📉 Q3 FY26 Ke Numbers Kaise Hain?
Ravi Kumar Distilleries ne December 31, 2025 ko khatam hui Q3 FY26 aur nau mahine ke liye apne results announce kiye hain, aur bhai, numbers bilkul bhi acche nahi lag rahe. Q3 mein, revenue from operations 21.56% neeche gir kar ₹1,508.16 Lakhs par aa gaya, jo pichhle saal ₹1,922.72 Lakhs tha. Profit After Tax (PAT) bhi 22.58% kam hokar sirf ₹1.92 Lakhs reh gaya, jabki pichhle saal ye ₹2.49 Lakhs tha. Agley nau mahine ki baat karein toh revenue 25.00% gir kar ₹4,069.37 Lakhs hua aur PAT 17.33% neeche ₹8.73 Lakhs par aa gaya. Earnings Per Share (EPS) toh bas ₹0.01 aur ₹0.04 par hi atka hua hai.
Auditors Ke 'Red Flags' Aur Roti Dhoti Kahaani
Lekin asli masla toh auditors ke report mein chhupa hai. Ramanand & Associates ne kuch bade 'red flags' uthaye hain, jinse company ke financials par sawaal uth rahe hain. Sabse bada concern hai ₹2,900.25 Lakhs ke 'Amounts recoverable under Dispute'. SEBI ne bola hai ki ye paisa wapas karo, lekin auditors khud bol rahe hain ki unko pata nahi ye recover ho payenge ya nahi, aur inki reliability par woh koi comment nahi kar sakte.
Iske alawa, company kai legal ladoon mein fansi hui hai. 'Investment in Liquor India Limited' aur 'Lemonade Shares & Securities Private Limited' ke saath NCLT, NCLAT, civil suits, Supreme Court appeals aur police charge sheet tak chal rahi hai. In sabka company ke financials par kya asar padega, ye bhi clear nahi hai.
Auditors ne Sundry Debtors aur Creditors ke liye bhi confirmation nahi milne ki baat kahi hai. Aur kya pata, Expected Credit Loss (ECL) ka ₹389.49 Lakhs ka allowance bhi nahi diya gaya, jabki credit risk badh raha tha. Interest on pending statutory dues ka ₹282.48 Lakhs ka provision bhi absent hai. Iska matlab hai ki financial impact pata nahi lagaya ja sakta.
Aur ek cheez, company ne ek purana sundry creditors balance ₹248.08 Lakhs ko 'Other Income' mein daal diya. Iss se 'Other Income' toh badh gaya, lekin auditors ka kehna hai ki disputed amount ki recoverability par koi assurance nahi hai.
Investors Ke Liye Kya Hai Matlab?
Seedhi baat ye hai, auditors ke statements company ki transparency aur assets ki value par doubt create kar rahe hain. Itne bade disputed amount ko recover karne mein mushkil ho sakti hai, jisse company ki net worth par seedha asar padega. Current legal ladaiyan company ke liye bahut risky environment bana rahi hain. Receivables confirm na hona aur ECL allowance na dena, ye sab cheezein risk ko aur badha rahi hain. Investors ko yahan bahut zyada caution baratni chahiye, kyunki jo profit dikh raha hai, woh shayad asal financial health ko represent na karta ho. Company ka future inhi disputes aur regulatory actions ke resolution par depend karta hai.