Parshwanath Corporation Limited has appointed M/s Mehul Doshi & Associates as its internal auditor effective May 28, 2026, following the resignation of Mr. Ajay J Shah & Co. The change was approved during a board meeting held on the same date. The appointment and resignation comply with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mr. Ajay J Shah & Co. resigned from the position of internal auditor due to pre-occupation in other activities. The cessation of their role is effective from May 28, 2026. The outgoing firm was a Chartered Accountant entity serving the company in this capacity.

The newly appointed firm, M/s Mehul Doshi & Associates, brings significant experience to the role. The proprietor, CA Mehul Doshi, possesses over 14 years of professional experience, with 12 years specifically dedicated to internal audit. The firm has a diverse client portfolio across industries such as railway contracting, construction, infrastructure, FMCG, healthcare, textile, and real estate.

Details of Auditor Change

The following table outlines the key particulars regarding the resignation and appointment of the internal auditor:

The disclosures regarding the change were submitted to the Bombay Stock Exchange Limited. Mrs. Riddhiben Rushabh Patel, Joint-Managing Director & CFO, signed the regulatory filing.

Parshwanath Corporation Limited reported a net loss of ₹3.20 lakh for the financial year ended March 31, 2026, a significant decline from the net profit of ₹55.48 lakh recorded in the previous year. The company's revenue from operations fell to ₹62.33 lakh in FY26 from ₹70.19 lakh in FY25. The statutory auditors, M/s MBD & Co. LLP, issued an unmodified opinion on the standalone audited financial results approved by the Board on May 28, 2026.

For the quarter ended March 31, 2026, the company reported a net loss of ₹35.85 lakh, contrasting with a net profit of ₹0.95 lakh in the corresponding quarter of the previous year. Revenue from operations for the quarter stood at ₹11.72 lakh, slightly lower than the ₹12.46 lakh reported in the same period last year. Total income for the quarter decreased to ₹12.32 lakh from ₹33.21 lakh year-on-year.

Financial Performance

The company's total expenses for FY26 increased to ₹131.32 lakh from ₹91.83 lakh in the prior year. Employee benefit expenses rose to ₹47.75 lakh from ₹42.66 lakh, while other expenses stood at ₹47.84 lakh compared to ₹48.76 lakh in FY25. The company recorded an impairment loss on financial assets of ₹15.73 lakh during the year.

Balance Sheet and Cash Flows

The company's total assets as of March 31, 2026, stood at ₹1,246.27 lakh, marginally higher than ₹1,236.25 lakh in the previous year. Equity share capital remained constant at ₹313.18 lakh. Cash and cash equivalents dropped significantly to ₹0.67 lakh from ₹1,132.99 lakh at the end of FY25. The net cash flow from operating activities was negative at ₹1,196.07 lakh, primarily due to changes in working capital.

The Board of Directors approved the financial results at its meeting held on May 28, 2026. The results were prepared in accordance with the Indian Accounting Standards (Ind AS). The company noted that the new labour codes, effective from November 21, 2025, have been evaluated, and the resulting financial impact has been recognised in the standalone audited financial results for FY26 based on management estimates.