Shyamkamal's profit is an accounting fiction; auditor flags ₹48.93 lakh loss
The FY26 net profit of ₹23.25 lakhs came entirely from reclassifying investments. Without that, a loss of ₹48.93 lakhs — more than double the reported figure.
— 2 earlier stories on Shyamkamal Investments Ltd. →What's new
- Audited FY26 net profit is ₹23.25 lakhs, but entirely driven by reclassifying equity investments from FVTPL to FVTOCI.
- Without the reclassification, the company would have reported a loss of ₹48.93 lakhs.
- Auditor also flagged unverified bank balances and incomplete audit trail implementation.
Why it matters
For a nano-cap with a ₹37 crore market cap, a qualified opinion that flips a profit into a wider loss is a governance red flag. Investors cannot rely on the headline number — the quality of earnings is zero, and the auditor is unwilling to sign off on basic balance-sheet items.
What we're watching
- Whether the company responds to the auditor's qualifications.
- Any follow-up on the unverified bank balances — a potential cash-flow problem.
- How the stock trades when markets open; the disconnect between reported profit and economic loss is material.
The full read
Shyamkamal Investments reported a net profit of ₹23.25 lakhs for FY26 — but the number is a mirage. The auditor's qualified opinion reveals that the entire profit came from reclassifying equity investments from fair value through profit or loss to fair value through other comprehensive income. Strip that out, and the company actually lost ₹48.93 lakhs. The auditor also flagged unverified bank balances and an incomplete audit trail. For a ₹37-crore market-cap investment company, this is not a routine annual result — it is a warning that reported earnings bear no relation to underlying business reality.