Appoinment of Internal Auditor and Secretarial Auditor

AMS Polymers' board approved its audited FY25 results on May 28, 2025, reporting net sales of about ₹10,096 lakhs (up ~20% from ₹8,371 lakhs) and net profit of ₹77 lakhs versus ₹61 lakhs the prior year. The board also appointed M/s A Saini & Associates as Internal Auditor for FY26 and M/s Kundan Agrawal & Associates as Secretarial Auditor for a five-year term (FY26–FY30). Notably, while the board's outcome claims an 'unmodified opinion,' the actual statutory auditor's report from KVA & Company is an ADVERSE OPINION flagging material issues: no proper fixed asset register, no inventory physical verification, no ageing of receivables/payables, no provision for doubtful debts, no gratuity provision under Ind AS 19, non-compliance with related-party transaction rules (Sections 177, 188, 189 of the Companies Act, 2013), and missing MSME dues disclosure. Operating cash flow was negative ₹172 lakhs, short-term borrowings more than doubled to ₹5,179 lakhs, and trade receivables surged to ₹5,579 lakhs, raising working capital and liquidity concerns.