Tirupati Tyres , formerly known as Tirupati Innovar Limited, has released its unaudited financial results for the quarter and half-year ended September 30, 2025, revealing a mixed picture of financial performance and auditor concerns.

Financial Highlights

The company, operating primarily in the Agriculture & Others segment, reported the following key figures:

Segment Performance

Tirupati Tyres' Agriculture & Others segment showed significant growth:

Auditor's Disclaimer

Despite the reported financial figures, the statutory auditors issued a disclaimer of opinion, citing several concerns:

1. Lack of satisfactory supporting documents for sales and purchases
2. Inadequate inventory valuation documentation
3. Missing fixed assets register
4. Unconfirmed trade receivables and payables
5. Unsecured loans without proper agreements
6. Non-disclosure of MSME classification for trade payables

The auditors noted that they were unable to obtain sufficient audit evidence due to inadequate documentation and handover from previous management.

Management Response

The company's management, led by Managing Director & CFO Pavankumar Kamleshbhai Patel, approved these unaudited financial results in a board meeting held on November 11, 2025. The meeting, which commenced at 6:00 P.M. and concluded at 6:20 P.M., also involved a review by the Audit Committee.

Investor Considerations

While Tirupati Tyres reports growth in its Agriculture & Others segment, the auditor's disclaimer raises significant questions about the company's financial reporting and internal controls. Investors and stakeholders may need to approach these results with caution and seek further clarification from the company regarding the auditors' concerns.

The company's ability to address these documentation and control issues may be crucial for restoring confidence in its financial reporting in the coming quarters.

Tirupati Tyres Limited (TTL) has issued a corrigendum to its postal ballot notice, addressing typographical errors in the special resolution seeking shareholder approval for a significant company name change. The Mumbai-based company aims to rebrand itself as 'Tirupati Innovar Limited', reflecting its diversification beyond tyre manufacturing.

Corrigendum Details

The corrigendum clarifies several points in the original postal ballot notice:

1. The proposed name change from 'Tirupati Tyres Limited' to 'Tirupati Innovar Limited' has been officially approved by the Central Registration Centre (CRC).
2. The e-voting period for shareholders remains unchanged.
3. Shareholders who have already cast their votes can modify them by emailing the scrutinizer at csvishakhaagarwal@gmail.com before the voting deadline.

Business Diversification

TTL's decision to change its name stems from a significant shift in its business focus. Originally a tyre manufacturer, the company has diversified into:

• Agriculture: Cultivation and production of crops, fruits, vegetables, and grains
• Infrastructure-related activities
• Goldsmith and silversmith business

The Board of Directors approved this name change decision, believing it better aligns with the company's current activities and strategic direction.

Regulatory Compliance

The corrigendum emphasizes that the name change complies with Section 13 of the Companies Act, 2013, and Regulation 45(1)(b) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. A revised certificate from a practicing Chartered Accountant confirming compliance with SEBI regulations has been attached to the explanatory statement.

Impact on Existing Commitments

Tirupati Tyres assures stakeholders that the proposed name change will not affect the company's legal status or constitution. All existing contracts, obligations, and commitments under the current name will remain valid and enforceable.

The Board of Directors recommends shareholders approve this special resolution, marking a new chapter in the company's evolution from a tyre manufacturer to a diversified enterprise.