HS India Limited has appointed M/s. R. M. Hariyani & Co., Chartered Accountants, as its new statutory auditors for a term of five consecutive years, effective from the conclusion of its 37th Annual General Meeting (AGM) on September 11, 2026. The Board of Directors approved the appointment at a meeting held on August 6, 2026, replacing the outgoing statutory auditor, M/s. K. K. Haryani & Co., whose tenure expires due to mandatory rotation under the Companies Act, 2013. The new appointment is subject to shareholder approval at the upcoming AGM.

The decision follows recommendations from the company’s Audit Committee and ensures continuity in financial oversight while complying with regulatory requirements for auditor rotation. M/s. R. M. Hariyani & Co., based in Bharuch, holds Firm Registration Number 147657W with the Institute of Chartered Accountants of India (ICAI). The firm was established in 2018 and is led by CA Rajiv M. Hariyani, who possesses over five years of experience in statutory audits, tax audits, and GST compliance. The firm holds a valid peer-reviewed certificate and currently audits several listed entities in India.

Auditor Transition Details

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. Hitesh Gopalbhai Limbani, Company Secretary of HS India Limited, issued the intimation to the Bombay Stock Exchange on August 6, 2026. The company confirmed that no relationship exists between the incoming auditor and the directors, ensuring independence in financial reporting.

Regulatory Compliance and Next Steps

The transition aligns with statutory mandates requiring listed companies to rotate their statutory auditors after a maximum continuous period of five years. This mechanism is designed to mitigate familiarity threats and enhance audit quality. The Board’s approval marks the first step in the appointment process; final ratification requires shareholder consent at the 37th AGM scheduled for September 11, 2026.

HS India Limited has published the intimation on its official website, www.hsindia.in , ensuring transparency for investors and stakeholders. The company did not disclose any additional changes in audit scope or fees in this filing. The seamless transition between auditors reflects standard corporate governance practices aimed at maintaining robust financial oversight.

HS India Limited reported a 138.24% year-on-year increase in net profit for the quarter ended June 30, 2026 (Q1FY27), reaching ₹29.78 lakh from ₹12.50 lakh in the corresponding period of FY26. The strong profitability turnaround was driven by a 41.9% surge in revenue from operations to ₹842 lakh, which outpaced the 34.3% growth in total expenses to ₹800.97 lakh. This performance underscores improved operational leverage in its hotelier segment, with earnings per share rising to ₹0.18 from ₹0.08 in the previous year.

The Board of Directors approved the standalone unaudited financial results during a meeting held on August 6, 2026. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, K. K. Haryani & Co., Chartered Accountants, in accordance with Standard on Review Engagement (SRE) 2410. The filing was submitted pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance Highlights

Revenue from operations climbed to ₹842 lakh in Q1FY27, up from ₹593.38 lakh in Q1FY26. Other income declined slightly to ₹8.33 lakh from ₹16.45 lakh, resulting in total revenue of ₹850.33 lakh. Total expenses increased to ₹800.97 lakh from ₹597.33 lakh, primarily due to higher purchases of stock-in-trade and other operating expenses.

Operational Insights

The company’s single operating segment, "Hotelier," demonstrated resilience with significant top-line growth. Cost of materials consumed rose to ₹70.31 lakh from ₹29.49 lakh, while employee benefits expense increased to ₹166.02 lakh from ₹142.94 lakh. Finance costs decreased marginally to ₹23.02 lakh from ₹34.59 lakh, contributing positively to the bottom line. Other operating and general expenses, including power and fuel, stood at ₹326.81 lakh, up from ₹261.67 lakh in the prior year quarter.

What the Numbers Show

The divergence between revenue growth (41.9%) and expense growth (34.1%) indicates improved operational efficiency in Q1FY27. While absolute costs rose due to higher activity levels, the faster pace of revenue generation expanded the pre-tax profit margin significantly. The reduction in finance costs further amplified this effect, allowing net profit to more than double despite a decline in other income.

Corporate Actions

Alongside the financial results, the Board fixed the date for the 37th Annual General Meeting (AGM) to be held on Friday, September 11, 2026, at 10:30 a.m. via Video Conferencing and Other Audio Visual Means. The Board also considered and approved the Board’s Report along with annexures for the financial year ended March 31, 2026. The unaudited results are available on the company’s website and the BSE Limited portal.