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Cerebra Integrated's board has announced a meeting where it approved the financial results for the first quarter. The company reported quarterly revenue of Rs 1.79 crore and a net loss of Rs 14.10 crore. Auditors expressed a disclaimer, raising significant concerns about the company's ability to continue operations due to ongoing losses, reduced activity, and challenges in meeting obligations. They also highlighted issues with inventory valuation (Rs 9.55 crore ad-hoc devaluation) and over Rs 195 crore in unprovided or unconfirmed receivables and advances. Furthermore, the company has defaulted on Rs 23 crore in bank loans. The board also approved the appointment of a Secretarial Auditor and put forth the re-appointment of Statutory Auditors for shareholder approval.
All announcements from Cerebra Integrated Technologies Limited