Om Freight Forwarders Limited has informed the Exchange regarding Appointment of M/s. Gala & Associates, CharteredAccountants as Other of the company w.e.f. May 27, 2026.
OMFREIGHT · price
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Om Freight Forwarders Limited held its Board Meeting on May 27, 2026, and approved the audited financial results for Q4 and FY ended March 31, 2026. The company reported consolidated revenue of Rs. 476.92 Crores, a slight decline from Rs. 490.14 Crores in FY25. Profit after tax dropped significantly to Rs. 16.04 Crores from Rs. 22.02 Crores in the previous year, representing a ~27% decline. The company completed its IPO in October 2025, raising Rs. 24.44 Crores. M/s. Gala & Associates was re-appointed as Internal Auditor for FY 2026-27. The company also disclosed that its Company Secretary, Mr. Hiren Bhanushali, vacated office from February 14, 2026. Additionally, the company's investment in a Norway-based entity was sold, with a resultant loss of Rs. 3.63 Crores recognized in Other Comprehensive Income.
The significant decline in profitability despite IPO proceeds is a concern for investors. The Company Secretary's departure adds to governance concerns, and the company is filing a statement of deviation for IPO fund utilization, which may attract regulatory scrutiny.