REAPPOINTMENT OF M/S GARV &ASSOCIATES ,CHARTERED ACCOUNTANT S(FIRM REG NO. 301094E) AS STATUTORY AUDITOR FOR THE SECOND CONSEQUTIVE TERM OF 5 YERAS
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Warren Tea Limited's Board of Directors, at its meeting on May 25, 2026, approved the reappointment of M/s Garv & Associates (Firm Reg No. 301094E) as Statutory Auditors for a second consecutive term of 5 years, from the conclusion of the 49th AGM until the 54th AGM. The company also reported audited financial results for Q4 and year ended March 31, 2026. For the standalone results, the company reported a loss before tax of ₹370 lakhs compared to a profit of ₹146 lakhs in the previous year. Other income declined to ₹169 lakhs from ₹446 lakhs. The consolidated loss before tax was also ₹370 lakhs. The auditors issued an unmodified opinion on the financial statements. The 49th AGM is scheduled for September 16, 2026.
The reappointment of the same auditor for another 5-year term indicates continuity in audit governance. However, the significant decline in other income and shift from profit to loss may concern shareholders about the company's financial health.