MCL Board Approves Q1 FY26 Unaudited Results, Appoints New Auditors
MCL approved Q1 FY26 unaudited results with a net profit of ₹1.05 crore. The Board accepted the resignation of statutory auditors M/s. P G Hemani & Co. and appointed M/s M P Gohil & Co. as new statutory auditors for a five-year term. The 14th AGM is scheduled for September 25, 2026.
The appointment of new statutory auditors, especially for a multi-year term, is a material event that can impact investor confidence and corporate governance perception. The approval of quarterly results is standard, but auditor changes warrant a medium impact.
The announcement includes routine financial results and significant auditor changes. While the appointment of new auditors is a procedural event, the financial performance is not exceptionally positive or negative, leading to a neutral sentiment.
M TEK COPPER LIMITED (MCL) announced the outcome of its Board Meeting held on August 12, 2026. The Board considered and approved the Unaudited Financial Results for the quarter ended June 30, 2026. The results were previously reviewed by the Audit Committee on the same date.
In significant personnel changes, the Board took note of the resignation of the Company's Statutory Auditors, M/s. P G Hemani & Co. Following a recommendation from the Audit Committee, M/s M P Gohil & Co. Chartered Accountants were appointed as the new Statutory Auditors to fill the casual vacancy. This appointment is subject to shareholder approval at the upcoming Annual General Meeting (AGM). M/s M P Gohil & Co. will serve until the conclusion of the ensuing AGM, and have also been appointed for a term of five consecutive years, commencing from the conclusion of the 2026 AGM until the conclusion of the 2031 AGM, subject to shareholder approval.
The Board also approved the Board's Report for the Financial Year 2025-26. Mr. Ranjit Kumar Singh, Practicing Company Secretary, was appointed as the Scrutinizer for the 14th AGM.
Furthermore, M/S Chetan Gandhi & Associates, Cost Accountants, were appointed to conduct the cost records audit for FY 2026-27. M/s. N S Shah and Co., Chartered Accountant, were appointed as the Internal Auditor for FY 2026-27.
The 14th Annual General Meeting of the Company is scheduled for Friday, September 25, 2026, at 4:00 P.M IST, to be conducted through Video Conferencing. The cut-off date for remote e-voting and e-voting during the AGM is Friday, September 18, 2026. The Notice of the 14th AGM and the Annual Report for FY 2025-26 will be dispatched to shareholders soon.
The unaudited standalone financial results for the quarter ended June 30, 2026, show total revenue from operations at ₹80.26 crore and a net profit after tax of ₹1.05 crore. The meeting commenced at 3:00 P.M and concluded at 5:10 P.M.
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M TEK COPPER LIMITED filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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