Outcome of the Meeting of the Board of Directors of Tirupati Innovar Limited held today i.e. Friday, February 13,2026
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Tirupati Innovar Limited's Board met on February 13, 2026 and approved the unaudited standalone financial results for Q3 FY26 (quarter ended December 31, 2025). Revenue from operations for the quarter stood at ₹2,100.23 lakhs, down sharply from ₹4,852.85 lakhs in the preceding quarter (Q2 FY26), with a profit after tax of ₹28.42 lakhs versus ₹151.57 lakhs in Q2 FY26. For the nine months ended December 2025, total revenue was ₹6,953.07 lakhs and PAT was ₹248.54 lakhs, with EPS of ₹1.02. Segment-wise, revenue comes entirely from the 'Agriculture & Others' segment, reflecting a clear pivot from the old tyres business. Importantly, the statutory auditor (Chandabhoy & Jassobhoy) issued a Disclaimer of Opinion citing going-concern doubts, missing documentation for sales/purchases/receivables, undocumented interest-free unsecured loans, non-disclosure of MSME creditor bifurcation, and unverified TDS receivables.
Despite posted profits, the auditor's disclaimer on going-concern and multiple documentation gaps is a serious red flag that could weigh on the stock and investor confidence. The QoQ drop in revenue and profit, combined with the Company Secretary's sudden resignation just days before the board meeting, adds to governance concerns shareholders should watch closely.