Aro Granite Industries Limited has informed the Exchange about the Re-Appointment of M/s. Sreekantha & Co., Chartered Accountants as the Internal Auditor of the Company for the Financial Year 2026-27.
AROGRANITE · price
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Aro Granite Industries Limited's Board approved the re-appointment of M/s. Sreekantha & Co., Chartered Accountants as Internal Auditor for FY 2026-27. The Board also approved audited financial results showing significant concerns: the company reported a net loss of Rs. 1,181.75 Lakhs for FY26 compared to a loss of Rs. 685.17 Lakhs in FY25. Revenue from operations declined sharply to Rs. 7,351.59 Lakhs from Rs. 12,309.05 Lakhs in the previous year. The statutory auditors issued an unmodified (clean) opinion on the financial statements. The Quartz Division continues to be loss-making while the Granite Division remains profitable but declining.
The re-appointment of the internal auditor is a routine governance matter with no immediate shareholder impact. However, the significantly worsening financial performance with doubling of losses and near 40% revenue decline signals operational challenges that investors should monitor closely.