GB Global Limited has informed the Exchange regarding Change in Auditors of the company.
Awaiting price reaction for this filing.
GB Global Limited held a Board meeting on May 29, 2026, where it approved audited financial statements (standalone and consolidated) for Q4 and the full year ended March 31, 2026. The Board also appointed a Cost Auditor and Internal Auditor for FY 2026-27, and appointed M/s. Himesh Pandya & Associates as Secretarial Auditor for a 5-year term from FY 2025-26 to FY 2029-30. A key concern is that the statutory auditors issued audit reports with a modified opinion on the financial statements, indicating reservations or qualifications in their audit findings. The meeting lasted over 6 hours (3:30 PM to 9:30 PM). The headline mentions a change in auditors, but the filings primarily cover new appointments of cost, secretarial, and internal auditors, not a statutory auditor change.
A modified audit opinion raises red flags about the reliability of financial statements and could signal governance or financial health concerns to investors. The stock may face negative sentiment until the reasons for the modified opinion are clarified.