Chowgule Steamships appoints auditors for FY27
Chowgule Steamships Limited reported a net loss of ₹14.00 lakh for FY26, reversing from a net profit of ₹128.56 lakh in the previous year, as revenue from operations declined to ₹327.31 lakh. The Board of Directors approved the financial results on May 26, 2026, and appointed M/s. Singavi, Oturkar and Kelkar as Internal Auditors for FY27 while continuing the tenure of M/s. Pranay D. Vaidya and Co. as Secretarial Auditors.
*this image is generated using AI for illustrative purposes only.
Chowgule Steamships Limited reported a net loss of ₹14.00 lakh for the financial year ended March 31, 2026, a reversal from the net profit of ₹128.56 lakh in FY25. Revenue from operations fell to ₹327.31 lakh from ₹388.24 lakh, while total income decreased to ₹583.62 lakh from ₹650.06 lakh. The financial results were approved by the Board of Directors on May 26, 2026, alongside key auditor appointments for FY27.
The Board appointed M/s. Singavi, Oturkar and Kelkar as Internal Auditors for FY27. The firm brings over two decades of experience, including statutory audits for nationalised banks under the Reserve Bank's empanelment and audits for public sector undertakings. Additionally, the Board continued the appointment of M/s. Pranay D. Vaidya and Co. as Secretarial Auditors, a role initially established for a five-year term at the 62nd Annual General Meeting.
For the quarter ended March 31, 2026, the company reported a net loss of ₹86.55 lakh compared to a net profit of ₹21.69 lakh in Q4FY25. Revenue from operations for the quarter stood at ₹87.47 lakh, down from ₹103.05 lakh. Total expenses for the full year increased to ₹491.24 lakh from ₹448.82 lakh, driven by higher other expenses and employee benefit costs.
M/s. M N Chokshi Co LLP, Statutory Auditors, issued an unmodified opinion on the standalone financial results. Key audit matters included transactions with related parties and the evaluation of uncertain tax positions involving long litigations. The auditors confirmed the financial results present a true and fair view in conformity with applicable accounting standards.
The balance sheet as of March 31, 2026, showed total assets of ₹5,349.27 lakh, slightly higher than ₹5,332.10 lakh in the previous year. Equity decreased to ₹4,436.69 lakh from ₹4,451.47 lakh. Cash flow from operating activities resulted in a net outflow of ₹411.96 lakh, while investing activities provided a net inflow of ₹406.45 lakh, largely due to a loan refund of ₹400.00 lakh from a related party.
Financial Performance for FY26
| Metric | FY26 (₹ in Lakhs) | FY25 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations | 327.31 | 388.24 |
| Total Income | 583.62 | 650.06 |
| Total Expenses | 491.24 | 448.82 |
| Profit for the Year | (14.00) | 128.56 |
| Earnings Per Share (Basic) | (0.04) | 0.35 |
Historical Stock Returns for Chowgule Steamships
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -5.14% | -9.24% | -19.15% | +4.25% | -19.18% | +277.80% |
What specific measures will management implement to reverse the decline in revenue and control rising employee benefit costs?
How will the company address the uncertain tax positions highlighted by auditors, and what is the potential financial impact of these long litigations?
Will the company continue to rely on related-party transactions for liquidity, or are there plans to generate positive operating cash flow in FY27?
18
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
