, has officially confirmed to the Bombay Stock Exchange that it does not fall under the Large Corporate criteria as on March 31, 2026. This confirmation comes in compliance with specific SEBI operational circulars governing fund raising through debt securities by large entities.

Regulatory Compliance Framework

The company's disclosure was made pursuant to SEBI Operational Circular No. SEBI/HO/DDHS/P/CIR/2021/613 dated August 10, 2021, updated as on April 13, 2022, and SEBI Circular SEBI/HO/DDHS/DDHS-RACPOD1/P/CIR/2023/172 dated October 19, 2023. These circulars specifically address Chapter XII regarding fund raising by issuance of debt securities by large corporates.

Company Disclosure Details

As part of the mandatory initial disclosure requirements, Starsource Multitrade Limited provided comprehensive information in the prescribed format:

Key Financial Position

The company reported nil outstanding borrowings as on March 31, 2026, as per the definition of borrowing specified in the aforementioned SEBI circulars. This zero borrowing position is a significant factor in the company's classification outside the Large Corporate framework.

Regulatory Implications

Under the SEBI framework, companies identified as Large Corporates are subject to specific mandatory borrowing requirements through debt securities. The circular stipulates that beginning from FY 2022, any shortfall in mandatory borrowing through debt securities would attract a fine of 0.20% of the shortfall, levied by Stock Exchanges at the end of the two-year block period.

Corporate Information

The confirmation was signed by Ruchit Mehta, Managing Director and Chief Executive Officer (DIN: 08810586), on behalf of the company. Starsource Multitrade Limited maintains its registered office in Kalyan, Maharashtra, and corporate headquarters in Ahmedabad, Gujarat, continuing its operations under the new corporate identity while maintaining compliance with all regulatory requirements.