Axel Polymers Approves Audited Q4 FY26 Results, Reappoints Internal Auditor

Axel Polymers Ltd announced that its Board of Directors, in a meeting held on June 2, 2026, approved the audited financial results for the fourth quarter and fiscal year ended March 31, 2026. The Board also took note of the Independent Auditor's Report from M/s. Mukund and Rohit. Additionally, the company reappointed M/s. Chirag Bhatt & Associates as its Internal Auditor for the Financial Year 2026-27. The auditor's report highlighted a material uncertainty related to the company's ability to continue as a going concern due to a significant show cause notice from the GST department regarding alleged wrongful availment of Input Tax Credit (ITC) amounting to Rs. 31.57 crores, along with applicable interest and penalties. The report also noted ongoing investigations by regulatory authorities and legal proceedings initiated by a vendor.