Talwalkars Better Value Fitness Limited reported a net loss of ₹8,738.29 lakh for the financial year ended March 31, 2026, following the approval of its audited standalone financial results by the Board of Directors on May 30, 2026. The loss for the quarter and year ended March 31, 2026, was primarily driven by exceptional items amounting to ₹7,553.00 lakh, recognized pursuant to the execution of Fresh Start Accounting after an NCLT Relief Order. The company's total revenue for the year stood at ₹14.29 lakh, while total expenses were ₹1,199.59 lakh.

NCLT Relief Order and Fresh Start Accounting

During the quarter ended March 31, 2026, the Hon'ble NCLT, Mumbai Bench, pronounced a Relief Order on February 26, 2026, which permanently extinguished all pre-transfer liabilities of financial and operational creditors and cancelled the existing equity share capital without payment to shareholders. Pursuant to this order, the company executed Fresh Start Accounting, writing back extinguished liabilities to Capital Reserve and recording transferred assets at management-determined values. The statutory auditor, M/s. S K Bhavsar & Co., Chartered Accountants, issued an unmodified opinion on the financial results.

Key Financial Metrics for FY26

The financial results reflect the impact of the corporate restructuring and the transition from liquidation to a going concern. The company reported a basic loss per share of ₹2.82 for the year ended March 31, 2026. The paid-up equity share capital remained at ₹3,100.49 lakh with a face value of ₹10.00 per share, pending formal cancellation and reissuance. The company confirmed it is not classified as a "Large Corporate" as per SEBI criteria, with outstanding borrowings of ₹10 Crores as on March 31, 2026.

Auditor's Emphasis and Material Uncertainty

The auditor's report highlighted several emphasis of matter points, including the NCLT Relief Order, the execution of Fresh Start Accounting, and the impairment of fixed assets where the exact realizability of balances has not yet been ascertained. Additionally, the auditor noted a material uncertainty related to the company's status as a going concern, dependent on the successful completion of pending SEBI approvals and the lifting of the trading suspension on BSE and NSE. Comparative figures for the previous year were reconstructed on a best-effort basis from fragmented records due to the liquidation period.

Talwalkars Better Value Fitness Limited announced comprehensive corporate governance changes following its Board of Directors meeting held on April 14, 2026. The board meeting, which commenced at 02:00 P.M. and concluded at 03:15 P.M., addressed key operational and compliance matters including office relocation, auditor appointments, and personnel changes.

Registered Office Relocation

The board approved the immediate shifting of the company's registered office effective April 14, 2026. The relocation details are outlined below:

Statutory Auditor Appointment

Based on the Audit Committee's recommendation, the board appointed M/s. S K Bhavsar & Co., Chartered Accountants as Statutory Auditors for the financial year 2026-27, subject to member approval at the ensuing General Meeting. The firm has been additionally authorized to audit and sign financial statements for all previous financial years that remained pending during NCLT proceedings, with authorization extending up to February 26, 2026.

Secretarial and Internal Auditor Appointments

The board made two additional key auditor appointments to strengthen the company's compliance framework.

Secretarial Auditor

M/s Pooja M Patel & Associates, Practicing Company Secretary was appointed as Secretarial Auditor for a five-year term from April 1, 2026, to March 31, 2031, in accordance with Regulation 24 of SEBI Listing Regulations.

Internal Auditor

M/s. Kishan Patel & Associates, Chartered Accountants (FRN: 151318) was appointed as Internal Auditor for Financial Year 2026-27, ensuring compliance with Section 138 of the Companies Act, 2013.

Company Secretary Transition

The board noted the resignation of Ms. Pooja Jain as Company Secretary and Compliance Officer effective April 10, 2026. Subsequently, based on the Nomination and Remuneration Committee's recommendation, Mr. Kamlesh Laxmanbhai Bachani (ACS: 79045) was appointed as the new Company Secretary and Compliance Officer effective April 14, 2026.

All appointments are subject to member approval at the company's upcoming General Meeting, with decisions made in compliance with applicable SEBI regulations and the Companies Act, 2013. The company has submitted detailed annexures to stock exchanges providing comprehensive information about each appointment as required under Regulation 30 of SEBI Listing Regulations.