As per PDF attached
Awaiting price reaction for this filing.
Melstar Information Technologies Ltd held its Board meeting on May 25, 2026, approving audited standalone and consolidated financial results for Q4 and FY 2025-26. Standalone results show revenue of Rs 75 lakhs with net profit of Rs 44.72 lakhs (EPS Rs 1.60), while consolidated results show net profit of Rs 10.29 lakhs (EPS Rs 0.37) after accounting for subsidiary losses of Rs 147.80 lakhs. Both standalone and consolidated results received Qualified Opinion from statutory auditor CKSP & Co LLP due to ongoing insolvency proceedings admitted by NCLT Mumbai in October 2019. The Board accepted resignation of Independent Director Mr. Rajnikant Patel (effective May 24) and appointed Ms. Ayushi Singh Bais as Additional Independent Director. All four committees (Audit, NRC, SRC, RMC) were reconstituted to include the new director. Internal auditors changed from M.N. Kholiya & Associates (resigned due to fee disputes) to M/s Saini & Saini for FY 2026-27.
The Qualified Opinion from auditors due to the 2019 insolvency case remains a concern for investors, though the company reported profits this year. The appointment of a new independent director with finance expertise and committee reconstitution may signal improved governance. Shareholders should note the consolidated losses from subsidiaries and ongoing business license delays.