Halder Venture FY26 profit falls, appoints new auditors
Halder Venture Limited reported a significant decline in financial performance for FY26, with net profit falling to ₹999.52 crore from ₹2,311.95 crore in the previous year, while revenue decreased to ₹45,067.80 crore. The board approved the audited financial results and appointed M/s P. Somani & Co. as the new statutory auditor for a five-year term, alongside J Pal & Co as cost auditor. The auditors highlighted a compliance issue regarding shareholding by subsidiaries, noting that disposal is underway and no financial liability is expected.
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Halder Venture Limited reported a net profit of ₹999.52 crore for the financial year ended March 31, 2026, a decrease from ₹2,311.95 crore in the previous year. Revenue from operations for FY26 stood at ₹45,067.80 crore, compared to ₹77,226.73 crore in FY25. The board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at its meeting held on May 29, 2026.
The board recommended the appointment of M/s P. Somani & Co., Chartered Accountants, as the statutory auditor for a period of five years, subject to shareholder approval. This appointment is effective from the conclusion of the annual general meeting in FY27 until the conclusion of the AGM in FY32, following the completion of the tenure of the current statutory auditor, Sen & Ray, Chartered Accountants. Additionally, the board approved the appointment of J Pal & Co, Cost Accountants, as the cost auditor for FY27 and the reappointment of M/s J Kumar Jain & Associates as the internal auditor for FY27.
M/s P. Somani & Co. is a partnership firm established on April 9, 2010, with its head office in Mumbai and branches in Surat and Bhilwara. The firm carries Firm Registration No. 130819W and provides services including statutory audit, internal audit, bank audits, taxation, and corporate law compliance. J Pal & Co brings over 16 years of experience to the role of cost auditor.
The statutory auditors noted an emphasis of matter regarding the holding of 8,22,654 shares, equivalent to 6.61% of the company, by two subsidiaries, Intellect Buildcon Private Limited and Prakruti Commosale Private Limited. This holding is in contravention of Section 19 of the Companies Act, 2013. The subsidiaries have commenced disposal of these shares, and the company, backed by legal opinion, believes this contravention will not result in financial liability; hence, no provision has been recognized.
| Metric | FY26 (₹ crore) | FY25 (₹ crore) |
|---|---|---|
| Revenue from operations | 45,067.80 | 77,226.73 |
| Total Income | 47,994.25 | 79,786.19 |
| Total Expenses | 46,705.65 | 76,220.65 |
| Net Profit | 999.52 | 2,311.95 |
| EPS (Basic) | 8.04 | 22.93 |
Historical Stock Returns for Halder Venture
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.96% | -3.75% | -11.00% | -19.96% | -19.96% | -19.96% |
What strategic initiatives will Halder Venture implement to reverse the sharp decline in revenue and profitability?
How will the ongoing disposal of shares by subsidiaries impact the company's shareholding structure and corporate governance?
Will the change in statutory auditor lead to any shifts in the company's financial reporting or compliance practices?
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