Starbeam Ventures Ltd Reports FY2026 Results; Statutory Auditors Issue Qualified Opinion

<h1>Starbeam Ventures Ltd Reports FY2026 Results; Statutory Auditors Issue Qualified Opinion</h1>

Starbeam Ventures Limited, formerly known as Bluegod Entertainment Limited, has released its Audited Standalone Financial Results for the quarter and year ended March 31, 2026. The results reflect both profitability figures and are accompanied by a qualified opinion from the company's Statutory Auditors.

The company’s Board of Directors reviewed these results, which detail performance across multiple periods. In terms of operational finances, Starbeam Ventures recorded Total Income of 1,200.71 (in lacs) for the quarter ended March 31, 2026, compared to 204.36 in the previous audited quarter.

The company reported a Net Profit After Tax from Business Operations of 184.96 (in lacs) for the year ended March 31, 2026. The financial results highlight significant investments and transactions, including the recording of other equity capital totaling 1,134.62 (in lacs).

A summary of key income statements across various reporting periods is provided below:


<h2>Audit Qualifications and Observations</h2>

The Statutory Auditors issued a qualified opinion on the standalone financial results for the quarter ended March 31, 2026, as well as the year to date results for the period from April 1, 2025, to March 31, 2026.

The basis for the qualified opinion noted several areas of concern:

• Financial Asset Status: The auditors noted that while financial assets constitute more than 50 percent of total assets and income from financial assets constitutes more than 50 percent of gross income, the company does not hold registration under the provisions of Section 45-lA of the Reserve Bank of India Act, 1934.
• Unsecured Loans: The outstanding balance of unsecured loans received, loans advanced, and trade advances requires confirmation with supporting documentation.
• Loans & Receivables: The company accepted loans liability from individuals that contravenes Section 73 of the Companies Act, 2013. Furthermore, management did not provide sufficient independent documentary evidence regarding unsecured loans and advances outstanding at the reporting date, making it difficult to determine their impact on the financials.
• Trade Receivables: The auditors observed that trade receivables for more than six months existed at the report signing date, and they were unable to obtain sufficient audit evidence regarding the recoverability of these balances, noting that management had not made adequate provision against such receivables.

<h2>Financial Position and Cash Flow Summary</h2>

The Audited Statement of Assets and Liabilities as at March 31, 2026, shows a total asset base of 9,036.32 (in lacs). The company's equity and liabilities totaled the same amount. Key assets include Non-Current Assets like Intangible Assets (1,500.00), while Current Assets include Financial assets such as Loans at 5,721.63 and Trade receivables at 1,417.61 (both in lacs).

In terms of financing activities, the Cash Flow Statement detailed a Net Increase in Cash & Cash Equivalents of 106.09 for the period ending March 31, 2026. This increase was primarily driven by an Issue of share Capital amounting to 7,950.17 and Proceeds from unsecured loans at 166.00 (both in lacs).

A detailed view of the financial status is provided below:

Stock Price Movement​

Bluegod Entertainment Ltd's shares settled on Monday at ₹1.69, recording a 4.52% drop from the previous close. The stock remained completely flat throughout the session, with the high and low remaining locked at the closing price of ₹1.69.