Re-appointment of Internal Auditor for Financial Year 2026-27
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AIK Pipes and Polymers Ltd's Board meeting on May 30, 2026 approved two items: audited financial results for FY2026 and re-appointment of M/s SASH & Associates as Internal Auditor for FY2026-27. The company reported revenue of Rs 545.09 lakhs for FY2026, a steep decline from Rs 2,505.70 lakhs in FY2025. PAT dropped to Rs 8.71 lakhs from Rs 127.65 lakhs in the prior year. Operating cash flow turned negative at Rs 94.20 lakhs versus a positive Rs 3.17 lakhs in FY2025. Short-term borrowings increased to Rs 724.39 lakhs from Rs 496.11 lakhs. Statutory auditors R P Khandelwal & Associates issued an unmodified (clean) opinion on the financial statements.
The company has seen a significant deterioration in financial performance with revenue declining over 78% and profit dropping sharply. Negative operating cash flow and increased short-term borrowings indicate liquidity stress. However, the clean audit opinion provides some comfort regarding financial reporting integrity.