Libas Consumer Products Limited’s Board approved audited financial results for the quarter and financial year ended March 31, 2026, alongside a proposal to raise funds through a rights issue of equity shares for an aggregate amount not exceeding ₹14.50 crore. The meeting, held on June 2, 2026, also addressed governance matters including the appointment of an internal auditor and a proposed increase in authorised share capital to support expansion.

The rights issue involves equity shares with a face value of ₹10 each, offered to eligible shareholders as on a record date to be notified subsequently. The precise terms, including the ratio and price, will be determined by the Board or the Rights Issue Committee. The issuance is subject to regulatory approvals under the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013.

Governance and Appointments

The Board appointed M/s. Sabadra & Associates, Chartered Accountants as the Internal Auditor for the financial year 2026-2027, effective June 2, 2026. This appointment follows the recommendation of the Audit Committee and complies with SEBI regulations. The firm provides services including risk advisory, financial advisory, and audit & assurance.

To facilitate the rights issue, the Board constituted a Rights Issue Committee comprising Mr. Riyaz Ganji, Mr. Nishant Mahimtura, and Mr. Ashish Dubey. Additionally, M/s SARK & Associates LLP, Company Secretaries, were appointed as the scrutinizer to conduct the postal ballot for seeking shareholder approval.

Capital Structure Changes

The Board proposed increasing the authorised share capital from ₹28 crore to ₹40.60 crore, subject to member approval. A postal ballot notice has been issued to seek this approval. Detailed procedures for the rights issue will be outlined in the Letter of Offer dispatched to eligible shareholders.

Key Board Decisions

Libas Consumer Products Limited has appointed M/s Sabadra & Associates, Chartered Accountants as its internal auditor for the financial year 2026-2027. The appointment, effective from June 2, 2026, was approved by the Board of Directors based on the recommendation of the Audit Committee. The firm is not related to any directors of the company.

Appointment Details

The decision was taken during a board meeting held on June 2, 2026. M/s Sabadra & Associates replaces the previous incumbent and will serve for the duration of the upcoming financial year.

Firm Profile

M/s Sabadra & Associates is a professional firm providing consulting and advisory services. Its offerings include Risk Advisory, Consulting, Financial Advisory, Tax, and Audit & Assurance Services. The firm utilizes a team with domain expertise and a robust audit process to ensure compliance with regulatory and accounting requirements.