Toh bhai, Invigorated Business Consulting Limited, jisko pehle Escorts Finance ke naam se jaante the, unka December 2025 ko khatam hone wale quarter (Q3 FY26) ka haal bada hi kharab hai. Company ne declare kiya hai ki operational revenue NIL rahi hai. Ji haan, ZERO! Business mein kuch ho hi nahi raha. Thoda bahut jo paisa aaya woh ₹5.04 Lakhs ka 'other income' tha, jo pichhle saal ke ₹5.94 Lakhs se bhi kam hai. Expenses ko kam karke ₹20.86 Lakhs tak le aaye (jo pichhle saal ₹23.16 Lakhs the), lekin phir bhi ₹21.21 Lakhs ka net loss ho gaya. Pichhle saal ke ₹22.82 Lakhs se thoda kam hai, par operational issue toh wahi ka wahi hai.
Aur agar pura 9 mahine (9MFY26) ka dekho toh haal aur bhi bura hai. Total income gir kar sirf ₹15.37 Lakhs ho gayi hai (jo pichhle saal ₹29.30 Lakhs thi). Aur net loss toh ₹69.15 Lakhs pahunch gaya, jo pichhle saal ke ₹54.76 Lakhs se kaafi zyada hai. Iss wajah se EPS bhi negative mein hai: Q3 FY26 mein ₹(0.0134) aur 9MFY26 mein ₹(0.0447).
Ab sabse bada sawaal: Auditors kya keh rahe hain? M/s. G A R & Company naam ke auditors ne apna audit opinion dene se saaf mana kar diya hai. Unko financial statement disclosures ko lekar badi chintaayein hain. Aur suno, management khud maan rahi hai ki accounts ko 'Going Concern Basis' par banaya gaya hai, lekin uss basis par bhi kaafi shak hai. Matlab, company chal paayegi ya nahi, ispe bade sawaal hain. Company ki net worth toh poori ki poori khaak ho chuki hai. Other Equity negative ₹21,949.57 Lakhs hai, jabki paid-up share capital sirf ₹4,017.25 Lakhs hai.
Ab company kar kya rahi hai? Wo apni purani NBFC operations ke baad reh gaye delinquent loan assets ko recover karne ki koshish kar rahi hai. Sirf issi se ₹699.70 Lakhs doubtful advances aur ₹253.82 Lakhs doubtful advances (other categories) dikha rahe hain. Koi future financial guidance nahi di hai.
So, aage ka outlook toh bada hi andhera dikh raha hai. Company ke paas abhi consultancy/advisory business se koi operating revenue nahi hai, sab kuch purani loans ki recovery par depend karta hai, jiska outcome uncertain hai. Auditors ka opinion na dena aur 'going concern' par doubt uthana sabse badi red flags hain. Iska matlab hai ki company financial trouble mein phans sakti hai. Main toh kehunga, is company ko dekh kar bahut zyada caution barto. Koi core business nahi, negative net worth, aur audit ki serious concerns - sab kuch risk mein lag raha hai.