Aurique achieved a significant financial turnaround in the quarter ended June 2026, reporting a net profit of ₹5.64 lakh compared to a net loss of ₹21.51 lakh in the corresponding quarter of the previous financial year. According to the latest financial results, this represents a complete reversal of the company's financial position during the same period last year, with revenue from operations at ₹104.50 lakh compared to nil revenue in Q1FY26.
The company's financial results have been accompanied by a disclaimer of opinion from statutory auditor J.M. Patel & Bros, Chartered Accountants, citing several material concerns that restricted their ability to verify the financial results. The auditor highlighted the absence of external confirmations and bank trails for debtors and creditors, with no independent confirmations provided for Sundry Debtors due from Plenta Foods LLP or Sundry Creditors due to Alphentine Foods Private Limited. Additionally, out of 10 bank accounts reflected in the books, statements and confirmations were not provided for 8 accounts, preventing verification of bank balances. The auditor also expressed inability to verify the correctness of opening equity balances due to a quasi-equity write-off of ₹5,38,84,446 against accumulated losses.
The Board of Directors approved the unaudited standalone financial results for Q1FY27 at a meeting held on July 15, 2026, alongside approving the change in category of Mr. Nimeshkumar Ganpatbhai Patel from 'Promoter' to 'Professional Director', effective July 15, 2026. The company's equity share capital increased to ₹130 lakh following a bonus issue. However, significant concerns were raised regarding the legality of dividend payouts, with the auditor noting that the company transferred ₹2,00,000 to an Unpaid Dividend Account on June 1, 2026, and initiated payouts from June 9, 2026, despite the main bank account having a closing balance of only ₹15,811.73 as of April 1, 2026, and no cash realization from operations during the quarter.
The company's operating profit margin (OPM) stood at 5.71% during the quarter ended June 2026, indicating improved operational efficiency compared to the previous year. The latest financial data shows total revenue of ₹104.50 lakh compared to ₹253.64 lakh in the preceding quarter, while total expenses were ₹98.86 lakh versus ₹175.14 lakh in the previous quarter. The company's earnings per share (basic) improved to ₹0.43 from ₹7.85 in the preceding quarter, reflecting the overall financial turnaround. Despite the positive profitability, the auditor's concerns about unconfirmed trade balances and low cash balances raise questions about the company's ability to maintain future operations and dividend commitments.
