Revised FY26 results with two audit qualifications on related-party loan and inventory

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.