SecUR Credentials Reports ₹249.15 Lakh FY26 Net Loss

SecUR Credentials Limited reported a net loss of ₹249.15 lakh for the financial year ended March 31, 2026, while its cash balance declined to ₹0.78 lakh and trading in its securities remained suspended by NSE and BSE. The annual report also records audit verification concerns and multiple listing-compliance lapses.

What did SecUR Credentials report for FY26?

SecUR Credentials Limited disclosed a net loss of ₹249.15 lakh for FY26 in its annual report filed under the SEBI Listing Regulations. The report accompanied the notice for the company’s 25th Annual General Meeting, which is scheduled for November 26, 2026.

The company’s annual-results data shows revenue of ₹57 lakh for FY26, compared with ₹81 lakh in FY25. The FY26 loss was lower than the ₹804 lakh net loss reported for FY25, but the figures continue to show a substantially reduced scale of operations compared with earlier years.

The balance-sheet disclosures point to a weak liquidity position. Cash and cash equivalents stood at ₹0.78 lakh at March 31, 2026, against ₹1.79 lakh a year earlier. Bank balances other than cash equivalents declined to nil from ₹204.95 lakh in FY25.

Why did auditors raise verification concerns?

Auditors noted verification concerns around certain reported balances, including trade receivables of ₹2,456.54 lakh after expected credit losses and unbilled revenue of ₹1,363.56 lakh. The unbilled revenue balance was unchanged between FY25 and FY26, according to the annual-report data.

The concerns follow qualifications and emphasis-of-matter observations in the company’s earlier quarterly limited-review reports. For the quarter ended December 31, 2024, statutory auditors JPMD & Associates cited unverified inventory, outstanding statutory dues and a loan to a director that was reported as contravening Section 185 of the Companies Act, 2013.

The revised Q3FY25 limited-review report did not change the underlying financial results. SecUR Credentials said the replacement was made to correct an inadvertent error in the limited-review report initially filed with the exchanges. The board had approved the unaudited results on May 4, 2026, and the revised filing was submitted on August 4, 2026.

For Q2FY25, the auditors also recorded that GST records and documentation relating to certain statutory matters were not available for verification. The company’s filings said PF and ESIC challans and returns were not produced for audit verification in the Q3FY25 review.

What were the earlier quarterly losses and disclosures?

SecUR Credentials reported a net loss of ₹132.99 lakh for the quarter ended September 30, 2024, compared with total income of ₹97.66 lakh. Revenue from operations for that quarter was ₹79.07 lakh, down 88.7% year-on-year from ₹704.26 lakh.

For the quarter ended December 31, 2024, the company reported a net loss of ₹215.97 lakh, compared with a profit of ₹41.44 lakh in the corresponding quarter of the previous year. Revenue from operations was negative ₹87.49 lakh, compared with ₹704.26 lakh a year earlier.

For the nine months ended December 31, 2024, SecUR Credentials reported a cumulative net loss of ₹731.57 lakh, against a profit of ₹467.27 lakh in the corresponding period of FY24. Total expenses in the nine-month period were ₹748.34 lakh, while revenue from operations was negative ₹3.90 lakh.

The company subsequently submitted revised Q2FY25 results to include cash-flow statements omitted from the original filing. It said there was no change in the standalone financial results approved by the board, and that the revision only added the cash-flow statements.

Why is trading in SecUR Credentials shares suspended?

Trading in SecUR Credentials securities has been suspended by NSE and BSE because of non-payment of annual listing fees and non-submission of financial results. The suspension restricts normal exchange trading and is a material consideration for existing shareholders and prospective investors.

The company also acknowledged delays in meeting several obligations under the SEBI Listing Regulations. These included delayed intimations to the exchanges and failure to update the company website as required.

A secretarial audit report separately highlighted governance shortcomings during the review period. It stated that the company did not have an optimum combination of directors as required under the Companies Act, 2013.

These disclosures place the company’s financial reporting and compliance record in focus. While the FY26 net loss narrowed from FY25, the annual report identifies continuing issues around available cash, reporting compliance, and verification of selected balance-sheet items.

How do these disclosures affect investors and operations?

The fall in cash and the elimination of bank balances other than cash equivalents indicate limited immediately available funds reported at year-end. At the same time, reported trade receivables and unbilled revenue together exceeded ₹3,820 lakh, making the collection and verification of these balances relevant to an assessment of the company’s financial position.

The reported FY26 revenue of ₹57 lakh was modest relative to the historical annual revenue figures cited in the company’s results data. The combination of low reported revenue, continuing losses and prior audit observations provides context for the exchange suspension and compliance disclosures.

For investors, the central disclosed issues are the company’s ability to complete regulatory filings, address audit observations, and restore exchange compliance. The article’s source material does not provide a confirmed timetable for lifting the trading suspension or for resolving the matters raised in the audit reports.

Conclusion

SecUR Credentials Limited’s FY26 annual report shows a ₹249.15 lakh net loss, ₹0.78 lakh of cash, and nil bank balances other than cash equivalents. The filing also brings together concerns over trade receivables, unchanged unbilled revenue, prior audit qualifications, and failures under listing and corporate-governance requirements.

Investors will watch the November 26, 2026 Annual General Meeting, subsequent exchange disclosures, and any updates on payment of listing fees, pending financial submissions, audit verification matters and the status of the trading suspension.