Concord Drugs doubles revenue to ₹75.85 cr, but auditor flags receivables
Standalone revenue jumped 105% in FY26, yet the auditor raised concerns over ₹4.14 crore in long-overdue trade receivables.
— 1 earlier story on Concord Drugs Ltd. →What's new
- Standalone revenue hit ₹75.85 cr, a 105% increase over the prior year.
- Net profit rose to ₹1.04 cr from ₹29.57 lakhs.
- Auditor Pundarikashyam and Associates flagged ₹4.14 cr in receivables outstanding for over two years.
Why this matters
The top-line growth is sharp, but the auditor's refusal to sign off on the quality of ₹4.14 crore in receivables is a red flag. These unprovisioned dues represent a significant portion of the company's annual profit and suggest potential asset quality issues.
What we're watching
- Whether the company provides a recovery plan for the long-outstanding receivables.
- Confirmation of balances for the accounts flagged by the auditor.
- Sustainability of the current revenue growth rate in FY27.
The full read
Concord Drugs delivered a strong top-line performance in FY26, with standalone revenue climbing to ₹75.85 crore from ₹36.93 crore the year prior. Net profit followed suit, rising to ₹1.04 crore from ₹29.57 lakh. Despite this growth, the auditor's report casts a shadow over the balance sheet. Pundarikashyam and Associates flagged ₹4.14 crore in trade receivables that have been outstanding for more than two years. The company has made no provision for these dues, and the auditor noted that other balances remain unconfirmed. While the consolidation of Proton Remedies Private Limited contributed to the results, the lack of provisioning for long-overdue receivables suggests that the quality of the company's earnings may be lower than the headline growth implies. Investors are left with a clear tension between rapid expansion and questionable asset recovery.
Questions answered
- How much did Concord Drugs grow its revenue in FY26?
- The company reported standalone revenue of ₹75.85 crore, which is a 105% increase from the ₹36.93 crore reported in FY25.
- What specific concern did the auditor raise?
- Auditor Pundarikashyam and Associates noted that ₹4.14 crore in trade receivables have been outstanding for over two years without any provision made for them. They also noted that certain other balances remain subject to confirmation.
- Did the financial results include the company's subsidiary?
- Yes, the results include the full consolidation of the subsidiary, Proton Remedies Private Limited.
- What was the net profit for the year?
- Net profit rose to ₹1.04 crore for FY26, compared to ₹29.57 lakh in the previous year.
Story so far
All notes on CONCORD →- 27 May 2026 · 4:31 PM IST Concord Drugs doubles revenue to ₹75.85 cr, but auditor flags receivables
- today Concord Drugs reports FY26 revenue growth to ₹75.85 crore