Bloom Industries' auditor flags cancelled GST, unpaid TDS for the year
The company reported zero revenue for the fourth consecutive quarter, with all profit coming from other income. Its auditor has again flagged serious statutory defaults.
— 2 earlier stories on Bloom Industries Ltd. →What's new
- Bloom Industries had zero operating revenue for both Q4 and the full year ended March 2026.
- Auditor Tibrewal Chand & Co. flagged that Bloom's GST registration was cancelled in December 2025.
- No TDS was deposited for the entire financial year, and GST returns hadn't been filed since May 2025.
Why this matters
This is not a company in operational difficulty; it's a company not operating at all. The auditor's repeated flagging of cancelled tax registrations and unpaid statutory dues indicates a failure to meet the bare minimum compliance requirements for a listed entity. At a ₹22 crore market cap, the governance risk now outweighs any financial profile.
What we're watching
- Whether SEBI or other regulators act on the repeated auditor flags regarding statutory defaults.
- If the company can reinstate its GST registration and resume any semblance of operations.
- Any further promoter action or governance changes beyond the routine CS appointment.
The full read
Bloom Industries is a listed company with zero operating revenue. Its ₹70.41 lakh Q4 profit, and the entire year's, came from other income. That would be concerning for a functioning business. For Bloom, it's the most benign issue. The auditor's report reiterates that the company's GST registration was cancelled in December 2025 after returns were not filed from May 2025 onward. No TDS was deposited for the year. This is not a new flag. The auditor has raised it before. For a company with a ₹22 crore market cap, the absence of revenue is one problem; the absence of basic tax compliance is another entirely. The board did approve a new company secretary, a routine move.
Questions answered
- Why did the auditor flag Bloom Industries' GST registration?
- The company's GST registration was cancelled in December 2025 after it failed to file returns starting from May 2025. This is a repeat flag from the auditor, indicating the issue has not been resolved.
- Where did the ₹70.41 lakh profit come from?
- The entire profit figure came from other income, as the company reported zero revenue from operations for both the quarter and the full year.
- Is the new company secretary appointment a significant change?
- No, it is a routine administrative appointment. The more material disclosure is the auditor's reiterated concern over the company's non-compliance with tax laws.
- What are the TDS issues mentioned by the auditor?
- The auditor reported that Bloom Industries did not deposit any Tax Deducted at Source for the entire financial year. This, combined with the GST cancellation, points to systemic non-compliance.
Story so far
All notes on BLOIN →- 26 May 2026 · 3:24 PM IST Bloom Industries' auditor flags cancelled GST, unpaid TDS for the year
- 41d ago Bloom Industries is a public company with no revenue, no GST, and no tax deposits.
- 41d ago Bloom Industries has zero sales and a cancelled GST registration.