ISL Consulting reported a net loss of ₹204.24 lakh for FY26, widening from a loss of ₹173.11 lakh in the previous year. The decline was driven by a 24.7% fall in revenue from operations to ₹1,857.81 lakh. Despite reducing total expenditure to ₹2,067.82 lakh from ₹2,629.70 lakh, the sharper drop in income resulted in a deeper bottom-line hit. Earnings per share stood at (₹0.85), compared to (₹0.72) in FY25.

The board appointed M/s G M C A & Co as statutory auditor for a five-year term covering financial years 2026-27 through 2030-31. This appointment fills the vacancy left by the resignation of M/s Maak & Associates, who served as auditors until August 18, 2026. The firm holds FRN 109850W and specializes in statutory, tax, and internal audits. The board confirmed no relationship exists between the new auditor and company directors, with no material change in proposed fees compared to the outgoing auditors.

Financial Performance

Revenue from operations declined significantly to ₹1,857.81 lakh in FY26 from ₹2,447.24 lakh in FY25. Other income also contracted to ₹6.04 lakh from ₹9.53 lakh. Total income for the year stood at ₹1,863.85 lakh. While total expenditure decreased to ₹2,067.82 lakh from ₹2,629.70 lakh, it remained higher than total income, leading to a loss before tax of ₹203.97 lakh. Tax expenses were minimal at ₹0.28 lakh.

AGM and Corporate Governance

The company scheduled its 34th annual general meeting (AGM) for September 29, 2026, at 2:00 pm via video conferencing. Shareholders must hold records as of September 23, 2026, to participate in e-voting. The register of members will remain closed from September 24, 2026, to September 29, 2026. Anisha Jhunjhunwala was appointed as scrutinizer for the meeting, with National Securities Depository Limited facilitating e-voting services.

The board approved the director’s report, corporate governance report, and management discussion and analysis report for FY26. It also took note of the secretarial audit report for the same period. The AGM agenda includes the re-appointment of Mr. Hiteshkumar Chhaganlal Kothari, who retires by rotation. The decisions were made pursuant to Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

ISL Consulting has announced the resignation of M/s. Maak & Associates as its statutory auditors, effective August 18, 2026. The firm, which holds Chartered Accountant Firm Registration No. 135024W, tendered its resignation due to pre-occupations with other professional assignments and time constraints that limited their ability to devote requisite attention to the audit responsibilities.

The resignation was communicated pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Maak & Associates confirmed that the decision was not driven by any disagreement, qualification, or concern relating to the management, financial statements, accounting practices, internal controls, or compliance matters of ISL Consulting.

Auditor Tenure and Recent Activity

Maak & Associates was appointed as the statutory auditor on September 25, 2025, with a term scheduled to expire on September 24, 2030. Prior to resigning, the firm submitted a limited review report for the standalone unaudited financial results for the quarter ended June 30, 2026, on August 12, 2026.

The auditor stated that there were no instances where information requested was not provided by the company, nor were there any management-imposed limitations on audit evidence. No communication regarding concerns was made to the Audit Committee or Board of Directors prior to the resignation.

Regulatory Compliance

ISL Consulting has attached the necessary annexures required under Regulation 30 read with Schedule III of the Listing Regulations, along with disclosures mandated by SEBI Circulars CIR/CFD/CMD/4/2015 dated September 9, 2015, CIR/CFD/CMD1/114/2019 dated October 18, 2019, and SEBI/HO/CFD/CFDPoD-1/P/CIR/2023/123 dated July 13, 2023. The company is expected to file the requisite forms with the Registrar of Companies and appoint a new statutory auditor in accordance with applicable laws.