Shalimar Productions has accepted the resignation of M/s. Bhatter & Associates as its statutory auditor, effective September 7, 2026. The firm cited pre-occupation with other professional assignments as the reason for stepping down.

The company disclosed the development in a filing with BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The intimation was signed by Tilokchand Manaklal Kothari, Director, on September 8, 2026.

Resignation Details

M/s. Bhatter & Associates, Chartered Accountants (Firm Registration No: 131411W), submitted their formal resignation letter to the Board of Directors. CA Gopal Bhatter, Partner (Membership No: 411226), stated that the firm is unable to devote sufficient time to the company’s affairs due to other commitments.

The company attached the resignation letter and required disclosures under Schedule III of the Listing Regulations and SEBI Master Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, to the exchange filing.

Shalimar Productions Ltd reported a narrowed standalone net loss of ₹2.42 lakh for the quarter ended June 30, 2026 (Q1FY26), a sharp improvement from the ₹52.03 lakh loss recorded in Q1FY25. The reduction in losses was driven by a substantial rise in revenue from operations to ₹75.01 lakh, compared to just ₹0.02 lakh in the corresponding period last year. This operational activity helped contain the deficit despite total expenditure rising to ₹77.43 lakh from ₹52.05 lakh YoY.

The Board of Directors approved the unaudited financial results during a meeting held on August 12, 2026, in Mumbai. The results were reviewed by Bhatther & Associates, the company’s independent auditors, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The trading window for securities will reopen 48 hours after the public disclosure of these results.

Financial Performance Highlights

The company’s income statement reflects a shift in activity levels compared to the prior year. While revenue increased significantly, operating expenses also rose, primarily due to higher other expenses and employee benefits. The following table details the key financial metrics for Q1FY26:

Employee benefits expenses stood at ₹8.49 lakh, slightly up from ₹8.04 lakh in Q4FY25 but lower than the ₹8.99 lakh recorded in Q1FY25. Depreciation and amortisation expenses decreased to ₹4.56 lakh from ₹6.01 lakh in the same period last year. However, other expenses saw a notable increase to ₹64.38 lakh, compared to ₹37.05 lakh in Q1FY25, contributing significantly to the overall expenditure.

What the Numbers Show

The most striking aspect of Shalimar Productions’ Q1FY26 performance is the divergence between revenue growth and expense management. While revenue surged nearly 3,75,000% year-on-year, indicating renewed operational activity or specific project completions, the cost structure did not scale proportionally in a profitable manner. Other expenses accounted for approximately 83% of total expenditure in Q1FY26, suggesting that non-operational costs or one-off items may be weighing on profitability. Despite the improved bottom line relative to the previous year, the company remains unprofitable, with a net loss per share of ₹0.00 (basic) for the quarter. The paid-up equity share capital remains unchanged at ₹9,843.28 lakh.