The Board of Directors in their meeting held today considered and approved the Appointment of Secretarial Auditors.
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Kush Industries Ltd reported audited financial results for FY 2025-26 (year ended 31 March 2026). The company posted a net loss of Rs. 4.91 lakh compared to a loss of Rs. 5.21 lakh in the previous year, showing a marginal improvement. Revenue from operations was minimal at Rs. 0.92 lakh. The balance sheet reveals serious concerns with negative total equity of Rs. 728.93 lakh, indicating erosion of net worth. Current liabilities stand at Rs. 905.46 lakh, primarily due to current borrowings of Rs. 892.50 lakh. Operating cash flow was negative at Rs. 16.80 lakh, and cash reserves declined significantly from Rs. 97.87 lakh to Rs. 35.91 lakh. The Board also approved appointment of M/s. Kashyap R. Mehta & Partners as Secretarial Auditors to fill a casual vacancy caused by the resignation of M/s. Nishant Pandya & Associates. Statutory auditors issued an unmodified opinion on the financial results.
The company shows severe financial stress with negative net worth and negative operating cash flow, raising significant doubts about its ability to continue as a going concern. The resignation of the previous secretarial auditor adds to governance concerns.