Auditor's Limited Review Flags Unreconciled Receivables, Payables, Loans and Borrowings
Board meeting held on 3 November 2026: unaudited results for the quarter and half year ended 30 September 2026 were reviewed by the statutory auditor.
By ScoutQuest · · 2 min read
- Board Meeting Date
- 3 November 2026
- Period Covered
- quarter and half year ended 30 September 2026
- Auditor Emphasis of Matter
- trade receivables, trade payables, loans and advances and borrowings subject to confirmation and reconciliation; conclusion not modified
What the board meeting covered
- The Board of Directors met on Tuesday, 3 November 2026 and the outcome covers the unaudited financial results for the quarter and half year ended 30 September 2026.
- The statutory auditor, Kapil Kumar Agarwal & Associates, Chartered Accountants, issued an Independent Auditor's Review Report on those results under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
- The review was carried out under the Standard on Review Engagement (SRE) 2410. A review involves enquiries and analytical procedures and gives moderate assurance; it is substantially smaller in scope than an audit and is not an audit opinion.
What the Emphasis of Matter says
- Balances of trade receivables, trade payables, loans and advances (including deposits given or received) and borrowings as at the balance sheet date are subject to confirmation and reconciliation.
- Direct confirmations from the respective parties — customers, vendors and loan counterparties — have not been received, and the balances have therefore not been reconciled with the company's books of account.
- Sales and purchases for the period were confirmed on the basis of data and information provided by the management.
- Consequently, the adjustments, if any, that may be required once confirmations are received and reconciliation is completed, and their impact on the financial statements, are not ascertainable.
What the auditor concluded
- The conclusion is not modified in respect of this matter.
- Based on the review, nothing came to the auditor's attention that causes them to believe the statement of unaudited financial results is not prepared in line with Ind AS 34 and the Companies Act, 2013, read with relevant rules and accounting principles generally accepted in India, or that it contains any material misstatement, or fails to disclose information required under the Listing Regulations in the manner required.
The report is signed by Rajeev Sharma, Partner, on behalf of the audit firm.
How to read this
An Emphasis of Matter is a flag, not a qualification. Here the auditor is drawing attention to the fact that several balance-sheet items — what the company is owed, what it owes, its loans and advances, and its borrowings — rest on figures that have not yet been independently confirmed by the other parties. The auditor has kept the overall conclusion unchanged, but has stated plainly that any correction arising from confirmation and reconciliation cannot currently be worked out. For a reader of the results, that is the specific point to keep in view when looking at these balances.
Also from Consecutive Commodities
Standalone results for the quarter ended September 30, 2026
3 Nov 2026
Board meeting on 3 November 2026 to consider September-quarter results
29 Oct 2026
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