Procal Electronics India Ltd — Results, 01-07-2025: Result

Procal Electronics India Limited has announced a board meeting on the approval of audited financial results for the quarter and year ended March 31, 2025. The company posted a net loss of ₹5.45 lakh for the year. There were no revenues or operational activities, with its manufacturing unit and assets at Silvassa under the control of Canara Bank due to loan defaults. The bank has conducted e-auctions for the company’s mortgaged properties, recovering ₹49.06 lakh, though these transactions are not yet reflected in the financials. Auditor PAMS & Associates issued an adverse opinion citing complete erosion of net worth, ongoing operational losses, inability to verify inventory and PPE due to possession by the bank, and inoperative bank accounts pending KYC. Legal disputes with lenders remain unresolved, casting significant doubt on the company’s ability to continue as a going concern. Internal financial controls were found inadequate and ineffective, with material weaknesses noted in inventory and asset verification. Loans from directors are overdue without proper regulatory filings, and statutory dues remain unpaid. The company has not carried out any manufacturing or trading activities for several years, raising serious concerns about its future prospects.