Appointment of M/s Babubhai Patel & Associates as an Internal Auditor of the Company for FY 2026-27
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Jattashankar Industries Ltd held a board meeting on May 29, 2026, approving audited financial statements for FY 2025-26. The company reported a profit before tax of Rs. 123.45 Lacs, a significant turnaround from a loss of Rs. 116.11 Lacs in the previous year. Total assets stood at Rs. 2,052.90 Lacs with reserves of Rs. 1,507.89 Lacs. Statutory auditors K.K. Jhunjhunwala & Co issued an unmodified opinion. The board also approved the appointment of M/s Babubhai Patel & Associates, a Chartered Accountant firm from Ahmedabad with over 35 years of experience, as the internal auditor for FY 2026-27. Cash flow from operations was negative at Rs. 2,015.29 Lacs, primarily due to increases in trade receivables and current assets.
The appointment of a new internal auditor is a routine governance matter with no immediate shareholder impact. The company showed strong profitability improvement year-over-year, though investors should note the negative operating cash flow.