Zenith Steel Share: Revenue **36%** Daba, Auditors Bole "Company Chalega Kaise?", **₹758 Lakhs** Ka Fraud Bhi Exposed!

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AuthorAnanya Iyer|Published at:
Zenith Steel Share: Revenue **36%** Daba, Auditors Bole "Company Chalega Kaise?", **₹758 Lakhs** Ka Fraud Bhi Exposed!
Overview

Zenith Steel Pipes & Industries ke liye badi khabar aa rahi hai, aur ye khushkhabri nahi hai! Auditors ne company ke liye 'Going Concern' par serious doubts uthaye hain, matlab company chal payegi ya nahi, ye pakka nahi hai. Aur toh aur, **₹758 Lakhs** ka ek bada fraud bhi samne aaya hai, jisme paiso ki gadbad hui hai.

🚨 Zenith Steel: Kya Company Bandh Ho Jayegi? Auditors Ne Uthaye Bade Sawal!

Bhai log, Zenith Steel Pipes & Industries ki kahani kuch theek nahi chal rahi. Inke auditors ne Q3 FY26 ke results par report mein aise-aise points uthaye hain ki sunkar chakkar aa jaye.

Sabse badi baat, auditors ko lagta hi nahi ki company aage chal payegi. Isko 'Going Concern Uncertainty' bolte hain, matlab future mein company run karne par hi doubt hai! Iske saath hi, company Companies Act 2013 ki sections 74 aur doosri rules ki compliance mein bhi fail hui hai, jisme public deposits time par wapas nahi kiye, liquid assets manage nahi kiye, aur Company Law Board ke orders ko follow nahi kiya.

Aur toh aur, accounts ko check karne mein bhi dikkaten aayi hain. Trade payables, receivables, loans, advances, aur borrowings jaise badi cheezon ko verify karne mein auditors ko mushkil hui kyunki reconciliations nahi the aur balance confirmations bhi nahi mili. Inventory valuation par bhi sawaal uthaye gaye hain kyuki proper information nahi thi.

📉 Revenue Gira, Profit Kaise Aaya?

Ab numbers dekho. Q3 FY26 mein company ka standalone revenue seedha 36.3% gir gaya, pichle saal ₹1,376.23 Lakhs se ab ₹876.63 Lakhs ho gaya. Consolidated revenue bhi 32.9% down raha, ₹940.33 Lakhs par aa gaya. Aur 9 mahine (9MFY26) ka haal toh aur bhi bura hai, standalone revenue 56.0% gir kar ₹4,144.73 Lakhs ho gaya.

Par ek ajib baat hai, company ne profit dikhaya hai! Standalone PAT Q3 mein ₹122.11 Lakhs ka raha, jo pichle saal ₹56.60 Lakhs tha. 9 mahino mein bhi loss (₹255.57 Lakhs) se profit (₹274.36 Lakhs) mein aa gaye. Consolidated PAT bhi ₹146.88 Lakhs (Q3) aur ₹299.11 Lakhs (9MFY26) raha. Lekin ye profit sirf 'Other Income' ki wajah se hai, jisme provisions ka ₹499.41 Lakhs (Q3) aur ₹1754.42 Lakhs (9MFY26) reversal aur forex gains shamil hain. Ye sab one-off aur non-operational cheezein hain, core business se nahi aayi hain.

🚩 Sabse Shocking: Fraud Aur Badhti Musibatein!

Aur sabse shocking baat, ek fraud bhi pakda gaya hai jisme ₹758 Lakhs ki misappropriate hui hain. Pata chala hai ki unauthorized access hua tha. Iske liye FIR ho chuki hai aur investigation chal rahi hai. Abhi iska final impact pata nahi.

Iske alawa, company par ₹15,894.92 Lakhs ka bank loan ka bojh hai aur MoU sign kiya hai usko take over karne ka. SARFAESI proceedings bhi chal rahi hain. SEBI ka ek case Supreme Court mein chal raha hai GDR issues ko lekar. Company ka net worth bhi negative hai aur GST ke bhi bade demands aaye hue hain.

Management to bol rahi hai ki revival plans se sab theek ho jayega, par auditors ki report aur ye sab issues dekh kar lagta hai ki company ke liye aage ki raah bahut mushkil hai. Investors ko is stock mein bahut soch samajh kar invest karna chahiye kyuki risk bahut high hai.

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