PFA THE OUTCOME OF BOARD MEETING FOR REAPPOINTMENT OF INTERNAL AUDITOR
Awaiting price reaction for this filing.
MPS Pharmaa Limited held a board meeting on May 28, 2026, approving standalone audited financial results for Q4 and FY ended March 31, 2026. The company reported total income of just Rs. 3.56 Lacs with a net loss of Rs. 101.22 Lacs for the year. Critically, the statutory auditors issued a QUALIFIED opinion due to two issues: Rs. 53.80 Lacs in investments where share certificates are lost/misplaced and fair value was not determined per Ind AS, and Rs. 2.41 Crore in stalled capital work-in-progress requiring impairment evaluation. The company has not earned income from business operations for a long time. Additionally, BSE suspended trading due to unpaid listing fees since FY 2021-22, with trading now restricted to once weekly on Trade-for-Trade basis. The board re-appointed M/s Sanghi & Co. as Internal Auditor for FY 2026-27.
The company is financially distressed with negative net worth and repeated audit qualifications since 2017-18. Trading restrictions and ongoing losses signal high risk for shareholders. The reappointment of the internal auditor is routine and not a concern.