Appointment of M/s. AKGVG & Associates, Chartered accountants, as Statutory Auditors of the Company.
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Kisan Mouldings held a Board meeting on May 5, 2026 approving FY2026 audited results. The company reported consolidated revenue of ₹24,932.65 lakhs, down 8.7% from ₹27,301.01 lakhs in FY2025. It posted a consolidated loss before tax of ₹741.89 lakhs versus a profit of ₹339.16 lakhs previously. EPS turned negative at ₹(0.62) per share. The company experienced significant leadership upheaval with three resignations: Chairman & MD Sanjeev Amarnath Aggarwal, Independent Director Sunil Agarwal, and Statutory Auditors Sen & Ray. Arun Agarwal has been elevated to Managing Director effective June 1, 2026. New auditors M/s. AKGVG & Associates have been appointed to fill the casual vacancy. Operating cash flow remained negative at ₹(277.85) lakhs. The statutory auditors issued an unmodified opinion on the financial statements.
The stock faces pressure from multiple factors: steep revenue decline of 8.7%, shift to net loss, negative EPS, and continued negative operating cash flow. Multiple top-level departures including the CMD and statutory auditors within the same meeting signal potential governance concerns. While auditors gave clean opinion, the financial deterioration is substantial.