Unisem Agritech files revised FY26 results after audit observation

Unisem Agritech Limited filed revised annual financial results for the financial year ended March 31, 2026, following an observation by BSE Limited. The exchange noted that the company had not uploaded the Statement on Impact of Audit Qualifications along with the initial results. The company confirmed that there is no change in the financial figures approved by the Board, which reported a 23.9% increase in net profit to ₹529.65 lakh from ₹427.41 lakh in FY25. Revenue from operations rose to ₹8,103.38 lakh from ₹6,907.75 lakh in the previous year.

Financial Performance

The company’s total income for FY26 stood at ₹8,107.33 lakh, up from ₹6,907.75 lakh in FY25. Profit before tax for the year was ₹711.25 lakh, compared to ₹571.62 lakh in the previous year. Basic earnings per share increased to ₹5.89 from ₹5.32. The Board of Directors approved the audited financial statements during its meeting held on May 25, 2026.

Metric	FY26 (₹ in Lakhs)	FY25 (₹ in Lakhs)
Revenue from operations	8,103.38	6,907.75
Total Income	8,107.33	6,907.75
Profit before tax	711.25	571.62
Net profit	529.65	427.41
Basic EPS (₹)	5.89	5.32

Auditor's Report and Compliance

Statutory Auditors M/s SKSVM & Co., Chartered Accountants, issued a Qualified Opinion Audit Report. The qualification pertains to the non-provisioning or non-recognition of interest liability on delayed payments to Micro and Small Enterprises under the MSME Development Act, 2006. The management stated that based on contractual arrangements, it believed no material additional liability was required to be recognized, but it is undertaking a detailed review of vendor-wise balances to determine the precise financial impact.

The auditors noted that the accounting software used by the company did not have an audit trail (edit log) facility, resulting in non-compliance with Rule 11(g) of the Companies (Audit and Auditors) Rules, 2014. Consequently, the auditors could not comment on the operation of this feature or any tampering during the year.

Board Appointments and AGM

The Board appointed M/s Neelakari Mahindrakar Associates, Chartered Accountant Firm, as Internal Auditor for FY 2026-27. Mr. M V Bhat, Practicing Company Secretary, was appointed as Secretarial Auditor for a period of five years subject to shareholder approval. The Board also extended the services of Mr. Vijay Malgatte, VP – Business Strategy, beyond retirement age for a further period of five years.

The Annual General Meeting is scheduled for Friday, September 11, 2026, through Video Conferencing. Remote e-voting will be open from September 8, 2026, to September 10, 2026, with September 4, 2026, fixed as the record date for determining entitlement.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-5.61%	+7.45%	-13.68%	-18.22%	-18.22%	-18.22%

Unisem Agritech Limited's Board of Directors held its meeting on Thursday, April 30, 2026, from 11:30 A.M. to 12:00 P.M. The meeting was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board deliberated on and approved several matters related to the company's operations and compliance requirements.

Salary Increments Approved

The board approved salary increments for various categories of personnel as recommended by the Nomination and Remuneration Committee. The increments were sanctioned for executive directors, key managerial personnel (KMP), and senior management personnel (SMP).

Category	Personnel
Executive Directors	Mr. H. N. Devakumar – Managing Director, Mr. Dharanendra H. Gouda – Whole-Time Director, Mr. Anil K. N. – Whole-Time Director
Key Managerial Personnel	Mr. B. H. Devasingh Naik – Chief Executive Officer, Mr. Venkataramana R. – Chief Financial Officer, Ms. Bobby Seth – Compliance Officer & Company Secretary
Senior Management Personnel	Mr. Vijay Malgatte – VP, Business Strategy, Mr. Shivakumar S H – Head of HR & Administration, Ms. Kavita S Davanageri – Head – Accounts Department

Regulatory Compliance Matters

The board addressed several compliance-related matters during the meeting. The minutes of the Board Meeting dated February 17, 2026, were confirmed. The board noted disclosures of interest received from directors under Section 184(1) of the Companies Act, 2013. Additionally, declarations received from directors under Section 164(2) of the Companies Act, 2013 and declarations from independent directors confirming compliance with independence criteria were acknowledged.

Authorizations and Approvals

The board granted general authorization to Mr. H. N. Devakumar, Managing Director, and Ms. Bobby Seth, Company Secretary & Compliance Officer, for filing e-Forms, returns, and other documents with the Ministry of Corporate Affairs (MCA), BSE Limited, and other regulatory authorities for the Financial Year 2026-27. Contracts and arrangements pursuant to Section 189 of the Companies Act, 2013 were approved, and their entry into the relevant register was authorized.

Financial and Investor Matters

The board noted the Statement of Investor Complaints for the quarter ended March 31, 2026, under Regulation 13(3) of SEBI (LODR) Regulations, 2015. The Reconciliation of Share Capital Audit Report for the quarter ended March 31, 2026, under Regulation 76 of SEBI (Depositories and Participants) Regulations, 2018, was also noted. Furthermore, the board approved the creation of provisions for bad debts for the Financial Year 2025-26 in respect of receivables outstanding for more than three years as on March 31, 2026, in line with prudent accounting practices.