MV Electrosystems Limited Announces Q1 Results, Appoints Auditors, and Sets Date for 17th AGM
MV Electrosystems Limited held its Board of Directors meeting on August 25, 2026, where it considered and approved the un-audited financial results for the quarter ending June 30, 2026. The company also finalized the appointment of its Secretarial and Internal Auditors for the upcoming financial year and announced the date for its 17th Annual General Meeting (AGM).Financial Performance for the Quarter Ended June 30, 2026
The company’s un-audited financial results for the quarter ended June 30, 2026, were reviewed and recommended by the Audit Committee and subsequently approved by the Board. The results showed a loss for the quarter, while the company also incurred a cash loss.Key unaudited figures for the quarter are summarized below:
| Metric | Value (INR) |
|---|---|
| Revenue from Operations | 127.71 |
| Total Income | 127.98 |
| Total Expenses | 208.36 |
| Profit/(loss) before Tax | (80.38) |
| Profit for the Quarter | (68.86) |
| Basic Earnings Per Share | (3.38) |
The company has appointed M/s Sanmarks & Associates as the Statutory Auditors, who provided a Limited Review Report on the quarterly results. The auditor’s report drew attention to the cash loss incurred during the quarter, noting that the incurrence of cash losses in two consecutive quarters indicates financial stress. Despite this, the company's management assessed that the going concern basis of preparation remains appropriate.
Key Appointments Made by the Board
The Board meeting confirmed the appointment of two external auditing firms:Secretarial Auditors:
M/s Taruna Kalra & Associates, Practising Company Secretaries, were appointed as the Secretarial Auditors of the Company for the period spanning the financial year 2026-27 up to and including the financial year 2030-31. This appointment is subject to the approval of the Company’s Members.
Internal Auditors:
M/s G B S G & Associates, Chartered Accountants, were appointed as the Internal Auditors of the Company for the financial year 2026-27.
Details of the 17th Annual General Meeting
The Board confirmed the convening of the 17th Annual General Meeting (AGM) on Tuesday, September 29, 2026, which will be held through Video Conferencing (VC) or Other Audio-Visual Means (OAVM).Details pertaining to the AGM are as follows:
- AGM Date: September 29, 2026.
- Members Entitlement Cut-off Date: September 22, 2026.
- Remote E-voting Period: September 26, 2026, to September 28, 2026.
- Scrutinizer: M/s Taruna Kalra & Associates, Practising Company Secretaries, has been appointed to scrutinize the remote e-voting and e-voting at the 17th Annual General Meeting.
The Board meeting commenced at 02:00 P.M (IST) and concluded at 4:00 P.M (IST).
MVELECTRO Stock Price Movement
Shares of MV Electrosystems Limited today slipped by 2.41% to settle at ₹564.15 in post-market trading. The stock saw a strong day, with 367,077 shares traded and an intraday low reaching ₹559.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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