Q1 FY26 results, Rs 105 cr Rights Issue, auditor change recommended
KOHINOOR · price
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Board approved Q1 FY26 standalone and consolidated results with a qualified auditor review. Board also cleared raising up to Rs 105 crore via a Rights Issue of equity shares. It recommended M/s Arora and Choudhary as new statutory auditor for 5 years, replacing N C Raj and Associates whose tenure ended. 37th AGM set for 30 Sept 2026. Auditor flagged non-provisioning of interest on revoked US subsidiary guarantee and emphasized pending litigations.
Rights Issue may dilute existing shareholders. Qualified review, going concern note, and DRT demand of Rs 926 cr flag risks despite fully paid OTS.