Audited Financial Results (Standalone & Consolidated) for the quarter and year ended 31st March 2026
Awaiting price reaction for this filing.
Melstar Information Technologies reported standalone net profit of Rs 44.72 lakhs on total income of Rs 75 lakhs for FY26, with EPS of Rs 1.60. Consolidated net profit stood at Rs 10.29 lakhs (EPS Rs 0.37). The auditors issued a Qualified Opinion for both standalone and consolidated results due to ongoing corporate insolvency proceedings initiated under IBC in October 2019. The company is awaiting business licenses to start operations and has undergone management changes with new business plans. Board changes include resignation of Independent Director Rajnikant Patel and appointment of Ms. Ayushi Singh Bais as Additional Independent Director. Internal auditors were also changed from M/s M.N. Kholiya & Associate to M/s Saini & Saini. Two subsidiaries reported losses totaling Rs 147.80 lakhs for the year.
The Qualified Opinion due to IBC proceedings raises significant concerns about the company's ability to continue as a going concern. Investors should exercise caution as the company is still awaiting operational licenses and revenue levels remain very low at Rs 75 lakhs, making the turnaround highly uncertain.