Tirupati Innovar Limited will hold a board meeting on June 19, 2026, to consider and approve the issuance of bonus shares and the sub-division of its equity shares. The meeting aims to enhance shareholder value through a potential bonus issue and a stock split, subject to regulatory and member approvals.

The board will evaluate a proposal to issue bonus shares to equity shareholders in a ratio to be determined during the meeting. Additionally, the directors will consider sub-dividing the company's existing equity shares in a 1:10 ratio. This means each existing equity share with a face value of ₹10 will be split into ten equity shares of ₹1 each, pending necessary approvals.

The meeting is convened under Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The decisions taken will require shareholder approval where applicable. The company's board will finalize the specific ratio for the bonus issue during the session.

Agenda Details

The primary agenda items for the board meeting include:

• Issue of Bonus Shares: To equity shareholders in a ratio to be decided by the board, subject to member approval.
• Stock Split: Sub-division of equity shares in the ratio of 1:10, subject to required approvals.

The notice regarding this meeting is available on the company's website and the BSE website. Tirupati Innovar has informed the exchanges that the outcomes will be disclosed post-meeting.

Tirupati Innovar Limited reported a net profit of ₹65.20 lakh for the financial year ended March 31, 2026, while revenue from operations increased significantly to ₹14273.02 lakh. Despite the top-line growth, the company's statutory auditors issued a disclaimer of opinion on the standalone financial results, citing an inability to obtain sufficient audit evidence to verify key financial figures. The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, in a meeting held on June 08, 2026.

Audit Disclaimer and Key Qualifications

Chandabhoy & Jassoobhoy Chartered Accountants, the independent auditor, stated they could not express an opinion on the accompanying standalone annual financial results. The disclaimer arises from the significance of several matters, including the company writing off trade payables without supporting documentation and failing to provide bifurcation of payables related to Micro, Small, and Medium Enterprises (MSME). The auditors noted that non-disclosure of MSME classification is not in compliance with the MSMED Act, 2006.

Further, the company reported significant trade receivable balances, but external balance confirmations for major outstanding amounts were not provided. The auditors also highlighted that the company reported substantial sales and purchases while reflecting nil closing stock, claiming goods are directly transferred from suppliers to customers. However, the existence of godown rent expenses appeared inconsistent with this representation, and the absence of stock records prevented verification of trading transactions.

Financial Performance for FY26

For the year ended March 31, 2026, Tirupati Innovar recorded a total revenue of ₹14422.55 lakh, up from ₹1180.63 lakh in the previous year. Total expenses for the period rose to ₹14335.43 lakh. The company reported a profit before tax of ₹87.12 lakh for the current year, compared to ₹133.18 lakh in the prior year. Basic earnings per share (EPS) for the year stood at ₹0.27, down from ₹0.41 in the previous year.

Balance Sheet and Cash Flow Highlights

The company's balance sheet as of March 31, 2026, showed total assets of ₹20955.78 lakh, a sharp increase from ₹6993.99 lakh in the previous year. Trade receivables surged to ₹15194.23 lakh from ₹1260.35 lakh, while trade payables stood at ₹14746.18 lakh. Cash and cash equivalents decreased to ₹9.48 lakh from ₹22.27 lakh. Cash flow from operating activities was negative at ₹(63.17) lakh, while financing activities provided a net inflow of ₹50.56 lakh.