AMS Polymers Ltd — Updates, 28-05-2025: Company Update

AMS Polymers Limited has announced a board meeting to approve the financial results for the quarter and half-year ended March 31, 2025. The Board approved the audited standalone financial results and the auditor’s report. Notably, the auditor expressed an adverse opinion due to significant issues: lack of a proper Fixed Asset Register, absence of physical verification and valuation of inventory, missing ageing schedules and confirmations for trade receivables/payables, no provision for gratuity liabilities, and non-compliance with related party transaction regulations. These issues raise concerns about asset existence, valuation accuracy, and governance transparency. The company appointed Kundan Agarwal & Associates as Secretarial Auditor for five years and A Saini & Associates as Internal Auditor for FY2025-26.