Re-appointment of Internal Auditor for the FY 2026-27
MUKTAARTS · price
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Mukta Arts reported standalone FY2026 revenue of Rs 1,482.13 lakhs, down ~27% from Rs 2,031.69 lakhs in FY2025, with net profit of Rs 559.26 lakhs (vs Rs 744.05 lakhs), a ~24.8% decline. Consolidated revenue grew 4.3% to Rs 17,390.56 lakhs but the group posted a net loss of Rs 1,180 lakhs (vs loss of Rs 1,731.09 lakhs in prior year). The auditors issued a Qualified Opinion citing material uncertainty related to investment in subsidiary Whistling Woods International Ltd (WWIL), whose net worth is fully eroded due to a pending land dispute with Maharashtra Film, Stage and Cultural Development Corporation. The board also re-appointed Garg Devendra & Associates as internal auditors for FY2026-27 and approved investment of BHD 1,20,000 in Mukta A2 Multiplex W.L.L, a subsidiary.
The qualified auditor opinion and WWIL's eroded net worth raise going concern risks for the consolidated entity. Standalone profit decline reflects operational challenges, though the narrowing consolidated loss is a positive sign. Shareholders should monitor the WWIL litigation outcome closely.