Morgan Ventures Limited has appointed H. Tara & Co., Practicing Cost Accountants, as its internal auditor for the financial year 2026-2027. The Board of Directors approved the appointment during a meeting held on May 29, 2026. The firm will oversee the internal audit functions for the company, ensuring compliance with regulatory requirements.

The appointment was made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The meeting commenced at 3:30 p.m. and concluded at 4:30 p.m. on the same day. The disclosure was submitted to the stock exchanges to inform shareholders and regulatory bodies.

H. Tara & Co. is registered with the Institute of Cost Accountants of India under Firm Registration No. 100265. The firm is led by CMA Harkesh Tara, a Cost Accountant and Registered Insolvency Professional. The firm confirmed that it holds a Certificate of Practice and operates independently at arm's length from the company.

Details of Appointment

The following table outlines the key details of the appointment as disclosed in the regulatory filing:

The firm confirmed that it does not suffer from any disqualifications under the Companies Act, 2013, specifically relating to Section 138 regarding the appointment of an internal auditor. H. Tara & Co. also certified that there are no pending orders or proceedings against the firm or its partners before the Institute of Cost Accountants of India or any competent authority.

Morgan Ventures Limited reported a net profit of ₹270.55 lakh for the quarter ended March 31, 2026, reversing the loss of ₹551.90 lakh recorded in the previous quarter. The company's board approved the audited financial results for the quarter and financial year ended March 31, 2026, on May 29, 2026. The total income for Q4FY26 rose to ₹1,266.29 lakh, up from ₹129.19 lakh in the quarter ended December 31, 2025, primarily driven by investment income of ₹166.95 lakh and a net gain of ₹1,099.34 lakh from fair value changes of investments.

For the full financial year ended March 31, 2026, the company reported a net profit of ₹270.55 lakh, significantly lower than the ₹670.41 lakh profit recorded in the previous year. Total expenditure for the quarter stood at ₹798.91 lakh, a sharp increase from ₹712.41 lakh in the preceding quarter, largely due to management expenses of ₹336.26 lakh and interest paid on loans amounting to ₹427.72 lakh. The company's earnings per share (EPS) for the quarter was ₹2.73, compared to a negative EPS of ₹5.58 in the previous quarter.

Key Financial Metrics

The statutory auditors, D. H. A. & Co., issued an audit report with an unmodified opinion on the financial results. However, the auditors drew attention to a legal matter concerning land held as fixed assets. The Maharashtra Industrial Development Corporation (MIDC) issued a notice dated August 31, 2024, revoking lease rights for land plots aggregating approximately 76,483 square meters. The company has filed a writ petition before the Bombay High Court challenging the revocation, and the court has permitted MIDC to take only symbolic possession pending a final order. The land is valued at ₹20.02 crore in the company's books.

Related Party Transactions

The auditor's report noted transactions with related parties during the year. The company had outstanding loan amounts payable to Morgan Securities and Credits Pvt Ltd of ₹10,04,29,959 and to Peacock Chemicals Pvt Ltd of ₹20,28,61,851 as of March 31, 2026. These entities are under the significant influence of a Key Managerial Personnel, and the outstanding amounts exceed 10% of the company's annual consolidated turnover based on the last audited financial statements.