The Board at the its meeting held today : 1. Approved the Annual Financial Results for the quarter and ended March ended March 31, 2026. 2. Approved the Appointment of Internal Auditor.
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Saraswati Saree Depot Ltd reported annual revenue of Rs 6,311.62 million for FY2026, up 4.6% from Rs 6,035.90 million in the prior year. However, profit after tax declined significantly to Rs 234.06 million from Rs 305.76 million, a drop of about 23.5%. EPS fell to Rs 5.89 from Rs 7.72. The statutory auditor issued a qualified opinion citing the company's failure to maintain proper stock records with quantitative details for the fifth consecutive year, though physical inventory counts were conducted. The board also approved appointment of M/s Ajit M. Joshi & Associates as internal auditor for FY2026-27.
The qualified audit opinion raises concerns about internal controls and inventory management practices, while the 23.5% PAT decline despite modest revenue growth signals margin pressure. These factors may negatively impact investor sentiment and could require management action on stock record-keeping systems.