Mahip Industries Board Approves FY26 Results; Auditor Issues Qualified Opinion

Mahip Industries Ltd's Board of Directors approved the audited financial results for the half year and year ended March 31, 2026. The independent auditor, B. A. Bedawala & Co., issued a qualified opinion on these results. The qualifications stem from the company's failure to obtain balance confirmations for trade receivables, payables, and loans/advances, contravention of Section 73 of the Companies Act regarding loan/deposit acceptance, and non-revaluation of fixed assets as per AS 10. Additionally, the auditor highlighted an emphasis of matter regarding the recognition of ₹32.80 lakhs from VAT pre-deposit balances and ₹5.61 lakhs in related interest income, which boosted current year profits and are considered non-recurring.