As per PDF attached
Awaiting price reaction for this filing.
Melstar Information Technologies held its Board meeting on May 25, 2026, approving audited financial results for Q4 and FY 2025-26 (standalone net profit: Rs 44.72 lakh on revenue of Rs 75 lakh; consolidated net profit: Rs 10.29 lakh on same revenue). Both standalone and consolidated results received a Qualified Opinion from auditors CKSP & Co LLP due to an ongoing corporate insolvency resolution process admitted by NCLT Mumbai in October 2019 under IBC. The auditors have flagged going concern uncertainty as the company awaits business licenses and clearances to commence operations. Key governance changes include resignation of Mr. Rajnikant Patel as Independent Director (personal reasons, no material concerns), appointment of Ms. Ayushi Singh Bais as Additional Independent Director (strategic finance professional), and replacement of internal auditors — M/s M. N. Kholiya & Associates resigned citing fee disputes, replaced by M/s Saini & Saini for FY 2026-27. All board committees were reconstituted to include the new director.
The Qualified Opinion and ongoing insolvency proceedings highlight significant risk. The company reported modest profitability but still depends on business licenses to start operations. Director and auditor changes suggest governance shifts but may cause short-term uncertainty.