Indo Us Bio-Tech Limited has restructured its audit oversight by appointing M/s. Bhagat & Associates as its statutory auditor, effective June 16, 2026. The Board of Directors approved this appointment during its meeting held on June 16, 2026, following the resignation of the previous auditor. The appointment is subject to shareholder approval and remains valid until the conclusion of the next General Meeting.

M/s. Gautam N Associates, Chartered Accountants (FRN: 103117W), tendered their resignation as statutory auditor effective June 15, 2026. The firm cited administrative and operational restructuring of the company's audit assignments as the reason for cessation. The resignation letter confirmed there were no material reasons other than those stated and noted the company's intent to optimize logistical efficiencies by appointing an auditor based closer to its registered office in Ahmedabad.

M/s. Bhagat & Associates, Chartered Accountants (FRN: 101100W), has been appointed to fill the vacancy. The firm confirmed its eligibility and consent for the role, stating there are no proceedings pending against it or its partners regarding professional conduct. The firm also confirmed it has no relationship with the company's directors or key managerial personnel. The appointment aligns with Section 139 of the Companies Act, 2013 and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Auditor Changes

The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and SEBI Circular No. CIR/CFD/CMD1/114/2019 dated October 18, 2019. Ms. Dimpy Joshi, Company Secretary & Compliance Officer, signed the regulatory filing.

Indo Us Bio-Tech Limited reported a 19.3% decline in net profit to ₹1,312.29 lakh for the financial year ended March 31, 2026, despite a 6.4% rise in revenue from operations to ₹11,049.33 lakh. The company’s Board of Directors approved the standalone audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 29, 2026.

For the quarter ended March 31, 2026, the company recorded a net profit of ₹197.17 lakh, a decrease from ₹368.48 lakh in the corresponding period of the previous year. Revenue from operations for the quarter stood at ₹2,604.62 lakh, compared to ₹3,350.41 lakh in the same period last year. Total income for the year was ₹11,049.33 lakh, up from ₹10,402.04 lakh in the prior year.

Financial Performance

The company’s earnings per share (EPS) for the year ended March 31, 2026, stood at ₹6.54, down from ₹8.11 in the previous year. Finance costs for the year increased to ₹224.33 lakh from ₹148.82 lakh in FY25. The statutory auditors, Gautam N Associates, expressed an unmodified opinion on the standalone financial results.

Balance Sheet and Cash Flows

The company’s total assets as of March 31, 2026, stood at ₹13,309.67 lakh, an increase from ₹9,784.27 lakh in the previous year. Inventories rose significantly to ₹9,905.37 lakh from ₹7,068.64 lakh. Cash and cash equivalents improved to ₹612.30 lakh from ₹24.78 lakh. The company reported that no dividend was declared or proposed for the year ended March 31, 2026.

Net cash from operating activities for the year was negative at ₹(1,258.06) lakh, compared to ₹141.93 lakh in the previous year. The company utilized ₹150.01 lakh in investing activities and generated ₹1,995.59 lakh from financing activities. The auditors noted that confirmations for certain trade receivables, payables, and loans were yet to be received.