Pursuant to Regulation 30 and schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, The Board of Directors of the Company at its meeting held today, ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mangalam Industrial Finance Ltd's board approved its Q4 and FY26 audited financial results showing a net loss of Rs. 100.28 Lakhs, a sharp reversal from FY25 profit of Rs. 123.19 Lakhs. Total income surged to Rs. 2,681.34 Lakhs primarily driven by fees and commission income of Rs. 2,253.18 Lakhs, though the company incurred significant impairment provisions of Rs. 408.16 Lakhs (vs Rs. 4.97 Lakhs last year). Statutory auditors M/s. Mahesh Udhwani & Associates issued a qualified opinion citing inability to verify major related party expenditures due to insufficient documentation. The company also disclosed an additional Rs. 11.44 crore loan to a related party despite past EMI delays. New internal auditors M/s. Upadhyay & Company LLP were appointed for FY26-27. The board meeting lasted from 18:30 to 20:30 IST.
The qualified audit opinion and related party transaction concerns highlight governance and transparency issues that could concern investors. The sharp swing from profit to loss, combined with auditors' inability to verify related party expenses, suggests elevated risk. The company's Rs. 11.44 crore related party loan despite payment defaults is particularly concerning.