Modern Denim Ltd Board Approves Audited Financial Results

Modern Denim Ltd announced the outcome of its Board Meeting held on June 26, 2026. The Board of Directors approved the Audited Financial Results for the quarter and year ended March 31, 2026. The meeting commenced at 4:30 PM and concluded at 5:00 PM. The company has enclosed the financial results and the Audit Reports issued by the Statutory Auditors, J. T. Shah & Co. The auditors issued a qualified opinion due to non-provision of interest on financial liabilities as per Ind AS 109, amounting to ₹110.75 lacs for cumulative redeemable preference shares, ₹61.41 lacs for secured and unsecured borrowings, and ₹584.96 lacs for non-current borrowing fair valuation. Additionally, the report highlights material uncertainties related to going concern, referencing a scheme of compromise, arrangement, and amalgamation filed with the NCLT.