Please find attached herewith Outcome of Board Meeting for the subject mentioned above and such other matter as per attachment
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Karbonsteel Engineering Ltd reported its unaudited financial results for the half year ended September 30, 2025. Revenue from operations rose to Rs. 13,970.28 lakh, up about 32% from Rs. 10,595.34 lakh in the same period last year. Profit after tax grew nearly 29% to Rs. 703.28 lakh from Rs. 544.37 lakh a year ago, with EPS at Rs. 6.16 (lower YoY due to higher share count from a bonus/rights issue). The board also accepted the resignation of internal auditor Desai Bhansali & Associates LLP (citing preoccupation, effective Nov 12, 2025) and appointed M/s. Chintan D. Shah & Associates as the new internal auditor for FY25-26. The statutory auditor gave an unmodified limited review opinion but flagged an Emphasis of Matter on trade receivables and sundry creditors, where confirmations were not available. It also noted unpaid income tax liability of Rs. 403.23 lakh and pending charge registration with the RoC for an ICICI Bank loan.
Strong top-line and profit growth signal healthy operating momentum, which is positive for shareholders. However, the auditor's emphasis on unconfirmed receivable and creditor balances, along with unpaid tax dues and pending charge filings, are governance red flags that investors should track closely. The mid-year internal auditor change is routine in appearance but worth monitoring for any underlying concerns.