Panther Industrial Products has scheduled a board meeting for September 4, 2026, to consider the appointment of new statutory auditors. The company aims to fill a casual vacancy in its audit function.

The Board of Directors will convene at 4:00 pm at Radha Bhavan in Mumbai. The primary agenda item is to recommend the appointment of M/s R P M G and Associates, Chartered Accountants (FRN: 015428C), as Statutory Auditors. The board intends to appoint the firm for a term of five years.

This disclosure complies with Listing Regulation 29 of the SEBI (LODR) Regulations, 2015. Kaushik C. Shah, Managing Director, signed the intimation dated August 26, 2026.

Panther Industrial Products reported a standalone net loss of ₹8.13 lakh for the quarter ended June 30, 2026, widening from a loss of ₹5.26 lakh in the corresponding period of FY25. The company logged zero revenue from operations for the quarter, marking its third consecutive quarter of nil operating income following similar figures in Q4FY26 and the full fiscal year.

Total expenses rose to ₹8.13 lakh from ₹5.26 lakh in Q1FY26, driven primarily by higher operating and other expenses, which increased to ₹7.23 lakh from ₹4.10 lakh in the prior year quarter. Depreciation expense declined significantly to ₹0.05 lakh from ₹0.31 lakh, while listing fees remained stable at ₹0.81 lakh. Basic earnings per share stood at a loss of ₹0.58, compared to a loss of ₹0.38 in Q1FY26.

What the Numbers Show

The company’s balance sheet reflects a deepening equity deficit. Reserves and surplus deteriorated to -₹50.05 lakh as of June 30, 2026, from -₹41.91 lakh at the end of March 2026. This erosion is directly attributable to the quarterly loss, as no other comprehensive income was recorded. With tangible fixed assets valued at just ₹0.28 lakh and cash balances dwindling to ₹0.65 lakh from ₹2.17 lakh three months prior, the firm’s operational runway appears constrained by persistent losses against minimal asset base.

Auditor Concerns

Statutory auditors Rajesh H. Gupta & Co. issued a limited review report highlighting specific reservations. They noted that a bank balance of ₹7,154 with Canara Bank lacked adequate documentary evidence, such as bank statements, preventing independent verification of its existence or accuracy. Additionally, the auditors flagged an unsecured borrowing of ₹23.20 lakh from Scion, described by management as relating to an incentive scheme. The auditors stated that the prolonged outstanding nature of this liability requires assessment for compliance with Ind AS 109 and Ind AS 1 regarding classification, measurement, and interest accrual.

The company also disclosed that it is in the process of amalgamation with Shivang Edibles Oils Limited. Public shareholding remained unchanged at 50.98%, while promoters held 49.02% of the equity, with no shares pledged.