Geetanjali Credit & Capital Ltd Approves Q ended June 30, 2026 Results; Auditor Notes Issues Regarding Loans and Tax Liabilities
Geetanjali Credit and Capital Limited has announced the approval of its unaudited financial results for the quarter ending June 30, 2026, alongside the corresponding Limited Review Report. The Board of Directors transacted this outcome during a meeting held on July 24, 2026.The company's performance metrics across various financial segments were reviewed in the unaudited results released for the quarter ending June 30, 2026. The financial statements include comprehensive data covering revenue, expenses, and overall profit/loss calculations as of that period.
Financial Highlights Summary
The following table provides a summary of key financial metrics from the Statement of Unaudited Financial Results for the Quarter ended June 30, 2026, compared against Audited figures for the preceding periods.| Particulars | Quarter Ended June 30, 2026 (Unaudited) | Preceding Quarter (Unaudited) | Total Income (Audited - Mar 31, 2026) |
|---|---|---|---|
| Revenue from Operations | 221,000 | 900,000 | N/A |
| Total Income (Net) | 21,000 | 3,000 | 9,000 |
| Employee Benefits Expenses | 53,000 | 210,000 | N/A |
| Legal & Professional Fees | 0 | 268,000 | N/A |
| Total Expenses | 536,000 | 750,000 | N/A |
| Profit before Exceptional Items | 1485,000 | 150,000 | N/A |
| Total Comprehensive Income | 14.85 Million | 1.50 Million | 1.50 Million |
Auditor's Review Observations
S K Bhavsar & Co., the Chartered Accountants, provided a review report on the interim financial information. The firm highlighted several key areas concerning risk and compliance within the company’s operations as of June 30, 2026.The auditor noted that the company, an NBFC, had provided Loans and Advances amounting to Rs. 275.67 Lakhs since a long duration. Due to the lack of balance confirmation received from these parties, the auditor was unable to form an opinion on the recoverability of these loans. Furthermore, the review found that Management had recorded interest income on said Loans and Advances, which does not adhere to the NPA norms issued by the Reserve Bank of India (RBI). The company has also reportedly failed to follow NPA norms for provision on these specific Loans and Advances.
Additionally, S K Bhavsar & Co. pointed out an outstanding demand of Rs. 529.75 Lakhs towards the income tax department. Efforts to communicate with management regarding this charge were made, but the company did not provide documentary evidence confirming in which forum proceedings are pending, making it difficult to verify the duration and quantum of the payable amount.
Regarding investments as at June 30, 2026, the auditor was unable to obtain sufficient and appropriate evidence to verify the correctness and existence of these investments, stating that detailed records and physical verification statements were not presented. Consequently, the financial results relied upon management's representations in this matter.
Stock Price Movement
Geetanjali Credit and Capital Ltd settled at ₹7.73 on Monday, recording a solid gain of 4.88% for its shares. The stock was completely flat throughout the trading session, with the intraday high and low both resting at ₹7.73.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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