Appointment of M/s. Rahul J Garg, Chartered Accountants (FRN: 035806N) as the Internal Auditors of the Company for the Financial Year 2026-27.
Awaiting price reaction for this filing.
C & C Constructions Ltd reported its audited standalone financial results for FY ended March 31, 2026. The company posted a net loss of ₹287.93 million on total income of ₹335.65 million, with negative equity of ₹21,005.95 million. Revenue from operations stood at ₹200.96 million. The Board also approved appointment of M/s. Rahul J Garg, Chartered Accountants as Internal Auditors for FY 2026-27. The company continues to operate under a cloud of unresolved IBC (Insolvency and Bankruptcy Code) proceedings: it was acquired as a going concern by M/s R K Constructions on December 27, 2024, for ₹104 crore, but the formal liquidation closure is still pending before NCLT. The new management has access to only limited pre-acquisition financial records from the Liquidator, and has filed an application with NCLT seeking reliefs and concessions on accounting treatments. The statutory auditors issued unmodified opinions with Emphasis of Matter paragraphs highlighting these uncertainties, historical tax prosecution notices, and PF damages summons.
The stock remains highly speculative given negative equity of over ₹21,000 million, ongoing IBC liquidation uncertainty, and limited financial transparency. The appointment of new internal auditors is a routine governance step but does not change the fundamental risk profile of the company.