Pursuant to Regulation 30(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform you that the Board of Directors in their meeting held today i.e., ....
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Mihika Industries Ltd's Board meeting on 27th May 2026 approved the audited financial results for Q4 and year ended 31st March 2026. The company reported net profit of Rs. 5.46 lakhs for FY 2025-26, down from Rs. 11.15 lakhs in the previous year. Revenue from operations stood at Rs. 3,473.83 lakhs for the year. EPS for the year was Rs. 0.05 per share. The Board also appointed M/s. Jay Pandya & Associates as Secretarial Auditor for FY 2025-26. The statutory auditor issued an unmodified opinion, though significant audit concerns were raised including: lack of balance confirmations for trade receivables/payables, incomplete inventory valuation documentation, absence of internal auditor for the entire financial year (non-compliance with Companies Act 2013), and missing loan agreements and confirmations.
While the company declared an unmodified audit opinion, multiple emphasis of matter notes indicate weak internal controls and documentation gaps. The appointment of a secretarial auditor adds an extra compliance layer. Shareholders should note the decline in annual profitability and the auditor's reservations about financial statement reliability.