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Mayur Floorings Ltd. Earnings Release 2026
63305_rns_2026-05-25_7cc93281-4c11-43d4-8e91-54e964ae1636.pdf
Earnings Release
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MAYUR FLOORINGS LIMITED
Plot No 5&6 (A), Road No 4, Dahod Road Industrial Area, Banswara Rajasthan, India 327001
Phone No: 9414102109 CIN: L99999MH1992PLC064993
Email: [email protected] Website: www.mayurflooringslimited.com
Date: 25.05.2026
Online Upload
To,
The Assistant General Manager,
The Stock Exchange Mumbai, PJ Towers
Dalal Street, Fort, Mumbai - 400001
Email: [email protected]
Re: Outcome of the Board Meeting
Ref: Listing Code No 531221.
Dear Sir,
In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI Listing Regulations"), this is to inform you that the Board of Directors ("Board") of the Company at their meeting held today i.e., Monday, 25th May 2026;
| Sn | Agenda | Outcome of Board Meeting |
|---|---|---|
| 01 | Report of various committees | The Board reviewed reports submitted by various committees. |
| 02 | To consider, approve and adopt the audited financial results of the Company for the financial year ended as on 31/03/2026. | The Audited Financial Results for the year ended 31st March 2026 were approved and adopted by the Board upon recommendation from the Audit Committee. |
| 03 | Appointment / Resignation of office bearers (Such as Auditor, Secretarial Auditor, Scrutinizers, Company Secretary, Director etc.), if any. | The Board has approved the appointment/reappointment of Statutory Auditor, Internal Auditor, Scrutinizer, Secretarial Auditor, and other office bearers as per statutory requirements. |
| 04 | To take note of disclosures of interest received from Directors for the Financial Year 2026-27. | The Board took note of Disclosure of Interest received from Directors for FY 2026-27. |
| 05 | Authorization for statutory work & filings, if any. | The Board authorized Directors Shri Mahavir Sundrawat and Shri Mayur Sundrawat to handle statutory compliance, execute filings & related matters either jointly or severally as the case may be. This authorization shall be valid for the FY 2025-26. |
| 06 | Performance review & business proposal, if any. | Performance review and business proposal is done. |
| 07 | Any other matter with the permission of the Chairman. | |
| A) To consider and approve availing of a loan/credit facility up to an amount not exceeding ₹50 Lakhs from a bank or other sources. | The Board considered and approved availing of a loan/credit facility up to an amount not exceeding ₹50 Lakhs from a bank or other sources. |
MAYUR FLOORINGS LIMITED
Plot No 5&6 (A), Road No 4, Dahod Road Industrial Area, Banswara Rajasthan, India 327001
Phone No: 9414102109 CIN: L99999MH1992PLC064993
Email: [email protected] Website: www.mayurflooringslimited.com
The meeting of the Board of Directors of the Company was commenced at 05:00 P.M. and concluded at 05:25 P.M. The Financial Results will be available on the website of the Company i.e., www.mayurflooringslimited.com.
Please take the same on records in total compliance of applicable regulation(s) of the SEBI (Listing Obligations and Disclosure Requirements) 2015 and other applicable provision, if any.
Please note that in terms of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015, the trading window for dealing in the securities of the Company will open after 48 hours of the declaration of the results.
