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.

ISL Consulting turned profitable in the first quarter of FY27, reporting a standalone net profit of ₹296.24 lakh for the quarter ended June 30, 2026. This marks a significant reversal from the net loss of ₹282.18 lakh recorded in the same period of FY26. The Board of Directors approved the unaudited financial results at its meeting held on August 12, 2026.

Financial Performance

Despite the improvement in profitability, total income from operations contracted during the quarter. The company logged revenue of ₹293.72 lakh, a decline from ₹332.87 lakh in Q1FY26. For the full financial year ended March 31, 2026, total income stood at ₹1,863.85 lakh, against which the company reported a net loss of ₹204.24 lakh.

Earnings per share (EPS) rose to ₹1.23 in Q1FY27, compared to ₹0.52 in the previous year's corresponding quarter. Diluted EPS remained consistent with basic EPS at ₹1.23.

What the Numbers Show

The divergence between declining revenue and surging profitability suggests a material shift in cost structures or margin dynamics. While top-line growth contracted by nearly 12%, pre-tax profits more than doubled year-on-year. This indicates that the company likely reduced operational expenses or benefited from improved efficiency ratios, allowing it to generate higher margins on a smaller revenue base compared to Q1FY26.

Corporate Governance

The financial results were filed in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Ankit J. Shah, Managing Director, signed off on the results. The equity share capital remains unchanged at ₹1,200.00 lakh.