To consider and approve the Financial Statements for the quarter and year ended 31st March, 2026
Awaiting price reaction for this filing.
GB Global Ltd (formerly Mandhana Industries) reported consolidated total income of ₹20,997 Lakhs for FY26, down from ₹25,149 Lakhs in FY25 — a revenue decline of ~16.5% YoY. Despite lower revenue, the company posted a PAT of ₹7,843 Lakhs (down from ₹10,615 Lakhs YoY), with consolidated EPS at ₹15.64 per share. The Statutory Auditors, M/s Bhuta Shah & Co. LLP, issued a qualified opinion on both standalone and consolidated financial statements. The qualification relates to unconfirmed and unreconciled balances of trade payables, trade receivables, advances, and GST balances — the management stated it is unable to quantify the impact as the company was acquired under CIRP and continues to suffer from manpower deficiency and limited access to past records. The Board also approved appointments of Cost, Secretarial, and Internal Auditors for FY27.
The qualified audit opinion signals material uncertainty around the reliability of reported asset and liability balances. The revenue decline combined with the auditors' inability to confirm key balance sheet items raises concerns about financial integrity, and investors should monitor the proposed amalgamation with a group company and reconciliation progress.