Thanking You,
Yours faithfully,
For: Mayur Floorings Limited
Mahavir N
Sundrawa
t
Digitally signed
by Mahavir N
Sundrawat
Date:2026.05.25
17:43:53 +05'30'
Mahavir N Sundrawat
(Managing Director – DIN: 01928303)
MAYUR FLOORINGS LIMITED
Plot No 5&6 (A), Road No 4, Dahod Road Industrial Area, Banswara Rajasthan, India 327001
Phone No: 9414102109 CIN: L99999MH1992PLC064993
Email: [email protected] Website: www.mayurflooringslimited.com
| Statement of Audited Financial Results for the Quarter and Year ended as on March 31, 2026. | ||||||
|---|---|---|---|---|---|---|
| Sr. No. | Particulars (Rs in Lacs) | Quarter ended | Year Ended | |||
| 31.03.2026 | 31.12.2025 | 31.03.2025 | 31.03.26 | 31.03.25 | ||
| Audited | Un-Audited | Audited | Audited | Audited | ||
| 1 | Revenue from Operations | 252.62 | 245.47 | 144.39 | 884.02 | 630.18 |
| Other Income | 0.00 | 0.00 | 0.01 | 0.00 | 0.01 | |
| Total Income | 252.62 | 245.47 | 144.40 | 884.02 | 630.19 | |
| 2 | Expenses | |||||
| Cost of materials consumed | 129.12 | 117.29 | 66.30 | 747.09 | 288.95 | |
| Purchase of traded goods | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Change in Inventories of finished goods, stock in trade and work in progress | -2.93 | 12.70 | -3.80 | 8.78 | 12.66 | |
| Employees benefit expenses | 16.22 | 15.82 | 16.67 | 24.60 | 63.40 | |
| Finance Cost | 8.59 | 6.22 | 4.18 | 26.14 | 18.22 | |
| Depreciation and amortisation expenses | 6.90 | 7.05 | 4.23 | 27.06 | 17.01 | |
| Other expenses | 85.55 | 79.81 | 53.38 | 29.97 | 218.27 | |
| Total Expenses | 243.45 | 238.89 | 140.96 | 863.64 | 618.51 | |
| 3 | Profit before exceptional and extraordinary items and tax | 9.17 | 6.58 | 3.44 | 20.38 | 11.68 |
| 4 | Exceptional items | 0 | 0.00 | 139.37 | 0 | 139.37 |
| 5 | Profit/Loss after exceptional items and before tax | 9.17 | 6.58 | -135.93 | 20.38 | -127.69 |
| 6 | Tax expense | 0.3 | 0.30 | 2.31 | 5.69 | 2.31 |
| 7 | Net Profit/ Loss for the period | 8.87 | 6.28 | -138.24 | 14.69 | -130.00 |
| 8 | Other Comprehensive Income | 0 | 0 | 0.00 | 0 | 0.00 |
| A | (i) Items that will not be reclassified to profit or loss | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (ii) Income tax relating to item that will not be reclassified to profit or loss | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| B | (i) Items that will be reclassified to profit or loss | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| (ii) Income tax relating to items that will be reclassified to Profit or loss | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Total Other comprehensive income net of taxes | 0.00 | 0.00 | -138.24 | 0.00 | -130.00 | |
| 9 | Total Comprehensive Income for the period | 0.00 | 0.00 | -138.24 | 0.00 | -130.00 |
| 10 | Paid-up equity share capital | 507.12 | 507.12 | 507.12 | 507.12 | 507.12 |
| 11 | Other Equity | 0.18 | 0.00 | 0.00 | 0.29 | 0.00 |
| 12 | Earning per equity share of Rs.10/- each | |||||
| a) Basic and Diluted | 0.18 | 0.13 | -2.57 | 0.29 | -2.57 | |
| Notes: 1. These Audited standalone financial results of the Company have been prepared in accordance with the Indian Accounting Standards ("IndAS") as prescribed under Section 133 of the Companies Act, 2013, as amended, read with relevant rules there under and in terms of Regulation 33 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations 2015 ("the Regulations"). 2. The above results were taken on record and approved in the meeting held on 25.05.2026 after review by audit committee. 3. Previous period figures were regrouped, wherever necessary. 4. Since more than 90% revenue of the Company comes from single segment, segment reporting has not been given. 5. Trial run of the Ball mill plant completed during the quarter ended as on date. | ||||||
| For and on behalf of the Board of Directors of Mayur Floorings Limited Mahavir N Sundrawat Subdrawal Date: 25.05.2026 Mahavir N Sundrawat Managing Director DIN: 01928303 Place: Banswara Date: 25/05/2026 |
