ENCLOSED HEREWITH BOARD MEETING OUTCOME DATED 30/05/2026
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Integrated Hitech Limited held its Board Meeting on May 30, 2026, approving the audited financial results for Q4 and FY ended March 31, 2026. The company reported total income of Rs. 5.08 lakhs for FY 2026 against expenses of Rs. 3,395.01 lakhs, resulting in a significant net loss. The statutory auditor ABNJ & Co. issued an UNMODIFIED (clean) opinion on the financial statements. Key board decisions include appointment of Mr. Nitin Arvind Oza as Internal Auditor for FY 2026-27, and noting the resignation of Mrs. Rainy Ramesh Singhi as Non-Executive Non-Independent Director effective March 26, 2026. The Board also noted withdrawal of a Company Petition filed with NCLT Chennai. The company's balance sheet shows negative other equity of Rs. 1,015.15 lakhs, total assets of Rs. 3.01 lakhs, and cash and cash equivalents of only Rs. 0.76 lakhs. The company incurred cash losses of Rs. 9.28 lakhs during FY 2026 compared to NIL in the previous year. An interesting finding from the auditor noted the company had not used accounting software with audit trail (edit log) feature.
The company is in significant financial distress with negative equity, declining revenues, and cash losses. While the auditors issued a clean opinion, the negative reserves and low cash position raise concerns about the company's ability to sustain operations. Shareholders should monitor the company's turnaround efforts and any fund-raising plans. The resignation of a director and NCLT petition withdrawal add to investor uncertainty.