Vaxfab Enterprises Limited reported a standalone profit of ₹363.80 lakh for the financial year ended March 31, 2026, while its consolidated results reflected a loss of ₹463.08 lakh for the same period. However, the statutory auditors, Chandabhoy & Jassoobhoy, issued a disclaimer of opinion on both the standalone and consolidated financial results due to significant inadequacies in record-keeping and documentation.

The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026. The audit report highlighted that the company was unable to provide sufficient evidence regarding the completeness and accuracy of balances because certain records pertaining to prior periods were not adequately maintained by the previous management. This included deficiencies in books of account, supporting records, and documentation for sales, purchases, inventory, trade receivables, and trade payables.

Further, the auditors noted that the company had granted and received unsecured loans without formal loan agreements and, in certain cases, without obtaining balance confirmations from the respective parties. The company also failed to maintain requisite records to identify and classify creditors under the Micro, Small and Medium Enterprises Development Act, 2006 (MSMED Act), preventing verification of compliance with disclosure requirements.

Standalone Financial Performance

For the financial year ended March 31, 2026, Vaxfab Enterprises reported total revenue of ₹9959.59 lakh, a significant increase from ₹5937.66 lakh in the previous year. Total expenses for the year stood at ₹9442.12 lakh compared to ₹5867.30 lakh in FY25. The profit before tax for the year was ₹517.47 lakh, up from ₹70.36 lakh in the prior year.

Consolidated Results and Auditor Qualifications

On a consolidated basis, the company reported a total revenue of ₹13675.13 lakh for FY26 against ₹7068.72 lakh in the previous year. However, the consolidated results swung to a loss of ₹463.08 lakh from a profit of ₹48.93 lakh in FY25. The auditors reiterated their disclaimer of opinion for the consolidated results, citing similar issues regarding unsecured loans within the group and the absence of records handed over by the previous management of certain subsidiaries.

The subsidiaries included in the consolidation were Eklingji Tradelink Private Limited and Satvat Agro LLP. The management stated that the qualifications related to the non-accessibility of documents for the time being and asserted that these issues do not have any impact on the financial results.

Vaxfab Enterprises Limited reported a standalone profit of ₹363.80 lakh for the financial year ended March 31, 2026, but the statutory auditor, M/S Chandabhoy & Jassoobhoy, issued a disclaimer of opinion on the annual financial results. The auditor cited the inability to obtain sufficient audit evidence regarding the completeness and accuracy of balances due to inadequate maintenance of books of account and records by the previous management. The company's Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, during a meeting held on May 30, 2026.

The disclaimer of opinion stems from several material issues, including the absence of balance confirmations from debtors and creditors, and the granting and receiving of unsecured loans without formal agreements. Additionally, the company failed to maintain requisite records to identify and classify creditors under the Micro, Small and Medium Enterprises Development Act, 2006. The auditor noted that these inadequacies prevented the verification of compliance with Indian Accounting Standards (Ind AS) and other accounting principles generally accepted in India.

Standalone Financial Performance

For the financial year ended March 31, 2026, Vaxfab Enterprises Limited reported a total revenue of ₹9959.59 lakh, a significant increase from ₹5937.66 lakh in the previous year. Total expenses for the period stood at ₹9442.12 lakh, compared to ₹5867.30 lakh in the prior year. The profit before tax for the year was ₹517.47 lakh, while the profit for the period from continuing operations was ₹363.80 lakh. The basic and diluted earnings per share (EPS) for the year were reported at ₹4.33.

Consolidated Results and Auditor's Report

The consolidated financial results for the group, which includes subsidiaries Eklingji Tradelink Private Limited and Satvat Agro LLP, reflected a loss of ₹463.08 lakh for the year ended March 31, 2026, compared to a profit of ₹48.93 lakh in the previous year. Total consolidated revenue for the year was ₹13675.13 lakh, with total expenses amounting to ₹13986.76 lakh. The auditor also issued a disclaimer of opinion on the consolidated results, citing similar issues regarding unsecured loans without interest charges and the inability to verify the accuracy of balances within the group entities.

The auditor's report highlighted that the group had granted and received unsecured loans without formal loan agreements and, in certain cases, without obtaining balance confirmations. Furthermore, no interest was charged or provided on such loans. The consolidated balance sheet as of March 31, 2026, showed total assets of ₹20378.29 lakh and total equity and liabilities of ₹20378.29 lakh, with current liabilities constituting a significant portion of the structure.