MAYUR FLOORINGS LIMITED
Plot No 5&6 (A), Road No 4, Dahod Road Industrial Area, Banswara Rajasthan, India 327001
Phone No: 9414102109 CIN: L99999MH1992PLC064993
Email: [email protected] Website: www.mayurflooringslimited.com
| STATEMENT OF ASSETS AND LIABILITIES AS ON 31.03.2026 | ||
|---|---|---|
| Particulars (Rs in Lakhs) | 31.03.26 | 31.03.25 |
| A. Assets | ||
| Non-current Assets | ||
| a) Property, plant and Equipment | 539.54 | 524.32 |
| b) Intangible Assets | 0.00 | 0.00 |
| c) Capital work-in-progress | 0.00 | 0.00 |
| Non-current Assets | 539.54 | 524.32 |
| Current Assets | ||
| a) Inventories | 41.40 | 49.42 |
| b) Trade receivables | 242.02 | 91.54 |
| c) Cash and cash equivalents | 1.72 | 0.33 |
| d) Loans | 11.04 | 30.88 |
| e) Others | 71.63 | 0.00 |
| Current assets | 367.81 | 172.17 |
| Total Assets | 907.35 | 696.49 |
| B. Equity and Liability | ||
| EQUITY | ||
| (a) Equity Share Capital | 507.12 | 507.12 |
| (b) Other Equity | -100.85 | -163.44 |
| Equity | 406.27 | 343.68 |
| LIABILITIES | ||
| Non-current Liabilities | ||
| a) Financial Liabilities | ||
| (i) Borrowings | 364.25 | 232.42 |
| (ii) Other long-term liabilities | 0.00 | 7.06 |
| Non-current liability | 364.25 | 239.48 |
| Current Liabilities | ||
| (i) Borrowings | 0.00 | 52.13 |
| (ii) Trade payables | 88.48 | 46.57 |
| (a) Total outstanding dues of micro enterprises and small enterprises; and | 0.00 | 9.79 |
| (b) Total outstanding dues of creditors other than micro enterprises and small enterprise. | 88.48 | 36.78 |
| (iii) Other current liabilities | 14.03 | 11.64 |
| (iv) Provisions | 34.31 | 2.99 |
| Current liabilities | 136.82 | 113.33 |
| Total Equity and Liabilities | 907.35 | 696.49 |
| For and on behalf of the Board of Directors of Mayur Floorings Limited | ||
| Mahavir N | ||
| Signature: Digitally signed by | ||
| Mahavir N Sundrawat | ||
| Date: 2026.03.25 | ||
| 17:27:10 +00'30' | ||
| Mahavir N Sundrawat | ||
| Managing Director | ||
| DIN: 01928303 | ||
| Place: Banswara | ||
| Date: 25/05/2026 |
MAYUR FLOORINGS LIMITED
Plot No 5&6 (A), Road No 4, Dahod Road Industrial Area, Banswara Rajasthan, India 327001
Phone No: 9414102109 CIN: L99999MH1992PLC064993
Email: [email protected] Website: www.mayurflooringslimited.com
| CASH FLOW STATEMENT FOR THE QUARTER AND YEAR ENDED 31 MARCH, 2026 | ||
|---|---|---|
| Particulars (Rs in Lakhs) | For Year Ended 31st March, 2026 | For Year Ended 31st March, 2025 |
| CASH FLOW FROM OPERATING ACTIVITIES | ||
| Net Profit/(Loss) Before Taxation | 20.41 | 11.68 |
| Adjustment For | ||
| (+) Interest Expenses | 0.00 | 0.00 |
| (+) Depreciation and Amortisation Expenses | 27.06 | 17.02 |
| (+) Interest expense | 26.14 | 18.21 |
| (-) Interest Income | 0.00 | 0.00 |
| (+) Dividend Income | 0.00 | 0.00 |
| Operating Profit Before Working Capital Changes | 73.61 | 46.91 |
| (Increase)/Decrease in Other Non-Financial Assets | -23.75 | 0.00 |
| (Increase)/Decrease in Inventory | 8.02 | 27.40 |
| (Increase)/Decrease in Trade Receivables,Current | -150.48 | -31.91 |
| Decrease / (Increase) in loans and advances | 0.00 | 0.00 |
| (Increase)/Decrease in Financial Assets | 19.84 | -7.32 |
| Increase/(Decrease) in Trade Payables,current | 41.89 | 5.77 |
| Decrease / (Increase) in loans and advances | 0.00 | 0.00 |
| Increase/(Decrease) in Financial Liabilities | -2.99 | 96.70 |
| Increase/(Decrease) in Other Non-Financial Liabilities | 24.98 | 1.65 |
| Cash Generated from Operations | -8.88 | 139.20 |
| Add/(Less): Income Tax Paid | -1 | -2.31 |
| Add/(Less): Income Tax Refund | 0.00 | 0.97 |
| NET CASH FLOW FROM OPERATING ACTIVITIES | -9.88 | 137.86 |
| CASH FLOW FROM INVESTING ACTIVITIES | ||
| (Purchase)/Sale of Property, Plant and Equipment/Other Intangible Assets | -42.28 | -121.04 |
| (Purchase)/Sale of Right of Use of Assets | 0.00 | 0.00 |
| Investments made during the year | 0.00 | 0.00 |
