Resignation of M/s. Mishra Karwa & Co., Chartered Accountants
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Kalind Limited's board accepted the resignation of M/s. Mishra Karwa & Co. as Joint Statutory Auditor on February 11, 2026, just about six weeks after their appointment on December 27, 2025. The auditor cited pre-existing professional commitments and inability to devote adequate time. The company also announced strong Q3FY26 results with standalone revenue of ₹1,490.79 lakh and net profit of ₹301.49 lakh, compared to a loss of ₹19.17 lakh in the same quarter last year. For 9MFY26, standalone net profit stood at ₹1,651.99 lakh versus a loss earlier. The remaining auditor JMMK & Co., however, issued a qualified conclusion flagging inadequate records on machinery hired from third parties.
Auditor resigning so soon after appointment is a mild governance red flag, though they stated no disagreements with management. Investors should monitor whether a replacement joint auditor is appointed soon. The financial turnaround is impressive on paper but the qualified auditor opinion on machinery hire records warrants caution.