Banka BioLoo Limited has informed the Exchange regarding Appointment of SMAB and Associates as Internal Auditors of the company w.e.f. May 26, 2026.
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Banka BioLoo Limited reported a significant turnaround with standalone PAT of Rs. 38.21 lakhs for FY26 versus a loss of Rs. 929.64 lakhs in FY25. Standalone revenue grew 8.65% to Rs. 5,975.76 lakhs. The Board approved appointment of Ms. Srilakshmi Manjula Chaitanya Chunduru as Company Secretary and Compliance Officer, and appointed M/s. SMAB & Associates as Internal Auditors for FY26-27. Auditors issued unmodified opinions on both standalone and consolidated results. However, auditors flagged emphasis of matter on Rs. 687.44 lakhs (25% of trade receivables) receivable from government bodies, including Rs. 125.26 lakhs outstanding over two years with no provision. A subsidiary, Enzotech Solutions Pvt Ltd, is under NCLT insolvency proceedings.
The company returned to profitability after two loss-making years, signaling operational recovery. However, the unresolved subsidiary insolvency and large old receivables from government bodies present ongoing risks to cash flows and financial stability.