Mitshi India Limited reported a standalone net profit of ₹12.81 lakh for the financial year ended March 31, 2026, with total turnover reaching ₹277.48 lakh. The company’s statutory auditors, S D P M & Co., issued a qualified opinion on the annual audited financial results, raising concerns regarding the high volume of cash transactions in its agriculture trading business and the lack of external confirmation for outstanding trade balances. Despite the qualification, management maintained that the findings do not materially affect the reported financial position.

The filing was submitted to BSE Limited pursuant to Regulation 33/52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Kumar Shah, Managing Director, signed off on the statement along with Malay Pandit, Partner at S D P M & Co., who served as the statutory auditor. The audit report highlights two primary areas of concern: the reliance on Goods and Services Tax (GST) returns for verifying turnover due to non-banking sales transactions, and the inability to obtain independent confirmation for trade receivables, payables, and unsecured loans.

Financial Performance Overview

The company’s financial metrics for FY26 remained stable, with no adjustments required to the audited figures despite the qualified opinion. Total expenditure stood at ₹264.67 lakh, resulting in earnings per share of ₹0.01. The balance sheet reflected total assets of ₹321.89 lakh against total liabilities of ₹49.10 lakh, yielding a net worth of ₹272.79 lakh.

Audit Qualifications and Management Response

The qualified opinion stems from operational characteristics inherent to Mitshi India’s business model. The auditors noted that the company’s trading of agriculture products involves substantial cash transactions, including cash sales, purchases, expenses, receipts from debtors, and payments to creditors. Due to the prevalence of non-banking sales, the auditors relied on GST returns filed by the company to verify turnover rather than traditional banking trails.

Additionally, outstanding balances for trade receivables, trade payables, and unsecured loans were subject to confirmation from concerned parties, which remained incomplete. However, management asserted that these documentary gaps do not distort the financial reality. Kumar Shah stated that the amount outstanding from trade receivables is recoverable and that the qualification regarding documentary evidence has no impact on the financial statements. Consequently, the adjusted figures remain identical to the audited figures across all key metrics.

Mitshi India Ltd has appointed Mrs. Rekha Rani Naraniwal as an Additional Non-Executive Independent Director effective July 22, 2026. The appointment was approved by the Board of Directors in its meeting held on July 22, 2026, on the recommendation of the company's Nomination and Remuneration Committee. This decision is subject to the approval of the shareholders.

Mrs. Rekha Rani Naraniwal (DIN: 08467886) is a resident of India and a member of the Institute of Company Secretaries of India (ICSI). She brings 15 years of professional experience to the role, including nine years specifically in legal, listing, and secretarial compliance. The company confirmed that she is not related to any of the existing directors.

The disclosure was made to BSE Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also confirmed that Mrs. Naraniwal is not debarred from holding the office of director by any order passed by SEBI or any other authority, pursuant to BSE Circular No. LIST/COMP/14/2018-19 dated June 20, 2018.

Key Details of Appointment