AVG Logistics Limited Reports Delay in Financial Results Submission Due to Pending Audit Procedures

AVG Logistics Limited Reports Delay in Financial Results Submission Due to Pending Audit Procedures​

AVG Logistics Limited has announced a delay in the submission of its financial results, citing ongoing finalization processes related to its financial statements. The company stated that the Board of Directors meeting scheduled for considering and approving these results had to be deferred as various necessary procedures are still underway.

The delay is attributed to the fact that certain audit procedures, management reviews, and reconciliation of financial information are yet to be completed to the satisfaction of the Statutory Auditors and the management team.

AVG Logistics Limited emphasized that it finds it prudent to complete all verification and audit processes before presenting the financial results to the Board of Directors for approval. This process is intended to ensure the accuracy, completeness, and reliability of the financial statements while maintaining compliance with applicable accounting standards. The company assured stakeholders that the delay is solely due to these stated reasons and is neither intentional nor an attempt to withhold any material information.

The company confirmed it is actively working towards concluding the remaining processes shortly. Upon completion of these steps, a Board meeting will be convened at the earliest possible time to consider and approve the financial statements. The final results will then be submitted as required. AVG Logistics Limited affirmed its commitment to maintaining transparency in regulatory compliance throughout this reporting period.

AVG Stock Price Movement​

AVG Logistics Limited shares closed higher today, gaining 0.58% to settle at ₹180.9 after closing the trading session. The equity saw robust activity in the post-market trade, recording a total volume of 93,035 shares.