| Investment sold during the year | 0.00 | 0.00 |
| Interest Income received during the year | 0.00 | 0.00 |
| NET CASH FLOW/(USED) IN INVESTING ACTIVITIES | -42.28 | -121.04 |
| CASH FLOW FROM FINANCING ACTIVITIES | ||
| Proceeds from Borrowings | 0.00 | 0.00 |
| Interest Paid | 0.00 | 0.00 |
| Finance Cost | -26.15 | -18.21 |
| Share application Money Received | 0.00 | 0.00 |
| Dividend Paid (Including DDT) | 0.00 | 0.00 |
| Loans Taken | 0.00 | 0.00 |
| Loans Repaid | 79.70 | 0.00 |
| NET CASH FLOW/(USED) IN FINANCING ACTIVITIES | 53.55 | -18.21 |
| Net Increase/(Decrease) in Cash and Cash Equivalents | 1.39 | -1.39 |
| Cash and cash equivalents cash flow statement at beginning of period | 0.33 | 1.72 |
| Cash and cash equivalents cash flow statement at end of period | 1.72 | 0.33 |
| For and on behalf of the Board of Directors of Mayur Floorings Limited | ||
| Mahavir N | ||
| Signature | ||
| Sundrawat | ||
| Signature | ||
| Date: 2026.05.25 | ||
| 13:27:29 +00'00' | ||
| Mahavir N Sundrawat | ||
| Managing Director | ||
| DIN: 01928303 | ||
| Place: Banswara | ||
| Date: 25/05/2026 |
MAYUR FLOORINGS LIMITED
Plot No 5&6 (A), Road No 4, Dahod Road Industrial Area, Banswara Rajasthan, India 327001
Phone No: 9414102109 CIN: L99999MH1992PLC064993
Email: [email protected] Website: www.mayurflooringslimited.com
Date: 25.05.2026
Online Upload / Listing Centre
To,
The Asst. General Manager,
Department of Corporate Services,
PJ Towers, Dalal Street, Fort, Mumbai – 400001
Email: [email protected]
Re: Declaration pursuant to Reg. 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Ref: BSE Listing Code No 531221.
Dear Sir,
This is with reference to the captioned subject, we hereby declare that M/s Bansilal Shah and Company Statutory Auditors of the Company, have issued an audit report with unmodified opinion, on Audited Financial Results of the Company for the quarter / financial year ended on 31st March, 2026. This declaration is given in compliance of Regulation 33(3)(d) of the SEBI (Listing Obligations and Disclosure Requirements), 2015.
Please take the same on records.
Thanking You,
Yours faithfully,
For: Mayur Floorings Limited
Mahavir N Sundrawat
Sundrawat
172745 +97 97
Mahavir N Sundrawat
Managing Director
DIN: 01928303
STATUTORY AUDIT REPORT
MAYUR FLOORINGS LIMITED
FOR THE FINANCIAL YEAR ENDED 31ST MARCH 2026
INDEPENDENT AUDITOR'S REPORT
To,
The Members of
MAYUR FLOORINGS LIMITED
Opinion
We have audited the accompanying standalone financial statements of Mayur Floorings Limited ("the Company"), which comprise the Balance Sheet as at 31st March 2026, the Statement of Profit and Loss including Other Comprehensive Income, the Statement of Changes in Equity and the Statement of Cash Flows for the year then ended, together with notes forming part of the standalone financial statements, including a summary of significant accounting policies and other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Companies Act, 2013 ("the Act") in the manner so required and give a true and fair view in conformity with the Indian Accounting Standards prescribed under Section 133 of the Act read with the Companies (Indian Accounting Standards) Rules, 2015, as amended, and other accounting principles generally accepted in India, of the state of affairs of the Company as at 31st March 2026, and its profit including other comprehensive income, changes in equity and cash flows for the year ended on that date.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under Section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor's Responsibilities for the Audit of the Standalone Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with ethical requirements relevant to our audit of the standalone financial statements under the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI's Code of Ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone financial statements.
