Outcomes of Board Meeting
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 4.1 pts less than Nifty Microcap 250 and 3.1 pts less than its Tyres & Rubber Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
Minute windows have no benchmark: there is no intraday index history to compare against.
Tirupati Innovar (formerly Tirupati Tyres) reported unaudited H1 FY26 total income of ₹4,963.81 lakhs versus just ₹45.20 lakhs in H1 FY25, driven entirely by its new 'Agriculture & Others' segment. Profit after tax for H1 FY26 jumped to ₹220.06 lakhs (EPS ₹0.90) from ₹15.95 lakhs a year ago. However, the statutory auditor (Chandabhoy & Jassoobhoy) issued a Disclaimer of Opinion, flagging 7 major issues: no supporting documents for sales/purchase/inventory, missing fixed asset register, unsecured loans without interest or agreements, no MSME creditor bifurcation, unconfirmed trade receivables and payables, unverified loans granted, and unverifiable TDS receivable of ₹18.33 lakhs. The auditor stated these gaps could have a 'material and pervasive impact' on the financial position. Cash flow from operations was negative at ₹(16.35) lakhs for H1 FY26. The books continue to be prepared on a going-concern basis, and the disclaimer is described as repetitive.
The auditor's Disclaimer of Opinion is a serious red flag — it means the financial numbers, despite showing dramatic revenue and profit growth, cannot be relied upon. Investors should treat the headline profit figures with significant caution until supporting documents and confirmations are obtained. The stock carries elevated risk of governance and disclosure concerns.