ISL Consulting Limited has appointed M/s G M C A & Co., Chartered Accountants, as its Statutory Auditor for a term of five consecutive financial years, from FY27 to FY31. The appointment was approved by shareholders during the company's 34th Annual General Meeting held on September 29, 2026.

The Board of Directors initially recommended this appointment in a meeting held on August 31, 2026. The firm, bearing FRN 109850W, will replace the previous auditor following the conclusion of their tenure. The appointment complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

AGM proceedings and key resolutions

The 34th Annual General Meeting was conducted via video conferencing, commencing at 2:00 pm and concluding at 2:21 pm. Mr. Rohit Rawat, Company Secretary and Compliance Officer, confirmed the requisite quorum was present in compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India circulars regarding virtual meetings.

Mr. Vidhyesh Gautamkumar Dalwadi, Chairman, briefed members on the review of business, noting that while the capital market environment remains unpredictable, management continues to monitor changing market conditions and trends actively.

The following ordinary businesses were recommended for consideration and approval:

• Adoption of Audited Standalone Financial Statements for FY26, including the Balance Sheet as at March 31, 2026, and the Statement of Profit and Loss for the year ended on that date.
• Appointment of Mr. Hitesh Kumar Chhaganlal Kothari (DIN: 01217705) as Director, who retires by rotation and offers himself for re-appointment.
• Approval of appointment of M/s G M C A & Co., Chartered Accountants (FRN: 109850W) as Statutory Auditors for FY27-FY31.

Director re-appointment details

Pursuant to Regulation 36(3) of the SEBI LODR Regulations, 2015, Mr. Hitesh Kumar Chhaganlal Kothari was re-appointed as Director following his retirement by rotation. Mr. Kothari is described in the disclosure as a young and dynamic businessman with in-depth knowledge of financial and commodity markets. He leads the company with experience in the financial market field.

Regarding relationships, Mr. Kothari is the brother of Mrs. Reema A. Shah, Director, and brother-in-law of Mr. Ankit J. Shah, Managing Director. He holds no directorships or committee memberships in other listed companies.

Auditor profile and details

M/s G M C A & Co. is a Chartered Accountancy firm with experience in Statutory Audit, Tax Audit, Stock Audit, Internal Audit, and Fraud Risk Assessment. The firm provides independent audit services aimed at offering assurance to stakeholders while maintaining objectivity and strict compliance with auditing and accounting standards. They also assess and strengthen risk management, control, and governance processes.

Voting and compliance details

The company provided an e-voting facility through National Securities Depository Limited (NSDL). Remote e-voting commenced at 9:00 am on September 26, 2026, and ended at 5:00 pm on September 28, 2026. Members who did not vote remotely were given a 15-minute window during the AGM to cast their votes.

Ms. Anisha Jhunjhunwala and Associates, Practicing Company Secretaries, were appointed as Scrutinizers to ensure fair and transparent voting scrutiny. The results of the voting will be announced within two working days from the conclusion of the meeting and placed on the company website.

Auditor and secretarial observations

The Auditors' Report for FY26 did not contain any qualifications, observations, or comments with an adverse impact on the company's functioning. However, the Secretarial Audit Report contained certain self-explanatory observations which were part of the Annual Report. These reports were taken as read with shareholder permission.

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.