Appointment of M/s Jain Ronak & Co. Chartered Accountants (FRN No. 144548W) as the Internal Auditor of the Company for the period of one year for the F.Y 2025-26
Awaiting price reaction for this filing.
The board of Birla Cotsyn met on August 7, 2025, and approved the Q1 FY26 unaudited financial results, which showed a standalone net loss of Rs. 400.54 lakhs, wider than the Rs. 163.70 lakhs loss in the same quarter last year. Revenue from operations remained nil, with only Rs. 3.12 lakhs of other income, and EPS stood at negative Rs. 2.79. The board approved the appointment of M/s. Jain Kothari & Co. as new statutory auditors for five years (replacing PSV Jain & Associates whose term is completing), M/s. Jain Ronak & Co. as internal auditor for FY 2025-26, and M/s. Vijay S. Tiwari & Associates as secretarial auditor for five years. All auditor changes are subject to shareholder approval at the upcoming AGM. The company continues to operate in a single segment, 'Other Textile Products,' and is posting widening losses with no operating revenue.
Shareholders should note ongoing operational weakness, as the company is reporting wider losses with no core revenue. The auditor changes are routine, driven by completion of the existing statutory auditor's term rather than any governance concern.