SBEC Sugar Re-appoints Cost Auditor M/s M.K. Singhal & Co.
SBEC Sugar Ltd's Board of Directors, in a meeting held on August 14, 2026, approved the re-appointment of M/s M.K. Singhal & Co. as the Cost Auditors for the Financial Year 2026-27. The board also took note of the un-audited financial results for the quarter ended June 30, 2026, and the resignation of Mr. Madhur Agarwal as Company Secretary. Additionally, the conversion of debentures by a wholly-owned subsidiary into equity shares and the approval of the notice and directors' report for the 32nd Annual General Meeting were noted. The auditor's report highlighted potential misstatements regarding provision for interest on cane dues and valuation of closing stock, impacting the reported loss for the quarter.
Key Highlights
- M/s M.K. Singhal & Co. re-appointed as Cost Auditors for FY 2026-27.
- Un-audited financial results for Q1 FY27 were approved.
- Resignation of Company Secretary Mr. Madhur Agarwal noted.
- Debenture conversion by subsidiary into equity approved.
- Auditor's report flags potential misstatements in financial results.
Price Impact
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