Regency Ceramics Limited has informed the Exchange regarding appointment of Internal Auditor
REGENCERAM · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Regency Ceramics Limited held its Board meeting on May 30, 2026, approving two key matters. First, M/s. Brahmayya & Co., Chartered Accountants Firm was re-appointed as Internal Auditor for FY 2026-27. Second, the Board approved the Audited Financial Results for FY 2026 showing Total Income of Rs. 4,086.08 Lakhs (up from Rs. 2,576.80 Lakhs in FY2025), but the company recorded a Net Loss of Rs. 2,384.48 Lakhs compared to a Profit of Rs. 225.01 Lakhs in the previous year. The accumulated losses stand at Rs. 12,908.87 Lakhs, resulting in complete erosion of net worth with negative shareholders' funds of Rs. 8,393.88 Lakhs. The company's auditor issued a Qualified Opinion with 8 audit qualifications, including non-provision of employee liabilities, long-pending receivables and payables beyond limitation periods, and inventory valuation concerns. The company is operating under a going concern assumption as it refurbishes its Yanam plant and operates an exclusive manufacturing arrangement in Andhra Pradesh.
This is a highly negative development for shareholders. The company reported heavy losses despite improved revenue, has completely eroded its net worth, carries substantial debt, and faces multiple unresolved audit qualifications. The stock is likely to face significant selling pressure given the auditor's qualified opinion and material uncertainty about the company's ability to continue as a going concern.