Approval of the Audited Standalone and Consolidated Results for the Financial Year and Quarter ended March 31, 2026; Re-appointment of Internal Auditor; Resignation of Mr. Gourav Modi as ....
ORIENTTECH · price
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Orient Technologies Ltd held its Board Meeting on May 27, 2026, approving audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. Standalone revenue grew marginally to Rs 86,493.19 lakhs from Rs 83,953.06 lakhs in the previous year, but profit after tax dropped significantly to Rs 278.81 lakhs from Rs 5,043.65 lakhs due to exceptional write-offs. The company recorded a loss in Q4 FY2026 due to the loss of a major customer, leading to write-off of Rs 2,368.33 lakhs as an exceptional item. Finance costs quadrupled to Rs 512.07 lakhs and depreciation more than doubled to Rs 1,365.40 lakhs. The CFO, Mr. Gourav Modi, resigned effective June 25, 2026, citing personal reasons. The company also re-appointed M/s Santosh Ghag & Co. as internal auditors and completed acquisitions of Red Hut Innovation (100% stake) and stakes in AIT Internet Services and Athena IT & Telecom (46% each).
The significant decline in profitability and CFO resignation may create short-term uncertainty for investors. The exceptional write-offs and higher operating costs indicate near-term margin pressure, though the acquisitions may support future revenue growth.