Appointment of Internal Auditor
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Add-Shop E-Retail Limited held its Board meeting on 22nd May 2026 and approved two key items: (1) Appointment of M/s. Princy Mehta & Associates as Internal Auditor for FY 2026-27, and (2) Audited Financial Results for Q4 and Year ended 31st March 2026. For FY 2026, revenue from operations stood at Rs 15,520.40 Lakhs, virtually flat compared to Rs 15,512.95 Lakhs in FY 2025. However, profit after tax declined significantly to Rs 36.06 Lakhs from Rs 105.40 Lakhs in the previous year, a drop of about 66%. The company operates across six segments including Ayurvedic products, animal food, sanitary pads, agriculture products, and books. The statutory auditor issued an unmodified opinion but flagged concerns: trade receivables at 72.24% of revenue indicating high debtor holding period, and inability to verify one-to-one transactions for distribution commissions totaling Rs 23.23 crore due to party-wise accounting limitations.
The steep decline in profit despite flat revenue is concerning for shareholders. The auditor's red flag on high trade receivables (debtors holding period too high) and transaction verification issues raise questions about working capital management and internal controls, which could negatively impact investor sentiment.