IF Enterprises Limited reported a net loss of ₹342.79 lakh for the financial year ended March 31, 2026, reversing the net profit of ₹288.43 lakh recorded in FY25. Revenue from operations rose to ₹7110.14 lakh from ₹6848.16 lakh in the previous year. The board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 27, 2026. The company's statutory auditors, Chandabhoj & Jassoobhoy Chartered Accountants, issued a disclaimer of opinion on the standalone financial results due to the inability to obtain sufficient appropriate audit evidence regarding sales, purchases, inventory valuation, and trade receivables.

Financial Performance

For the quarter ended March 31, 2026, the company reported a net loss of ₹919.40 lakh on a total revenue of ₹2917.43 lakh. In comparison, the corresponding quarter in the previous year saw a net profit of ₹259.52 lakh on revenue of ₹2227.49 lakh. Total expenses for the quarter increased significantly to ₹4030.76 lakh from ₹1879.93 lakh in the prior year quarter. The full-year figures show a widening of losses compared to the net profit of ₹288.43 lakh recorded in FY25.

Audit Qualifications and Key Observations

The auditors highlighted several material issues preventing them from expressing an opinion on the financial results. Key disclaimers include the absence of satisfactory supporting documents for the completeness of sales and purchase transactions, unavailability of a fixed assets register, and unsecured loans without charged interest or relevant agreements. Additionally, the company failed to provide bifurcation of trade payables under the MSMED Act, and trade receivables remained unconfirmed by debtors. The auditors noted that advances to suppliers were also unconfirmed, raising concerns about the reliability of liabilities and assets.

Consolidated Results

On a consolidated basis, the company reported a net loss of ₹367.56 lakh for FY26, with total revenue at ₹7332.78 lakh. The auditors similarly issued a disclaimer of opinion on the consolidated financial results, citing issues such as the lack of GST reconciliation, absence of warehouse facilities or goods inward reports, and unconfirmed sales transactions lacking E-Way Bills. The consolidated results include the financials of subsidiary Yamunashtakam Tradeventures Private Limited, for which updated audited information was not provided.

IFL Enterprises Limited has successfully completed the dispatch of its postal ballot notice on April 13, 2026, following the board meeting conclusions from April 09, 2026. The company has initiated the e-voting process for member approval on two critical director appointments, with comprehensive voting arrangements through Central Depository Services (India) Limited.

Postal Ballot Notice Dispatch and E-voting Timeline

The company completed dispatch of postal ballot notices to all eligible members on Monday, April 13, 2026, whose names appear in the Register of Members as on the cut-off date. The e-voting facility has been arranged through Central Depository Services (India) Limited to ensure transparent and efficient voting procedures.

Director Appointments Seeking Shareholder Approval

The postal ballot seeks member approval for two director appointments, both effective from December 13, 2025. The resolutions require different voting thresholds based on their nature and regulatory requirements.

Executive Director Appointment Details

Independent Director Appointment Details

Scrutinizer and Compliance Framework

The board has appointed Vishakha Agrawal and Associates, Practicing Company Secretaries, as scrutinizer for conducting the postal ballot through remote e-voting process. The appointment ensures fair and transparent voting procedures in compliance with Section 110 of the Companies Act, 2013, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Both director appointees have been declared free from any debarment orders by SEBI or other regulatory authorities.

E-voting Process and Member Guidelines

Members holding shares in physical or dematerialized form as on April 10, 2026, can participate in the e-voting process. The company has provided comprehensive instructions for e-voting through various platforms including CDSL Easi/Easiest facility and NSDL IDeAS services. The voting results will be announced within 2 working days from the conclusion of e-voting period, with the scrutinizer's report being communicated to BSE Limited and displayed on the company's website.

The announcement was communicated by Didawala Akshay Kumar Shailendra, Managing Director & CFO (DIN: 11121864), from the company's registered office at Office No. 412, 4th Floor Shilp Zaveri, Samruddhi Soc., Nr. Shyamal Cross Road, Satellite, Ahmedabad - 380015.