Unusual move: Arrow Greentech reports negative sales for Q4

The company is involved in manufacturing water-soluble film, and green packaging

Plastic products company Arrow Greentech has declared unusual results.

The company's results show it had negative revenue from operations worth Rs 6.4 million. It had negative other income worth Rs 3.9 million.  Its total income was a negative Rs 10.3 million.

Business Standard spoke to two chartered accountants. Both said reporting negative sales was an unusual move. One chartered accountant said sales could be reversed if products had been returned. But this is not a regular occurrence.

“It is very rare,” he said.

The second person said the way the reversals had happened suggested that the management booked the transaction