2
Going Concern
The management and Board of Directors are responsible for the assessment of the Company's ability to continue as a going concern. In performing our audit procedures, we evaluated management's assumptions, cash flow projections, financing arrangements and other supporting information relevant to the going concern assessment.
Based on our examination and according to the information and explanations made available to us, nothing has come to our attention that causes us to believe that any material uncertainty exists as on the date of this report that may cast significant doubt on the ability of the Company to continue as a going concern for a period of at least twelve months from the balance sheet date. We, however, state that this is not an assurance as to the future viability of the Company.
Key Audit Matters
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the standalone financial statements for the current year. These matters were addressed in the context of our audit of the standalone financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
| Key Audit Matter | Description | Audit Response |
|---|---|---|
| Valuation and Existence of Inventories | Inventories comprise raw materials, work-in-progress, finished goods and stock-in-trade and constitute a significant portion of current assets. Valuation involves management judgement in determination of net realisable value and risk of obsolescence. | Physical verification records were reviewed and observed. Valuation methodology was tested for compliance with Ind AS 2 (lower of cost and NRV). Ageing analysis of slow-moving items was verified. Adequacy of write-downs assessed. |
| Revenue Recognition — Sale of Flooring Products | Revenue recognition involves assessment of transfer of control to customers, cut-off procedures and significant transaction volumes across multiple customer segments. Risk of premature or delayed recognition exists near year end. | Sample sales invoices, dispatch records and delivery confirmations were tested. Cut-off procedures tested for transactions near 31 March 2026. Credit notes issued post year-end reviewed for completeness of returns. Compliance with Ind AS 115 assessed. |
| Property, Plant and Equipment | PPE constitutes a significant portion of total assets. Depreciation and useful life assessment require management judgement and compliance with Schedule II of the Companies Act, 2013. | Additions during the year verified with supporting documentation. Depreciation workings and useful life assumptions verified against Schedule II. Physical verification records reviewed. Disposals tested for proper accounting. |
3
Other Information
The Company's Board of Directors is responsible for the preparation of the other information. The other information comprises the information included in the Board's Report and annexures thereto but does not include the standalone financial statements and our auditor's report thereon.
Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained during the course of our audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements
The Company's Board of Directors is responsible for the matters stated in Section 134(5) of the Act with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position, financial performance including other comprehensive income, changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards specified under Section 133 of the Act.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the standalone financial statements, management is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. The Board of Directors is also responsible for overseeing the Company's financial reporting process.
4
Auditor's Responsibilities for the Audit of the Standalone Financial Statements
Our objectives are to obtain reasonable assurance about whether the standalone financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial statements.
A further description of our responsibilities for the audit of the standalone financial statements is included in Appendix I to this Auditor's Report.
Report on Other Legal and Regulatory Requirements
As required by the Companies (Auditor's Report) Order, 2020 ("the Order") issued by the Central Government of India in terms of Section 143(11) of the Act, we give in Annexure "A" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
Further, as required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.
(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our examination of those books.
(ba) On the basis of written representations received from the directors and management as at 31st March 2026, no material transactions or events have occurred after the balance sheet date which are required to be disclosed but have not been disclosed in the standalone financial statements.
(c) The Balance Sheet, the Statement of Profit and Loss including Other Comprehensive Income, the Statement of Changes in Equity and the Statement of Cash Flows dealt with by this Report are in agreement with the books of account.
(d) In our opinion, the aforesaid standalone financial statements comply with the Indian Accounting Standards specified under Section 133 of the Act.
(e) There are no observations or qualifications on the standalone financial statements which have an adverse effect on the functioning of the Company.
(f) On the basis of the written representations received from the directors as on 31st March 2026 taken on record by the Board of Directors, none of the directors is disqualified as on 31st March 2026 from being appointed as a director in terms of Section 164(2) of the Act.
(g) There are no observations or comments on financial transactions or matters which have any adverse effect on the functioning of the Company.
(h) With respect to the adequacy of the internal financial controls with reference to the standalone financial statements of the Company and the operating effectiveness of such controls, refer to our separate report in Annexure "B".
