Resignation of Statutory Auditor of the Company
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Kalind Ltd's board, at its meeting on February 12, 2026, accepted the resignation of M/s. Mishra Karwa & Co., Chartered Accountants as Joint Statutory Auditor, effective February 11, 2026 — just about six weeks after their appointment on December 27, 2025. The firm cited pre-existing professional commitments and resource constraints as reasons, and confirmed no disagreements with management. M/s. JMMK & Co. will continue as the sole Statutory Auditor. The board also approved unaudited Q3 FY26 results. Standalone revenue from operations jumped to ₹1,490.79 lakh (Q3) and ₹4,504.62 lakh (9M FY26) from near-zero a year ago, with 9M standalone profit of ₹1,651.99 lakh (EPS ₹3.24). Consolidated 9M revenue stood at ₹4,673.16 lakh with profit of ₹1,223.05 lakh, including subsidiary Prasad Earth Movers. Notably, JMMK & Co. issued a qualified review report, flagging inability to verify machinery hire income, hire charges, and related expenses due to missing reconciliation between hired machinery, deployed machinery, and customer contracts.
Short-term negative sentiment likely due to the abrupt auditor exit and the qualified audit opinion highlighting weak documentation around hire income/expenses. However, the company remains audited (by JMMK & Co.), profitability has surged sharply YoY, and no governance red flags were raised by the resigning auditor. Shareholders should watch for clarity on the audit qualification in future filings.