🧯Sati Poly Plast FY25 Results: Fire Broke Out, Auditors Walked Out — What Exactly Is Left to Audit?
🧠 At a glance
On 15th February 2025, a fire at Sati Poly Plast’s premises destroyed inventory, fixed assets, and accounting records. But instead of a recovery plan, shareholders got… a “Disclaimer of Opinion” from the auditor. That’s audit-speak for: “Humse na ho payega.” FY25 results were approved by the board. But verified? Not really.
Welcome to India’s first “blindfolded balance sheet.”
🏢 About the Company
Sati Poly Plast Ltd (formerly a Pvt Ltd) is engaged in manufacturing and supply of plastic-based products — used in packaging, industrial applications, and consumer use. The company operates out of Bhagalpur, Bihar, with a corporate office in Noida.
Their website says “Poly for Every Purpose.” We think they meant “Poly Problems for Every Auditor.”
👔 Key Managerial Personnel (KMP)
Name
Role
Akanksha Jain
Company Secretary
Auditor
Keyur Shah & Associates, Ahmedabad
CFO
Not disclosed in filings
No Managing Director or CFO commentary on the fire was released. Apparently, the flames spoke louder than words.
🔥 The Fire That Lit Up FY25 (And The Balance Sheet)
According to the audit report:
🔥 Fire broke out on 15 February 2025
📄 Destroyed accounting records, supporting documents, inventory, and fixed assets
💰 Management claimed insurance — but the survey is still “in process”
😶🌫️ Auditors say: “We couldn’t verify anything, because nothing is left to verify.”
This is not a figure of speech — the actual report says:
“We were unable to obtain sufficient and appropriate audit evidence regarding the accounting treatment of the loss due
