Silverline Technologies Limited has resubmitted its financial results for the quarter and half year ended September 30, 2025, following regulatory queries from BSE regarding discrepancies between XBRL and PDF filings. The company's Managing Director and CFO Yakinkumar Bansilal Joshi responded to the exchange's concerns about mismatched data in earnings per share calculations and cash flow statements.

Regulatory Compliance Issues

BSE identified two primary discrepancies in the original submission. The exchange flagged incorrect figures for earnings per share related to discontinued operations in the XBRL filing and noted mismatches between reporting data in XBRL files compared to PDF submissions for the quarter ended September 2025. The company acknowledged these issues stemmed from clerical and typographical errors in both formats.

Financial Performance Highlights

The corrected financial results reveal strong operational performance for the reporting period. Revenue from operations reached ₹10,007.38 lakhs in Q2FY26, compared to ₹69.70 lakhs in the corresponding quarter of the previous year. For the half year ended September 30, 2025, total income stood at ₹20,016.06 lakhs against ₹145.37 lakhs in the previous year.

Audit Qualifications and Concerns

The statutory auditor S Parth & Co issued a qualified opinion on the financial results, highlighting several significant concerns. The audit report identifies five major areas requiring attention, including inadequate supporting documentation for sales and purchase transactions, absence of a fixed assets register, and unconfirmed trade receivables and payables.

Key audit qualifications include:

• Lack of satisfactory supporting documents for completeness of transactions pertaining to sales, purchases, and inventory valuation
• Missing fixed assets register affecting verification of depreciation and deferred tax calculations
• Unsecured loans without proper agreements or interest charges
• Unconfirmed trade payables without MSME classification compliance
• Trade receivables outstanding without debtor confirmations

Balance Sheet Position

The company's balance sheet as of September 30, 2025, shows total assets of ₹24,520.40 lakhs compared to ₹16,256.27 lakhs as of March 31, 2025. Trade receivables increased significantly to ₹10,888.35 lakhs from ₹3,842.11 lakhs, while trade payables rose to ₹5,434.33 lakhs from ₹260.06 lakhs.

Management Response

Management has acknowledged the auditor's observations and committed to improving internal control systems, documentation processes, and statutory compliances. The company stated that corrective actions including obtaining confirmations, preparing a fixed assets register, formalizing loan agreements, and strengthening financial record-keeping have been initiated and will be completed in a time-bound manner.

Silverline Technologies Limited has announced the resignation of its Chief Executive Officer, Mr. Srinivasan Sitapati Pattamadai, effective from the close of business hours on December 12, 2025. The company informed BSE Limited of this development in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

The key details of the CEO resignation are outlined below:

Official Communication

The resignation was formally communicated through a letter dated December 12, 2025, addressed to the Board of Directors. In his resignation letter, Mr. Pattamadai requested immediate relief from his duties and asked the company to arrange for submission of necessary forms with the Registrar of Companies.

Mr. Pattamadai confirmed that there are no other material reasons for his resignation beyond those mentioned in his letter. This disclosure aligns with the requirements under SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.

Board Response

The Board of Directors of Silverline Technologies Limited has formally noted the resignation and placed on record its sincere appreciation for Mr. Pattamadai's contribution during his tenure as Chief Executive Officer.

Company Information

Silverline Technologies Limited is incorporated under CIN: L46209MH1992PLC066360 and trades on BSE with scrip code 500389 under the symbol SILVERLINE. The company's registered office is located at Unit No. 509, 5th Floor, Centrum IT Park, Near Satkal Hotel, Wagle Industrial Estate, Thane West 400604.

The resignation notification was signed by Yakinkumar Bansilal Joshi, Managing Director & CFO (DIN: 10745009), ensuring compliance with regulatory disclosure requirements.