Kome-On Communication Limited's Board of Directors conducted a comprehensive meeting on February 23, 2026, approving multiple quarterly and annual financial results spanning several financial years. The meeting, which commenced at 12:00 PM and concluded at 12:45 PM, addressed regulatory compliance under SEBI Listing Regulations for various reporting periods including the significant Q4FY24 results.

Board Meeting Outcomes and Comprehensive Approvals

The Board approved an extensive range of financial statements including unaudited results for Q1FY23 ended June 30, 2022, and comprehensive financial statements for FY24, FY25, and partial FY26. Key approvals encompassed quarterly results for multiple periods, annual audited statements, and associated auditor reports in compliance with Regulation 33 of SEBI Listing Regulations.

Q4FY24 Financial Performance with Exceptional Items

The company reported a significant net loss of ₹1321.86 lakhs for Q4FY24 ended March 31, 2024, primarily driven by exceptional items worth ₹1321.62 lakhs. Before exceptional items, the company recorded a loss of ₹0.24 lakhs with minimal other income of ₹0.05 lakhs. The annual performance showed total losses of ₹1327.65 lakhs compared to ₹130.29 lakhs in the previous year.

Annual Performance and Expense Analysis

For FY24, the company's total expenses reached ₹6.08 lakhs compared to ₹130.29 lakhs in FY23. Employee benefit expenses remained at ₹1.68 lakhs annually, while other expenses decreased to ₹4.17 lakhs from ₹127.10 lakhs in the previous year. Finance costs increased to ₹0.23 lakhs from ₹0.09 lakhs.

Balance Sheet Position and Cash Flow

The company's total assets declined significantly to ₹1.13 lakhs as of March 31, 2024, from ₹1327.04 lakhs in the previous year. Cash and cash equivalents decreased to ₹1.13 lakhs from ₹1.58 lakhs. The equity position turned negative at ₹12.74 lakhs due to accumulated losses, while total liabilities stood at ₹13.86 lakhs.

Audit Compliance and Regulatory Framework

Statutory auditors Jitendra Chandulal Mehta & Co. conducted the audit with CA Umang Vora providing certification under UDIN: 26150640HJFEYE7709. The audited results confirm compliance with Indian Accounting Standards and SEBI regulations, with the company maintaining its paid-up equity share capital at ₹1500.81 lakhs with a face value of ₹10 per share throughout the reported periods.

Kome-On Communication Limited has announced the appointment of new statutory auditors following a board meeting held on February 3, 2026. The decision addresses a casual vacancy in the auditor position and requires shareholder approval at the company's upcoming Annual General Meeting.

Board Meeting Details

The board of directors convened on February 3, 2026, from 10:30 AM to 11:20 AM to consider the auditor appointment. The meeting was conducted in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Appointment Details

The board approved the appointment of M/s. Jitendra Chandulal Mehta & Co., Chartered Accountants (FRN: 104288W) as the company's statutory auditors. This appointment fills the casual vacancy created by the departure of M/s. AMD & CO, Chartered Accountants (FRN: 130247W).

The appointment was made based on the recommendation of the company's Nomination and Remuneration Committee and remains subject to approval by shareholders at the ensuing Annual General Meeting.

New Auditor Profile

M/s. Jitendra Chandulal Mehta & Co. is a chartered accountancy firm registered with the Institute of Chartered Accountants of India (ICAI). The firm provides comprehensive professional services including:

• Statutory audit services
• Internal audit functions
• Taxation advisory
• Regulatory compliance
• Advisory services across various industries

The firm operates with a team of qualified and experienced professionals committed to maintaining high standards of integrity, independence, and professional competence. Their audit approach is described as risk-based and process-driven, ensuring transparency and accountability while adhering to applicable accounting and auditing standards.

Regulatory Compliance

The appointment follows the provisions of the Companies Act, 2013, with the new auditors responsible for expressing independent opinions on the truth and fairness of the company's financial statements. The disclosure was made in compliance with SEBI regulations and circular SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

The company confirmed that there are no disclosed relationships between the new auditing firm and the company's directors, ensuring independence in the auditing process.