Melstar Information Technologies Limited has submitted to the Exchange, the financial results for the period ended March 31, 2026.
Awaiting price reaction for this filing.
Melstar Information Technologies Limited reported audited standalone net profit of ₹44.72 lakh (EPS ₹1.60) and consolidated net profit of ₹10.29 lakh (EPS ₹0.37) for FY ended March 31, 2026, with total income of ₹75 lakh. Both standalone and consolidated financials received a Qualified Opinion from auditor CKSP & Co LLP due to the company's ongoing Corporate Insolvency Resolution Process admitted by NCLT Mumbai on October 1, 2019 under IBC, 2016. The auditors flagged material uncertainty regarding the company's ability to continue as a going concern, though financials are prepared on that basis pending business licenses and operational restart. Mr. Rajnikant Patel resigned as Independent Director (May 24, 2026) and Ms. Ayushi Singh Bais was appointed as Additional Director (Non-Executive & Independent) on May 25, 2026. The internal auditors were changed from M/s M. N. Kholiya & Associate to M/s Saini & Saini. All board committees were reconstituted accordingly.
The Qualified Opinion and ongoing insolvency proceedings indicate significant financial distress and going concern risk. The stark difference between standalone (₹44.72L profit) and consolidated (₹10.29L profit) results reflects heavy subsidiary losses of approximately ₹147.80 lakh. Shareholders should be cautious given the ongoing IBC proceedings and reliance on future operational licenses.