Nivaka Fashions appoints H R Bohra & Co as internal auditor

Nivaka Fashions Ltd has appointed M/s. H R Bohra & Co as its internal auditor for FY 2026-27 to ensure continuity of the internal audit function. The Board of Directors approved the appointment on June 13, 2026, following the cessation of the previous internal auditor. The firm brings extensive experience in internal audit and Internal Financial Controls reviews and holds a valid Peer Review certificate.

The Board meeting commenced at 4:26 P.M. and concluded at 4:31 P.M. on June 13, 2026. The appointment was made to comply with the provisions of the Companies Act, 2013, and the requirements under SEBI (LODR) Amendment Regulations, 2015.

Disclosures under Regulation 30

The company provided detailed disclosures regarding the appointment and cessation of internal auditors as required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Particulars	Appointment of Internal Auditors
Reason for change	Appointment to comply with Companies Act, 2013 and SEBI (LODR) Amendment Regulations, 2015
Date of appointment	June 13, 2026
Term of Appointment	FY 2026-2027
Brief profile	M/s. H R Bohra, a firm with extensive experience in internal audit and Internal Financial Controls reviews, holding a valid Peer Review certificate
Disclosure of relationships	Not applicable

Particulars	Cessation of Internal Auditors
Reason for change	Cessation
Date of Cessation	June 13, 2026
Term of Appointment	-
Brief profile	-
Disclosure of relationships	Not applicable

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+5.00%	-1.18%	-28.21%	-76.67%	-76.60%	-86.88%

Nivaka Fashions Limited reported a net loss of ₹520.89 lakh for the financial year ended March 31, 2026, widening from a loss of ₹50.37 lakh in the previous year. The company's total income for the year declined to ₹18.32 lakh from ₹183.85 lakh in FY25, primarily due to a sharp drop in revenue from operations to ₹1.65 lakh. The board approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

For the quarter ended March 31, 2026, the company reported a net loss of ₹361.14 lakh, with total income standing at ₹3.94 lakh. Total expenses for the quarter surged to ₹364.35 lakh, driven by a significant increase in changes in inventories to ₹151.60 lakh and other expenses to ₹171.23 lakh. The statutory auditors carried out a limited review of the results, and their report is unqualified.

The board appointed H R Bohra and Co as the internal auditor for the financial year 2026-27. The firm has extensive experience in internal audit and internal financial controls reviews and holds a valid Peer Review certificate. The appointment is effective for the upcoming fiscal year.

The auditor's report included an emphasis of matter regarding an order received under section 73(9) of the CGST Act. The order alleges a mismatch of Input Tax Credit (ITC) claimed and ineligible ITC from a supplier with cancelled registration, aggregating ₹422.73 lakh including tax, interest, and penalty for the period July 1, 2017, to March 31, 2019. Management is confident of a favorable outcome, and no adjustments have been made to the financial results.

Metric	Q4FY26 (₹ Lakh)	Q4FY25 (₹ Lakh)	FY26 (₹ Lakh)	FY25 (₹ Lakh)
Total Income	3.94	134.60	18.32	183.85
Total Expenses	364.35	109.83	541.18	233.22
Net Profit/(Loss)	(361.14)	23.53	(520.89)	(50.37)
Basic EPS (₹)	(0.35)	0.02	(0.51)	(0.05)

The meeting commenced at 4:36 pm and concluded at 4:52 pm on May 30, 2026. The intimation regarding the outcome was submitted to BSE Limited and Metropolitan Stock Exchange of India Limited.