Sab Events & Governance Now Media Limited Approves Standalone Financial Results for FY2026 Amid Qualified Audit Opinion
Sab Events & Governance Now Media Limited announced on May 29, 2026, that its Board of Directors approved the Audited Financial Results and Statements for the quarter and full financial year ended March 31, 2026, following a board meeting held on the same day. The company also released its Standalone Audited financial results, cash flow statement, and balance sheet for the period.Audited Financial Performance for FY2026
The company's financial statements for the quarter and year ended March 31, 2026, detail the following revenue and expenditure figures:| Particulars | For Quarter Ended 31-Mar-26 (Audited) | For Year Ended 31-Mar-26 (Audited) |
|---|---|---|
| Revenue from Operations | 59.29 | 243.12 |
| Other Income | 0.39 | 0.43 |
| Total Income | 59.68 | 243.55 |
| Total Expenditure | 76.75 | 285.81 |
| Profit/(Loss) before Tax | (17.07) | (42.26) |
The Balance Sheet data shows the company's total assets and liabilities as of March 31, 2026:
| Particulars | As at 31.03.2026 (Audited) | As at 31.03.2025 (Audited) |
|---|---|---|
| Total Assets | 87.40 | 124.33 |
| Total Current Assets | 87.08 | 57.32 |
| Total Non-Current Assets | 0.32 | 67.01 |
| Total Equity | (241.33) | (199.27) |
| Total Current Liabilities | 328.73 | 288.36 |
| Total Non-Current Liabilities | N/A | N/A |
The cash flow statement highlights that the net cash generated from operating activities for the year ended March 31, 2026, was Rs. 4.45 Lakhs, compared to (Rs. 26.76 Lakhs) in the previous year.
Basis for Qualified Audit Opinion
P. Parikh & Associates Chartered Accountants issued a Qualified Opinion on the standalone financial results for the quarter and year to date, following an audit conducted pursuant to the Listing Regulations.The basis for the qualified opinion relates to the Pre-Packaged Insolvency Resolution Process (PPIRP) initiated under the Insolvency and Bankruptcy Code, 2016. The audit noted that a claim was received from the unsecured lender amounting to Rs. 453.47 Lakhs outstanding as on December 17, 2025. However, the company's books contained a balance of Rs. 199.71 Lakhs as on March 31, 2026. The difference of Rs. 253.76 Lakhs, representing accrued interest pertaining to the current and previous financial years, was not accounted for by the company as of March 31, 2026.
Because the bifurcation of the exact amount of interest pertaining to the current financial year 2025-26 and earlier years was not maintained, the auditors stated that the finance cost, other equity, and current liabilities are understated by Rs. 253.76 Lakhs as on March 31, 2026.
Material Concerns
The auditors drew attention to material uncertainties regarding the company's ability to continue as a going concern. The report highlighted that the current liabilities are substantially higher than the current assets. Furthermore, the company is unable to service its debt obligations, and a negative Total Equity of Rs. 241.33 Lakhs was recorded as of March 31, 2026, amidst the initiation of PPIRP proceedings.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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