Consecutive Investment & Trading Co. Approves Q1 FY2026 Results Amid Audit Considerations

Consecutive Investment & Trading Company Limited, a Kolkata-based firm, has announced the approval of its unaudited financial results for the first quarter of the fiscal year 2026. The company's Board of Directors convened on August 14, 2025, to review and approve the financial statements for the quarter ended June 30, 2025.

Board Meeting Highlights

The board meeting, which commenced at 12:30 PM and concluded at 1:00 PM, focused on the approval of the un-audited financial results for Q1 FY2026. These results were prepared in accordance with Regulation 33 of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.

Audit Committee Review

Prior to the board's approval, the Audit Committee conducted a thorough review of the financial results. This step ensures compliance with corporate governance standards and provides an additional layer of scrutiny to the company's financial reporting process.

Auditor's Limited Review Report

S K Bhavsar & Co., the statutory auditors, performed a limited review of the financial results. In their report, the auditors highlighted several key points:

1. Pending Verifications: The auditors noted that comprehensive verification of Trade Receivables, Trade Payables, and all Loans and Advances balances is pending. This verification process includes obtaining direct confirmations from external parties and reconciling them with the company's internal records.

2. GST Considerations: During the audit period, the company did not have a Goods and Services Tax Network (GSTN) registration. As a result, the revenue from goods sales required specific verification procedures related to GST compliance.

3. Alternative Procedures: To address the GST verification issue, the auditors conducted thorough vouching of sales and purchase invoices, along with all supporting documents.

Auditor's Conclusion

Despite the noted considerations, S K Bhavsar & Co. concluded that these matters do not impact their audit opinion. Based on their review, the auditors stated that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement or fail to disclose required information under the Listing Regulations.

Management's Responsibility

The company's management, under the leadership of Managing Director Mr. Jitendrakumar (DIN: 10855406), is responsible for the preparation of these financial statements in accordance with Indian Accounting Standards (Ind AS) and other accounting principles generally accepted in India.

Consecutive Investment & Trading Company Limited continues to adhere to regulatory requirements and maintain transparency in its financial reporting processes. Investors and stakeholders are advised to refer to the detailed financial results for a comprehensive understanding of the company's performance in Q1 FY2026.