Procal Electronics India Ltd — Important, 30-06-2026: Company Update

Procal Electronics India submitted a revised statement on audit qualifications for its financial results. The company initially provided incorrect figures based on quarterly data due to a clerical error and has now submitted corrected yearly figures. The auditors have issued an adverse opinion, citing significant issues including eroded net worth, continuous losses, no business operations, and material uncertainty regarding the company's ability to continue as a going concern. Auditors were unable to verify key transactions like the sale of assets by Canara Bank for approximately 0.49 Cr, inventory valuation, property accounting, and various balance adjustments due to insufficient documentation.