Prabhatam Infra Venture Limited (formerly B J Duplex Boards Limited) announced on August 13, 2026, that its statutory auditor, M/s. V.R. Bansal & Associates, has resigned from the position. The resignation is effective immediately, marking the end of the firm's tenure as the company's statutory auditors.

The audit firm, based in Noida, cited personal reasons for its decision to step down. In its official declaration submitted to the Board of Directors, V.R. Bansal & Associates explicitly stated that there are no material reasons other than those disclosed which resulted in the resignation.

Regulatory Compliance and Declarations

The company notified the Bombay Stock Exchange (BSE) pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure includes the mandatory information and declaration furnished by the resigning auditor as required under Schedule III of the regulations.

Key details from the auditor's declaration include:

The firm confirmed that it has communicated the reasons for resignation to the company and that the information provided is true, correct, and complete to the best of its knowledge. Additionally, the resignation letter noted that it is subject to the clearance of professional dues.

No Accounting Disagreements

Crucially, the statutory auditor declared that there were no concerns, including disagreements with management, regarding accounting treatment, disclosure, or any other matter that resulted in the resignation. This confirmation helps rule out any potential governance red flags or financial reporting disputes often associated with sudden auditor exits.

Mayank Gupta, Whole Time Director of Prabhatam Infra Venture Limited, signed the intimation letter addressed to the Manager at BSE Limited. The company is expected to appoint a new statutory auditor in accordance with applicable laws and regulations.

Prabhatam Infra Venture Limited (formerly B J Duplex Boards Limited) reported a widened net loss of ₹27.02 lakh for the quarter ended June 30, 2026, compared to a net loss of ₹8.64 lakh in the corresponding quarter of the previous fiscal year. The deterioration in profitability was driven by a significant rise in total expenses, which climbed to ₹39.88 lakh from ₹8.64 lakh in Q1FY26, outpacing revenue growth. This financial performance reflects the early-stage challenges associated with the company’s transition into its new line of business, lease rentals.

The company’s revenue from operations increased to ₹12.75 lakh in Q1FY27, up from nil in Q1FY26, marking its first operational income in this segment. However, this top-line improvement was overshadowed by escalating operational and financial burdens. Finance costs rose sharply to ₹13.12 lakh from ₹1.56 lakh in the prior year quarter, while depreciation and amortization expenses accounted for ₹11.04 lakh. Other expenses also saw a notable increase to ₹12.12 lakh from ₹6.10 lakh in Q1FY26. Employee benefit expenses remained relatively stable at ₹3.60 lakh.

Financial Performance Overview

The following table highlights the key standalone financial metrics for Prabhatam Infra Venture Limited for the quarter ended June 30, 2026:

As per the filing, the net loss of ₹27.02 lakh is directly attributable to the new line of business involving lease rentals. The company disclosed that income relating to this new segment was ₹12.75 lakh, with other income of ₹0.11 lakh, against total expenses of ₹39.88 lakh. This segment-wise disclosure indicates that the core operational model is currently cash-negative, requiring careful monitoring of cost structures as the business scales.

Strategic Developments and Regulatory Compliance

Beyond its quarterly results, Prabhatam Infra Venture Limited announced significant capital raising initiatives. The company received in-principle approval from BSE Limited on July 6, 2026, for the proposed issue of 20,40,10,350 equity shares on a preferential basis at an issue price of ₹1 per share. Additionally, the company plans to issue 6,00,00,000 equity shares for consideration other than cash and another 6,00,00,000 shares for cash consideration. These issuances are subject to compliance with the Companies Act, 2013, SEBI (Issue of Capital and Disclosures Requirement) Regulations, 2018, and other applicable regulatory approvals.

The unaudited standalone financial results were prepared in accordance with Ind AS-34 "Interim Financial Reporting" as prescribed under Section 133 of the Companies Act, 2013. The results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on August 11, 2026. A limited review under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, was conducted by the statutory auditors, who expressed an unmodified opinion on the standalone financial statements. The company operates in a single business segment, making the disclosure requirements of Ind AS-108 "Operating Segments" inapplicable.