Revised FY26 results with two audit qualifications on related-party loan and inventory
ISHANCH · price
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Ishan Dyes and Chemicals reported revised audited FY26 results. Revenue from operations fell about 28 percent to Rs. 7,347.13 lakhs versus Rs. 10,146.96 lakhs in FY25. The company swung to a net loss of Rs. 710.85 lakhs from a profit of Rs. 108.50 lakhs. EPS was negative Rs. 3.00 against Rs. 0.52. The statutory auditor issued a qualified opinion on two items: a Rs. 1,460.22 lakh unsecured loan to associate Cluster Enviro Private Limited whose net worth is negative, and finished-goods inventory valued Rs. 284.78 lakhs above cost. The board appointed M/s H D Panchal and Co as internal auditor for FY27.
Qualified audit flags a Rs. 1,460 lakh related-party loan at risk and inventory overstatement; net loss of Rs. 711 lakhs. Negative for shareholder sentiment.