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The board approved unaudited Q1 FY26 results (quarter ended June 30, 2025) showing a net loss of Rs. 14.89 lakhs, significantly narrowed from Rs. 1,192 lakhs loss in Q1 FY25. M/s AM S & Co, Chartered Accountants, ceased as statutory auditor after completing their full 5-year term (a routine rotation, not a midterm exit). M/s Motilal & Associates LLP was appointed as the new statutory auditor for a 5-year term covering FY 2025-26 to 2029-30, subject to shareholder approval at the upcoming AGM. The 31st Annual General Meeting was fixed for September 22, 2025, to be held via video conferencing.
The auditor change is purely a routine statutory rotation after term completion — no red flag for governance. Financials remain weak with negative other equity of Rs. 3,554.67 lakhs, but the sharp narrowing of quarterly losses is a modest positive signal.