The Board considered and approved the appointment of Internal Auditors for the financial year 2026-27
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Virat Leasing Ltd's board approved audited financial results for FY 2025-26 and appointed M/s. Srimal Jain & Co. as the new Internal Auditor for FY 2026-27. The company reported a net loss of Rs. 72.94 Lakhs, significantly worse than the previous year's loss of Rs. 30.17 Lakhs. Revenue from operations declined to Rs. 86.54 Lakhs from Rs. 92.89 Lakhs. The statutory auditor issued an unmodified (clean) opinion, confirming no material concerns with the financial statements. Related party transactions for H2 FY 2025-26 were also approved. Operating cash flow turned negative at Rs. 34.36 Lakhs, raising concerns about liquidity.
The widening net loss and negative operating cash flow are concerning for shareholders. The clean audit opinion provides some comfort, but the financial performance indicates the company is struggling. The appointment of a new internal auditor may lead to more rigorous internal controls going forward.