As per PDF attached
Awaiting price reaction for this filing.
Melstar Information Technologies Ltd's Board of Directors meeting on 25 May 2026 approved the audited standalone and consolidated financial results for Q4 and FY ended 31 March 2026. Standalone net profit was Rs. 44.72 lakh (EPS Rs. 1.60) on total income of Rs. 75 lakh; consolidated net profit was Rs. 10.29 lakh (EPS Rs. 0.37), impacted by subsidiary losses of Rs. 34.43 lakh and Rs. 147.80 lakh (quarter and full year respectively). The auditors issued a qualified opinion for both standalone and consolidated results, citing ongoing corporate insolvency proceedings admitted by NCLT Mumbai in October 2019 under IBC, 2016. The financial statements are prepared on a going concern basis. Mr. Rajnikant Patel resigned as Non-Executive Independent Director (effective 24 May 2026) citing pre-occupation and professional commitments; no other material reasons were stated. Ms. Ayushi Singh Bais, a strategic finance professional, was appointed as Additional Director (Non-Executive & Independent), subject to shareholder approval for a 5-year term. All four board committees (Audit, NRC, SRC, and Risk Management) were re-constituted with new memberships. The internal auditors were changed from M/s M. N. Kholiya & Associates (resigned citing fee disagreements) to M/s Saini & Saini, Chartered Accountants for FY 2026-27. M/s S. Talwar & Associates was reappointed as Secretarial Auditor for FY 2025-26.
The qualified audit opinion highlighting the 2019 IBC insolvency case and going concern uncertainty keeps the stock at elevated risk, despite the company posting standalone and consolidated profits this year. The director resignation followed by a new independent director appointment may provide fresh oversight, but investors should monitor pending business licences and operational commencement closely.