With respect to the other matters to be included in the Auditor's Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, as amended, in our opinion and to the best of our information and according to the explanations given to us:
i. The Company has disclosed the impact of pending litigations on its financial position. There are no material pending litigations against the Company which would have a material impact on its financial position as at 31st March 2026.
ii. The Company did not have any long-term contracts including derivative contracts for which there were any material foreseeable losses.
iii. There were no amounts which were required to be transferred to the Investor Education and Protection Fund by the Company during the year ended 31st March 2026.
iv. (a) Management has represented that, to the best of its knowledge and belief, no funds have been advanced or loaned or invested (either from borrowed funds or share premium or any other sources or kind of funds) by the Company to or in any other persons or entities, including foreign entities ("Intermediaries"), with the understanding, whether recorded in writing or otherwise, that the Intermediary shall: (i) directly or indirectly lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Company; or (ii) provide any guarantee, security or the like to or on behalf of the Ultimate Beneficiaries.
(b) Management has represented that, to the best of its knowledge and belief, no funds have been received by the Company from any persons or entities, including foreign entities ("Funding Parties"), with the understanding, whether recorded in writing or otherwise, that the Company shall: (i) directly or indirectly, lend or invest in other persons or entities identified in any manner whatsoever ("Ultimate Beneficiaries") by or on behalf of the Funding Party; or (ii) provide any guarantee, security or the like from or on behalf of the Ultimate Beneficiaries.
(c) Based on such audit procedures as considered reasonable and appropriate in the circumstances, nothing has come to our notice that has caused us to believe that the representations under sub-clause (a) and (b) above contain any material misstatement.
v. The Company has neither declared nor paid any dividend during the year ended 31st March 2026. Accordingly, the reporting on compliance with the requirements of Section 123 of the Act is not applicable.
vi. Based on our examination, which included test checks, the Company has used Tally accounting software for maintaining its books of account for the financial year ended 31st March 2026, which has a feature of recording audit trail (edit log) facility and the same has been enabled and has operated throughout the year for all relevant transactions recorded in the software. During the course of our audit, we did not come across any instance of the audit trail feature being tampered with or disabled.
5
With respect to the matter to be included in the Auditor's Report under Section 197(16) of the Act:
In our opinion and according to the information and explanations given to us, the remuneration paid by the Company to its directors during the current year is in accordance with the provisions of Section 197 of the Act. The remuneration paid to any director is not in excess of the limit laid down under Section 197 of the Act. No excess remuneration has been paid to any director of the Company during the year ended 31st March 2026.
For BANSILAL SHAH & CO
Chartered Accountants
Firm Registration No.: 000384W
Dhruv Shah
Digitally signed by Dhruv Shah
Date: 2026.05.25 12:23:25 +05'30'
DHRUV SHAH
Partner
Membership No.: 223609
Place: Udaipur Date: 25.05.2026
UDIN: 26223609EYDFDP5510
7
APPENDIX I TO THE INDEPENDENT AUDITOR'S REPORT
[Referred to in the Auditor's Responsibilities section of our Independent Auditor's Report of even date to the Members of Mayur Floorings Limited on the standalone financial statements for the year ended 31st March 2026]
Further Description of our Responsibilities for the Audit of the Standalone Financial Statements
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has adequate internal financial controls system in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
-
Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Company to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures, and whether the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the standalone financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
For BANSILAL SHAH & CO
Chartered Accountants
Firm Registration No.: 000384W
Dhruv Shah
Digitally signed by Dhruv Shah
Date: 2026.05.25 12:23:59 +05'30'
DHRUV SHAH
Partner
Membership No.: 223609
Place: Udaipur Date: 25.05.2026
UDIN: 26223609EYDFDP5510
9
ANNEXURE "A" TO THE INDEPENDENT AUDITOR'S REPORT
[Referred to in paragraph under 'Report on Other Legal and Regulatory Requirements' in our Independent Auditor's Report of even date to the Members of Mayur Floorings Limited on the standalone financial statements for the year ended 31st March 2026]
Statement on matters specified in paragraphs 3 and 4 of the Companies (Auditor's Report) Order, 2020
(i) Property, Plant and Equipment
(a) The Company has maintained proper records showing full particulars, including quantitative details and situation of Property, Plant and Equipment.
