As per PDF attached
Awaiting price reaction for this filing.
Melstar Information Technologies reported audited FY 2025-26 results. Standalone net profit was Rs 44.72 lakh (EPS Rs 1.60) on total income of Rs 75 lakh, with total expenditure of Rs 30.28 lakh. Consolidated net profit was Rs 10.29 lakh (EPS Rs 0.37) as two subsidiaries together reported a net loss of Rs 147.80 lakh for the year. Auditors issued a Qualified Opinion on both standalone and consolidated results due to ongoing IBC proceedings admitted in October 2019 – the financials are prepared on a going concern basis pending business licenses. Mr. Rajnikant Patel resigned as Independent Director on 24 May 2026 citing pre-occupation. Ms. Ayushi Singh Bais was appointed as Additional Independent Director (subject to shareholder approval) for a 5-year term, bringing expertise in finance, law, and corporate governance. All four board committees (Audit, NRC, SRC, RMC) were reconstituted with her as a member. Internal auditors were changed from M/s M. N. Kholiya & Associates (resigned citing commercial/fee disputes) to M/s Saini & Saini for FY 2026-27.
The Qualified Opinion and ongoing IBC proceedings remain a serious concern for investors despite reporting standalone and consolidated profits this year. The company is awaiting business licenses to commence operations. Shareholders should monitor whether Ms. Ayushi Singh Bais's appointment is approved at the next general meeting and watch for updates on the IBC resolution status.