Appointment of Internal Auditor for FY 2026-27
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Minal Industries' board, meeting on June 4, 2026, approved audited standalone and consolidated results for Q4 and FY ended March 31, 2026. Total income for FY26 rose to Rs. 771.02 lakhs from Rs. 99.58 lakhs a year ago, but the company still reported a net loss of Rs. 69.43 lakhs (vs Rs. 111.51 lakhs loss in FY25). The statutory auditor flagged a 'material uncertainty related to going concern' given accumulated losses of Rs. 2,216.82 lakhs, and gave a disclaimer of opinion on the company's internal financial controls. The board also appointed M/s. MMY & Associates as the new internal auditor for FY 2026-27 and noted the resignation of Mr. Piyush Harish Talyani as Company Secretary and Compliance Officer effective May 11, 2026. Separately, the auditor disclosed overdue loans of Rs. 1,464.95 lakhs with no reasonable recovery steps taken, and a pending NCLT petition filed by the Managing Director regarding share ownership disputes.
Shareholders should note the persistent losses, growing accumulated deficit, going-concern warning, and weak internal controls — these are significant red flags for the company's financial health. The change in Company Secretary adds to governance uncertainty, though revenue growth in FY26 is a modest positive signal.