Outcome of Board Meeting of the Company held on 26th May 2026.
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The Board approved the standalone audited financial results for Q4 and FY2026. Total income fell to Rs. 264.40 Lakhs from Rs. 1,079.73 Lakhs in the previous year, while profit after tax dropped to Rs. 80.58 Lakhs from Rs. 468.83 Lakhs. The company also increased its share capital from Rs. 95.15 Lakhs to Rs. 2,283.52 Lakhs through a 23:1 bonus share issue. The Board proposed shifting the registered office from Jaipur, Rajasthan to Mumbai, Maharashtra, pending shareholder approval via postal ballot. Additionally, Ms. Krina Gokulkumar Shah resigned as Secretarial Auditor for personal reasons, and M/s Pooja M Patel & Associates was appointed to fill the vacancy. M/s Kishan Patel & Associates was appointed as Internal Auditor for FY 2026-27. The auditor's report flagged that the company lacked a formal internal audit framework and noted material uncertainty regarding going concern.
The sharp decline in revenue and profits, combined with auditor concerns about internal controls and going concern, signals deterioration in financial health. The massive increase in share capital from bonus issuance will dilute earnings per share. Shareholders should carefully review the postal ballot for office relocation and director regularization.