Monind Limited has appointed M/s VGG & Co. as its internal auditor and M/s Sanjay Grover & Associates as its secretarial auditor for the financial year 2026-27. The Board of Directors approved these appointments during a meeting held on August 13, 2026.

The board meeting commenced at 12:30 pm and concluded at 2:15 pm. The appointments are part of the company's routine compliance obligations under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Appointments

The company engaged two firms to oversee its internal controls and secretarial compliance for the upcoming fiscal year.

M/s VGG & Co., Chartered Accountants, holds Firm Registration No. 031985N. The firm specializes in internal audits, system audits, and management audits. Its team comprises multi-disciplinary professionals experienced in converting operational challenges into effective audit outcomes.

M/s Sanjay Grover & Associates, Company Secretaries, holds Firm Registration No. P2001DE052900. Established in 2001, the firm offers corporate consultancy, legal compliances, board management, and secretarial audits. It is registered with the Institute of Company Secretaries of India and holds a valid Peer Review Certificate. The firm has experience dealing with regulatory authorities including the Registrar of Companies, National Company Law Tribunal, Ministry of Corporate Affairs, Competition Commission of India, SEBI, Stock Exchanges, and Reserve Bank of India.

Ritika Ahuja, Company Secretary & Compliance Officer, signed the disclosure.

Monind Limited reported a net loss of ₹78.11 lakh for the first quarter of FY26 (ended June 30, 2026), widening from a loss of ₹72.87 lakh in the corresponding period of FY25. The company recorded zero revenue from operations, continuing a pattern of no operational income seen in the previous quarter and the full fiscal year ended March 31, 2026.

The Board of Directors approved the unaudited standalone financial results in a meeting held on August 13, 2026. The results were reviewed by O P Bagla & Co LLP, the statutory auditors.

Financial Performance

Total expenses for the quarter stood at ₹78.11 lakh, up from ₹72.87 lakh in Q1FY25. Finance costs constituted the largest expense head, rising 7.9% year-on-year to ₹67.49 lakh from ₹62.54 lakh. Employee benefits expense decreased slightly to ₹2.73 lakh from ₹3.22 lakh in the prior year period. Other expenses increased to ₹7.32 lakh from ₹6.85 lakh.

In contrast, the fourth quarter of FY26 (ended March 31, 2026) had reported a net profit of ₹134.48 lakh, driven by other income of ₹198.56 lakh, which was absent in the current quarter.

What the Numbers Show

The financial data reveals a complete reliance on non-operational factors for profitability, as evidenced by the zero revenue from operations across all reported periods. In Q4FY26, profit was entirely derived from other income, whereas Q1FY26 shows a pure burn rate scenario where finance costs alone account for 86.4% of total expenses. This divergence highlights that the company’s core operations are not generating cash flow, and the recent quarterly profit was an anomaly driven by one-off other income rather than operational turnaround.

Auditor’s Emphasis of Matter

Statutory auditors O P Bagla & Co LLP included an emphasis of matter paragraph in their review report, drawing attention to the company’s accumulated losses resulting in erosion of net worth. The auditors noted that the company incurred net cash losses in the current period and the immediately preceding financial year. Furthermore, current liabilities exceeded current assets, casting doubt on the company’s ability to continue as a going concern. The financial information has been prepared on a going concern basis despite these conditions.