Appointment of Internal Auditor and Secretarial Auditor of the Company for the Financial Year 2026-27
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The Board of Directors of Avax Apparels and Ornaments Limited held a meeting on May 25, 2026 and approved the Standalone Audited Financial Results for the half year and year ended March 31, 2026. Revenue from operations stood at Rs. 345.86 lac for H2 and Rs. 770.89 lac for the full year, with profit after tax of Rs. 77.09 lac for H2 and Rs. 183.18 lac for FY 2025-26, up from Rs. 257.33 lac in the prior year. The statutory auditors NKSC & Co. issued an unmodified opinion. The Board also appointed M/s. Prince Kumar & Associates as Internal Auditor and re-appointed M/s. G Gupta and Associates as Secretarial Auditor for FY 2026-27, both confirmed as unrelated to any directors. Total assets grew to Rs. 1,452.50 lac from Rs. 928.82 lac in the prior year, reflecting significant balance sheet expansion, partly funded by borrowings of Rs. 410.52 lac (up from Rs. 66.35 lac).
The company reported strong year-on-year profit growth and an unmodified audit opinion, which is positive. However, the sharp rise in borrowings warrants monitoring. The routine appointment of auditors for the new financial year carries no governance concern.