The intimation for appointment of M/s J. M. Patel & Bros. (FY 2025-26, AY 2026-27) as Tax Auditor and M/s Mikil Vora and Associates (FY 2026-27) as internal Auditor of the company has been ....
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Mishtann Foods Ltd reported audited standalone net profit of Rs 272.52 lakhs for FY2025-26, down significantly from Rs 599.37 lakhs in the previous year. Revenue declined to Rs 24,288.44 lakhs from Rs 34,854.63 lakhs. The auditors issued a qualified opinion citing multiple concerns: SEBI has alleged fictitious transactions and misuse of Rs 4,990 lakhs in rights issue proceeds; trade receivables of Rs 59,370.57 lakhs (nearly 100% of assets) lack ECL assessment; there is a GST demand of Rs 20,684.38 lakhs; and unpaid income tax liabilities exist. The board appointed M/s Mikil Vora & Associates as internal auditor for FY2026-27 and M/s J. M. Patel & Bros. as tax auditor for AY2026-27.
The stock faces significant risk due to ongoing SEBI investigations, going concern doubts raised by auditors, and massive receivables that may be unrecoverable. The qualified opinion and regulatory scrutiny suggest elevated governance risks for shareholders.