Cessation of Internal Auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Meera Industries' internal auditor D D R & Co., Chartered Accountants, has resigned effective May 29, 2026, citing professional pre-occupations and other commitments. The firm served as Internal Auditor since FY 2017-18 and declined reappointment for FY 2026-27. The company states there are no other material reasons for the departure. The resignation was approved by the Audit Committee and the Board at their May 29, 2026 meeting. The Board also approved audited financial results with an unmodified opinion from statutory auditor K A Sanghavi & Co LLP. Standalone revenue for FY 2026 was Rs. 3,675.32 Lakhs (down from Rs. 4,026.01 Lakhs YoY), and profit before tax was Rs. 99.11 Lakhs (down from Rs. 479.63 Lakhs YoY).
The internal auditor change is procedural but creates a temporary gap in the company's internal audit function. The significant decline in profitability (PBT fell 79% YoY) may concern investors more than the auditor change. The company needs to appoint a replacement promptly to maintain governance compliance.