Som Distilleries & Breweries Limited has informed the Exchange regarding Resignation of Mayank Agarwal as Other of the company w.e.f. May 30, 2026.
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Som Distilleries & Breweries Limited held its Board meeting on May 30, 2026 where several key matters were addressed. The company approved its audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. Standalone net profit declined to Rs 2,398.97 lakh from Rs 5,743.92 lakh in the previous year, while consolidated net profit dropped significantly to Rs 1,035.77 lakh from Rs 10,408.77 lakh. The meeting also noted half-yearly related party transactions. In a notable change, Mr. Mayank Agarwal (M/s Sobhani & Agarwal) resigned as Internal Auditor effective May 30, 2026, and was replaced by CA. Shubham Bhattacharya (S Bhattacharya & Associates). The auditors issued an unmodified opinion, and the financial results were prepared on a going concern basis despite ongoing license renewal process for the Bhopal plant.
The significant decline in profitability for FY2026, combined with the mid-term change in internal auditor, could raise concerns among investors about the company's financial health and internal control environment. The license renewal for the Bhopal plant remains a key operational risk to monitor.