Ajwa Fun World & Resort Limited announced the resignation of its Secretarial Auditor, M/s. V. N. Vasani & Associates, effective October 17, 2026. The firm cited pre-occupation with other professional assignments as the sole reason for stepping down from the role.

The resignation was tendered by CS Vivek Vasani, Proprietor of M/s. V. N. Vasani & Associates, through a letter dated October 17, 2026. The auditor confirmed that there were no material reasons for the departure beyond the stated workload constraints and expressed no concerns regarding the management or affairs of the company.

Regulatory Compliance and Next Steps

The company filed an intimation under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This disclosure aligns with the requirements set forth in SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

The Audit Committee and Board of Directors will now proceed to appoint a new Secretarial Auditor in due course. This appointment must comply with Section 204 of the Companies Act, 2013, and Regulation 24A of the Listing Regulations. The company stated it would intimate the exchange once the new appointment is finalized.

Auditor Details and Confirmations

The following details regarding the outgoing Secretarial Auditor were disclosed in Annexure A of the filing:

CS Vivek Vasani further confirmed that there are no disputes, differences, or pending issues between him and the company. He also stated he has no objection to the appointment of any other Practicing Company Secretary as the new Secretarial Auditor for Ajwa Fun World & Resort Limited.

Ajwa Fun World & Resort Limited reported a standalone net profit of ₹4,924.4 lakh for the fiscal year ended March 31, 2026, a significant increase from the ₹29.9 lakh profit recorded in FY25.

The company’s board of directors approved the audited financial results in a meeting held on May 29, 2026. The results were reviewed by the audit committee and received an unmodified opinion from statutory auditors SPVP & Co LLP.

Financial Performance

For the full year, total income from operations stood at ₹61.7 lakh, down sharply from ₹310.0 lakh in the previous year. Net sales were nil for FY26, compared to ₹270.2 lakh in FY25. Other operating income contributed ₹61.7 lakh to the top line.

Total expenses decreased to ₹88.7 lakh from ₹205.3 lakh in FY25. Employee benefits expense fell to ₹47.8 lakh from ₹70.1 lakh, while other expenses dropped to ₹38.2 lakh from ₹75.7 lakh. Finance costs remained stable at ₹2.6 lakh.

The company recorded an operating loss of ₹27.0 lakh for the year, contrasting with an operating profit of ₹104.7 lakh in FY25.

What the Numbers Show

The surge in net profit was entirely non-operational. Exceptional items contributed ₹5,431.4 lakh to the bottom line, primarily from gains on the sale of assets. Without this one-time gain, the company would have reported a net loss before tax of approximately ₹27 lakh. This indicates that core operational profitability remains under pressure, with net sales dropping to zero while reliance on asset liquidation drove the reported earnings.

Balance Sheet & Cash Flow

As of March 31, 2026, total assets rose to ₹5,389.1 lakh from ₹1,285.3 lakh in the prior year. This increase was driven by a rise in other non-current assets to ₹3,757.3 lakh from ₹103.6 lakh, and loans and advances increasing to ₹837.3 lakh from ₹170.5 lakh. Property, plant, and equipment declined significantly to ₹13.7 lakh from ₹187.0 lakh, reflecting the asset sales.

Cash and cash equivalents increased to ₹18.0 lakh from ₹8.4 lakh. Total equity improved to ₹4,736.6 lakh from a deficit of ₹187.8 lakh, aided by the retention of profits. Long-term borrowings reduced to ₹92.1 lakh from ₹431.5 lakh.

Corporate Actions

The board also reappointed Akash Shah & Associates as the internal auditor for the financial year 2026-27. The firm has been practicing for over five years with expertise in taxation and internal audits.