Re-appointment of Cost Auditor of the Company for FY 2026-2027
SHEMAROO · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
The company held a Board meeting on May 16, 2026 approving multiple matters. Key announcements include: (1) Audited financial results showing significant losses - Consolidated net loss of ₹21,862 lakhs for FY2026 vs ₹8,496 lakhs loss in FY2025; Revenue declined to ₹58,306 lakhs from ₹68,510 lakhs. (2) CFO change - Amit Haria resigned effective May 21, 2026 to pursue other career opportunities. (3) New CFO appointed - Ashish Gupta, a Chartered Accountant with 24 years of experience including roles at International SOS and BARC India, effective May 22, 2026. (4) Statutory auditor Mukund M. Chitale & Co. re-appointed for second term of 5 years. (5) Cost auditor Joshi Apte & Associates re-appointed for FY 2026-27. The auditors issued unmodified opinions on the financial statements.
The company is facing significant financial stress with losses more than doubling year-on-year. The CFO transition appears smooth with minimal gap (1 day), suggesting a planned handover. Investors should monitor the new CFO's strategy for turnaround given the substantial operational cost overruns and revenue decline.