Reliance Naval which reported its Q4 numbers yesterday, continues to be besieged by debt issues. The Q4 numbers not only showed an expansion of losses, but the auditor has also raised some material concerns.

SP Tulsian said that the auditors are right in raising concerns. However, on the fundamental side Tulsian thinks that the kind of losses that the company has been incurring, there are no hopes. He said, “On the audit observations, they are right in giving the three points and the financial health of the company seems to be quite bad, in spite of company having acquired about three years back from Nikhil Gandhi by the ADAG Group.”

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First Published:Apr 24, 2018 12:34 PM IST