Mcleod Russel India Limited has informed the Exchange regarding Change in Auditors of the company.

The board approved Q1 FY26 (quarter ended June 30, 2025) unaudited results with revenue from operations of Rs. 16,803 lakhs and a net loss of Rs. 4,013 lakhs (EPS of Rs. -3.84). The statutory auditor, Lodha & Co LLP, issued an adverse conclusion on the results, flagging serious concerns: Rs. 2,86,050 lakhs in Inter-Corporate Deposits given to the promoter group and certain other entities that are doubtful of recovery (with only Rs. 1,01,039 lakhs already provided for), unresolved related-party and Section 185 compliance issues, and significant uncertainty over the going concern assumption. Other equity is deeply negative at Rs. -34,174 lakhs, and total borrowings stand at Rs. 1,46,107 lakhs, of which Rs. 1,03,303 lakhs have been assigned to NARCL with a resolution plan under consideration. Separately, the board recommended re-appointment of Ms. Rupanjana De as Independent Director for a second 3-year term, appointed M/s A.K. Labh & Co. as the new Secretarial Auditor for 5 years, and approved voluntary delisting from the Calcutta Stock Exchange (shares continue to trade on BSE and NSE, with no exit offer required).