Wardwizard Foods & Beverages Limited's statutory auditor, M/s Mahesh Udhwani & Associates, resigned effective May 14, 2026, citing an inability to discharge professional responsibilities due to the non-receipt of required information and records. The firm stated that despite repeated requests, the necessary documents were not provided in a timely manner, constraining their audit functions. The resignation creates a casual vacancy that the company must fill to ensure continued regulatory compliance.

The auditor, M/s Mahesh Udhwani & Associates, was initially appointed on August 1, 2022, and reappointed at the Annual General Meeting (AGM) on September 27, 2022. The term was scheduled to expire on March 31, 2027. Prior to the resignation, the firm had submitted the audit report dated May 30, 2026, for the standalone financial statements and financial results for the year ended March 31, 2026.

Wardwizard Foods & Beverages Limited acknowledged the resignation in a filing to BSE Limited on June 18, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company attributed the delay in submitting this disclosure to an inadvertent administrative oversight and clarified there was no intention to withhold material information. It confirmed that steps would be taken to appoint a new statutory auditor to fill the vacancy.

Auditor Details

The company will intimate the stock exchange regarding the appointment of the new statutory auditor in due course.

Wardwizard Foods and Beverages Limited returned to profitability in the financial year ended March 31, 2026, driven by a significant surge in revenue from operations. The company reported a net profit of ₹1.31 crore for FY26, a reversal from the net loss of ₹13.69 crore recorded in the previous year. This turnaround was supported by a robust expansion in sales, which reached ₹237.73 crore, marking a substantial increase from the ₹92.78 crore achieved in FY25.

The financial performance for the fourth quarter of FY26 also reflected strong momentum, with the company posting a net profit of ₹2.98 crore. Revenue for Q4FY26 stood at ₹40.45 crore, while total income for the quarter was ₹41.21 crore. The operating profit margin (OPM) for the quarter improved to 13.15%, up from 6.89% in the same period of the previous year.

Financial Performance Overview

The company's balance sheet as of March 31, 2026, showed total assets of ₹204.30 crore, a significant increase from ₹136.22 crore in the prior year. This growth was largely attributed to a rise in current assets, which increased to ₹119.92 crore from ₹47.07 crore. Equity share capital remained constant at ₹25.71 crore, while total equity stood at ₹81.61 crore.

Strategic Outlook

Wardwizard Foods continues to leverage its manufacturing infrastructure and export-focused strategy to capitalize on global demand for Indian convenience foods. The company operates through its flagship brands, QuikShef and WOL, serving retail, HORECA, and export markets. Management has identified the CIS region, Europe, and Africa as key export frontiers, aiming to multiply export turnover significantly over the next three years.

The company's market data indicates strong growth potential in categories such as sauces, mayonnaise, dips, ready-to-eat foods, and frozen foods. With certifications including FSSAI, BRCGS, HALAL, USFDA, and FSSC 22000, the firm is positioned to meet global food safety standards and scale its international operations.