On June 27, 2025, Adhbhut Infrastructure Limited (BSE Scrip Code: 539189) submitted a revised set of audited financial results for the quarter and financial year ended March 31, 2025, citing an inadvertent typographical error in the financial statements initially filed on May 29, 2025. The correction was formally communicated to the Listing Department of BSE Limited with a request to update the exchange records accordingly.

The revised disclosure includes updated financial statements, independent auditor’s report, statement of assets and liabilities, and cash flow data. The documents also reflect continued financial stress for the company and an ongoing provisional attachment order issued by the Directorate of Enforcement under the Prevention of Money Laundering Act (PMLA), 2002.

Audit Opinion and Observations

The statutory audit was conducted by Chatterjee & Chatterjee, Chartered Accountants, based in Varanasi. The firm provided an unqualified opinion, confirming that the financial statements:

• Are compliant with Regulation 33 of SEBI (LODR) Regulations, 2015,

• Present a true and fair view in conformity with Indian Accounting Standards (Ind-AS), and

• Reflect accurate figures for the quarter and year ended March 31, 2025.

However, the auditor issued two significant notes:

1. Material Uncertainty Related to Going Concern

The company incurred a net loss before tax of ₹35.80 lakh in Q4 FY25 and ₹95.17 lakh for the full year, with accumulated losses of ₹2,330.20 lakh as on March 31, 2025. This has led to a negative net worth of ₹677.24 lakh, casting significant doubt on the company’s ability to continue as a going concern.

2. Emphasis of Matter – Enforcement Directorate Action

The auditor also highlighted that several immovable properties and promoter-held shares were provisionally attached by the Deputy Director, Gurugram Zonal Office of the Directorate of Enforcement, vide Order No. 09/2024 dated 13th September 2024. While the financial impact remains unascertained, the management has asserted that the attachment does not affect ongoing operations.

Financial Performance Snapshot (Standalone):

The decline in revenue by nearly 67% year-over-year and an increase in total expenses contributed to the net loss, signifying operational inefficiencies and sustained pressure on the top line.

Statement of Assets & Liabilities

The decline in investment property value, near-zero liquidity, and high liabilities underline the financial vulnerability of the company.

Cash Flow Analysis:

The negative cash flow of ₹42.76 lakh highlights the company’s deteriorating liquidity, as it burns cash from operations and lacks fresh financing.

Other Key Disclosures:

• EPS (Earnings per Share) for FY25 dropped to (₹0.58) from ₹0.79 in FY24, indicating a sharp reversal in profitability.

• There are no exceptional items or modifications in audit reports, and no segment reporting as the company operates in a single segment.

• The ED’s provisional attachment, while noted as non-disruptive by management, remains a potential risk factor, especially regarding future fund-raising, asset monetization, and compliance matters.

Management's Statement & Compliance

The results were:

• Reviewed by the Audit Committee on May 29, 2025

• Approved by the Board of Directors on the same day

• Filed under Regulation 33 of SEBI LODR, without audit modifications

• Updated and corrected on June 27, 2025 via a fresh submission to BSE, as a revised version of the earlier disclosure

Managing Director Mr. Anubhav Dham (DIN: 02656812) digitally signed the documents and reaffirmed that despite financial challenges and enforcement proceedings, the core business operations remain unaffected.

Conclusion

Adhbhut Infrastructure Limited's re-submission of its FY25 audited results reflects compliance correction and transparency, but it also underscores the company’s serious financial distress, including:

• Negative net worth and operating losses

• Provisional attachment of properties by the ED

• Severe cash flow crunch and minimal liquidity

Despite management's assurance, the auditor’s going concern red flag and enforcement-related risk raise questions about the company’s operational and financial stability going forward.

Stakeholders, especially investors and regulators, will be closely monitoring how the company addresses these challenges, whether through capital restructuring, asset monetization, or revival strategies in FY26 and beyond.

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