Mayur Leather Products Reports Quarterly Results with Multiple Audit Concerns

Mayur Leather Products Limited announced its unaudited financial results for the quarter and half year ended September 30, 2025, with the board meeting held on November 14, 2025. The company's auditors issued an adverse review report citing 11 material concerns including going concern uncertainties, missing bank statements, non-compliance with accounting standards, and operational challenges with relocated plant equipment.

Mayur Leather Products Announces Dual Resignations of Company Secretary and Independent Director

Mayur Leather Products Ltd announced two key resignations effective October 13, 2025. Ms. Vaishali Goyal resigned from her position as Company Secretary and Compliance Officer to explore other career opportunities. Additionally, Mr. Sharad Vyas resigned as Non-Executive Independent Director due to pre-occupation and personal commitments. Following Goyal's departure, CEO Rajendra Kumar Poddar and CFO Akhilesh Poddar will temporarily handle compliance duties until a new Company Secretary is appointed. Vyas's resignation also resulted in his cessation from the Audit Committee and Nomination and Remuneration Committee, prompting the Board to reconstitute these committees. Vyas confirmed no material reasons exist for his resignation beyond those stated in his resignation letter. He also holds directorships at Loyal Equipments Limited where he serves on multiple committees.

Mayur Leather Products Publishes Quarterly Financial Results

Mayur Leather Products Limited published its unaudited standalone and consolidated financial results for the quarter ended June 30, 2025. The Board of Directors approved these results on August 14, 2025. The company has published the results in English and regional newspapers and uploaded the information on its website, following regular financial reporting practices.

Mayur Leather Products Reports Loss of Rs 10.28 Lakhs in Q1 FY26, Faces Going Concern Issues

Mayur Leather Products Limited reported a net loss of Rs 10.28 lakhs for the quarter ended June 30, 2025, compared to a loss of Rs 7.48 lakhs in the same quarter last year. The company recorded zero revenue from operations with total expenses of Rs 10.28 lakhs. The board approved quarterly financial results and recommended appointment of new secretarial auditors for 5 years and reappointment of internal auditors. The company will shift its registered office from Jaipur to a new location effective October 1, 2025. The 40th Annual General Meeting is scheduled for September 27, 2025. The auditors issued an adverse opinion citing multiple concerns including going concern uncertainties, non-operational manufacturing activities, bank asset seizures by Canara Bank, and non-filing of income tax returns since FY 2022-23. The company's plant and equipment have been relocated after land was sold through bank auction, though the company is challenging this process at DRT.