Appointment of Internal and Tax Auditor.
Awaiting price reaction for this filing.
Alka India Limited (BSE: 530889) held a board meeting on August 7, 2025 and approved its Q1 FY26 (quarter ended June 30, 2025) unaudited standalone and consolidated financial results, reporting zero revenue and a net loss of Rs 41.69 lakhs on the standalone basis, with the statutory auditor (J M Patel & Bros) issuing a Disclaimer of Opinion on internal financial controls. The board appointed M/s PSG and Associates as Internal Auditor for a 5-year term starting FY 2025-26 and M/s J M Patel & Bros as Tax Auditor for FY 2025-26. Mr. Sagar Kumar Mertiya was appointed as Additional Independent Director and made Chairman of the Audit Committee, and both the Audit Committee and Nomination & Remuneration Committee were reconstituted. The company is operating under a new management that took over after the NCLT approved a resolution plan on February 7, 2025 in favour of Mr. Jatin Patel; share capital was restructured to Rs 50 lakhs divided into 50 lakh equity shares of Re 1 each, with 47.5 lakh shares allotted to the new promoter group and 2.5 lakh to existing public shareholders. Standalone net worth remains negative at Rs -55.25 lakhs.
For retail investors, this is a micro-cap, post-insolvency company with zero operating revenue, persistent losses, and a qualified (disclaimer) audit opinion on internal controls, signalling material governance and going-concern risks. However, the new management, completed capital restructuring, and fresh auditor/board appointments mark a stabilisation phase; investors should watch closely for any revival in actual business activity before considering exposure.