Prabhatam Infra Venture Limited (formerly B J Duplex Boards Limited) resubmitted its corporate announcement regarding the resignation of its statutory auditor, M/s. V.R. Bansal & Associates, on August 17, 2026. The revised filing was necessitated by an observation from the Bombay Stock Exchange (BSE) that the initial announcement submitted on August 13, 2026, did not include all required details prescribed under the SEBI Circular dated January 30, 2026, read with the requirements specified under the SEBI Circular dated October 18, 2019.

The company notified the BSE pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In its letter to the exchange, Mayank Gupta, Whole Time Director, stated that the revised disclosure should be treated as a fresh submission in continuation of the earlier corporate announcement dated August 13, 2026.

Auditor Resignation Details

The statutory auditor, based in Noida, cited personal reasons for its decision to step down. The resignation is effective immediately from August 13, 2026, marking the end of the firm's tenure as the company's statutory auditors. 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.

Key details from the auditor's declaration include:

Regulatory Compliance and Declarations

The disclosure includes the mandatory information and declaration furnished by the resigning auditor as required under Schedule III of the regulations. The firm explicitly stated that there are no material reasons other than those disclosed which resulted in the resignation.

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.

According to the annexure provided in the resubmission, V.R. Bansal & Associates was appointed as Statutory Auditor on April 1, 2024, with a term scheduled to expire on March 31, 2029. The latest audit report was submitted on August 11, 2026. The firm confirmed that no efforts were made to approach the Audit Committee or Board of Directors prior to resignation regarding any concerns, as none existed.

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.