City Crops Agro appoints Sarang Shivajirao Chavan & Associates as internal auditor for FY27

City Crops Agro has appointed M/s. Sarang Shivajirao Chavan & Associates as its internal auditor for the financial year 2026-27. The board of directors approved the appointment during a meeting held on June 23, 2026, at the company's registered office in Ahmedabad. The decision was taken pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The appointed firm, M/s. Sarang Shivajirao Chavan & Associates, is a Chartered Accountant firm holding registration number 159649W. The firm specializes in statutory audit, tax audit, internal audit, GST compliance, direct and indirect taxation, advisory services, and company law matters. The appointment aims to strengthen internal controls and ensure regulatory compliance for the company.

Details of Appointment

The following table outlines the key details of the appointment as disclosed in the regulatory filing:

Sr. No.	Particulars	Details
1.	Name	M/s. Sarang Shivajirao Chavan & Associates, Chartered Accountant (FRN: 159649W), Ahmedabad
2.	Designation	Internal Auditor
3.	Reason	Appointment
4.	Date of appointment	23 June, 2026
5.	Brief profile	Professionally driven advisory and assurance firm specializing in Statutory Audit, Tax Audit, Internal Audit, GST Compliance, Direct & Indirect Taxation, Advisory Services, Company Law Matters, and Due Diligence.
6.	Disclosure of relationships	Not Applicable

The company stated that the firm is committed to delivering reliable, ethical, and client-focused solutions. The appointment is effective immediately for the upcoming financial year.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+4.99%	-4.94%	+5.40%	+30.39%	+35.34%	+5.15%

City Crops Agro reported a net loss of ₹393.21 lakh for the financial year ended March 31, 2026, compared to a net profit of ₹247.69 lakh in the previous year. Revenue from operations fell to ₹1,953.94 lakh from ₹5,591.71 lakh in FY25. The decline in financial performance was attributed to the write-down of perishable opening stock-in-trade to nil value, which was destroyed as it became non-saleable. The board approved the audited financial results for the half-year and year ended March 31, 2026, in a meeting held on May 27, 2026.

The company's statutory auditor, V S S B & Associates, issued a qualified opinion on the financial statements. Key qualifications include outstanding income tax liabilities of ₹125.36 lakh for FY23, FY24, and FY25, and an inactive GST registration leading to unfiled returns and unrecognised Reverse Charge Mechanism liabilities. The auditor also noted the absence of an Expected Credit Loss (ECL) policy under Ind AS 109 for assessing trade receivables and advances, and outstanding advances of ₹300.25 lakh towards agricultural land development activities lacking adequate documentation.

Financial Performance

Particulars	Year Ended 31-03-26 (₹ in Lacs)	Year Ended 31-03-25 (₹ in Lacs)
Revenue from Operations	1,953.94	5,591.71
Total Income	1,953.94	5,591.71
Total Expenses	2,347.13	5,333.94
Profit/(Loss) for the Period	(393.21)	247.69
Earnings Per Share (Basic)	(2.41)	1.52

The board also appointed M/s. Jay Pandya & Associates as the Secretarial Auditor for FY26. The meeting was held at the company's registered office in Ahmedabad, and the intimation was submitted to BSE Limited.