What’s new

• Revenue from operations dropped to nil from ₹92.70 lakh in the preceding quarter.
• Net loss of ₹7.42 lakh, narrower than the prior quarter's ₹50.57 lakh loss but wider than the year-ago ₹8.57 lakh loss.
• Statutory auditor again issued a qualified opinion due to unverified trade receivable and payable balances.

Why it matters

Zero revenue for a ₹7 crore market cap pharma company raises business continuity questions. The persistent auditor qualification makes the financials unreliable. This is a governance flag as much as a performance miss.

What we’re watching

• Whether revenue reappears in the September quarter.
• Any management response to the auditor's concerns on trade balances.
• If the board addresses the going-concern implications of nil revenue.

The full read

Hemo Organic's revenue vanished in the June quarter. From ₹92.70 lakh three months ago, it fell to nil - no revenue from operations at all. The net loss of ₹7.42 lakh was smaller than the preceding quarter's ₹50.57 lakh but still wider than the year-ago loss of ₹8.57 lakh. The auditor again refused to confirm trade receivables and payables, repeating a pattern from the annual results. For a ₹7 crore market cap pharma company, zero revenue isn't just a bad quarter. It raises real questions about whether the business is still running. The loss narrowing is cold comfort when the top line has disappeared and the books can't be verified. The board hasn't yet explained any of this.

Primary source: BSE · NSE

What’s new

• Annual revenue fell to ₹93.10 lakh from ₹248.42 lakh, a drop of over 60%.
• The company posted a full-year net loss of ₹77.81 lakh, swinging from a profit.
• Auditors qualified their report over missing balance confirmations; management reversed all deferred tax assets.

Why it matters

A qualified audit opinion means the financials come with a warning label: the numbers for receivables, payables, and loans are not independently verified. Combined with a 63% revenue collapse and a full write-off of future tax benefits, the filing paints a picture of a company whose operational and accounting foundations are crumbling.

What we’re watching

• Whether the qualified opinion escalates to an adverse one in FY27 if records aren't fixed.
• The impact of the recent warrant allotment on the depleted share capital base.
• If the revenue slide continues, Hemo Organic risks hitting SEBI's net-worth thresholds.

The full read

Hemo Organic is shrinking fast. Revenue fell to ₹93.10 lakh from ₹248.42 lakh in FY26, a drop of over 60%. The company swung from a ₹16.39 lakh profit to a ₹77.81 lakh loss.

Its auditors aren't comfortable with the books either. They issued a qualified opinion because they could not get balance confirmations for trade receivables, payables, and loans. Management, meanwhile, wrote off ₹27.93 lakh in deferred tax assets, conceding it doesn't expect to make taxable profits again soon. The recent warrant allotment provides a cash buffer, but the fundamentals are worsening. With revenue at these levels, the company is barely covering its administrative costs.

Primary source: BSE · NSE