(b) The Property, Plant and Equipment have been physically verified by the management at reasonable intervals during the year. No material discrepancies were noticed on such verification.
(c) According to the information and explanations given to us and on the basis of our examination of the records of the Company, no revaluation of Property, Plant and Equipment (including Right-of-Use assets) and intangible assets has been done by the Company during the year. Accordingly, reporting under clause 3(i)(c) of the Order is not applicable.
(d) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no proceedings initiated or pending against the Company as at 31st March 2026 for holding any benami property under the Benami Transactions (Prohibition) Act, 1988 (as amended in 2016) and rules made thereunder.
(ii) Inventories and Working Capital
(a) The Company is a manufacturing and trading concern and accordingly holds inventory. Inventories have been physically verified by the management at reasonable intervals during the year. In our opinion, the coverage and procedure of physical verification carried out by the management is appropriate. No material discrepancies were noticed on verification between the physical stocks and the book records.
(b) According to the information and explanations given to us and on the basis of our examination of the records, the Company has been sanctioned working capital credit limits by State Bank of India, Banswara Branch — Cash Credit limit of Rs. 115.00 Lakhs; outstanding balance as at 31st March 2026 was Rs. 104.31 Lakhs, secured by hypothecation of current assets and other collateral security. The working capital limit sanctioned is below Rs. 5 Crores in aggregate and accordingly the provisions relating to quarterly filing of statements with the bank under this clause do not apply. The working capital statements submitted to the bank are in agreement with the books of account.
(iii) Loans and Advances — Section 189
The Company has not granted any loans, secured or unsecured, to companies, firms, Limited Liability Partnerships or other parties covered in the register maintained under Section 189 of the Companies Act, 2013. Accordingly, the provisions of clauses 3(iii)(a) to 3(iii)(c) of the Order are not applicable to the Company.
(iv) Loans, Investments, Guarantees and Security — Sections 185 and 186
In our opinion and according to the information and explanations given to us, the provisions of Sections 185 and 186 of the Companies Act, 2013 in respect of loans, investments, guarantees and security are applicable to the Company and the Company has complied with the said provisions.
(v) Deposits
In our opinion and according to the information and explanations given to us, the Company has not accepted any deposits or amounts which are deemed to be deposits from the public within the meaning of Sections 73 to 76 of the Companies Act, 2013 and the rules made thereunder. Accordingly, this clause is not applicable.
(vi) Cost Records
The maintenance of cost records has not been specified by the Central Government under sub-section (1) of Section 148 of the Companies Act, 2013 for the business activities of the Company. Accordingly, this clause is not applicable.
(vii) Statutory Dues
(a) According to the information and explanations given to us and on the basis of our examination of the books of account and records, the Company has been generally regular in depositing undisputed statutory dues including Provident Fund, Income Tax, Goods and Services Tax and other applicable statutory dues with the appropriate authorities. According to the information and explanations given to us, no undisputed amounts payable in respect of the above were in arrears as at 31st March 2026 for a period of more than six months from the date on which they became payable.
(b) According to the information and explanations given to us and on the basis of our examination of the records of the Company, there are no dues of Income Tax, Goods and Services Tax, Customs Duty or other statutory dues which have not been deposited on account of any dispute as at 31st March 2026.
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(viii) Transactions Not Recorded in Books
According to the information and explanations given to us and on the basis of our examination of the records of the Company, the Company has not surrendered or disclosed any transactions, previously unrecorded as income in the books of account, that have been surrendered or disclosed as income during the year in any tax assessments under the Income-tax Act, 1961. Accordingly, reporting under clause 3(viii) of the Order is not applicable.
(ix) Borrowings
(a) In our opinion and according to the information and explanations given to us, the Company has not defaulted in repayment of loans or other borrowings or in the payment of interest thereon to any lender.
(b) According to the information and explanations given to us and on the basis of our audit procedures, the Company has not been declared a willful defaulter by any bank or financial institution or government or any government authority.
(c) The Company has availed / renewed term loans during the year, details of which are as follows:
| S.No. | Nature of Loan | Amount Outstanding as on 31.03.2026 (Rs) |
|---|---|---|
| 01 | SBI (EB-MSME-TL) | 68,41,364 |
| 02 | SBI Term Loan | 82,71,018 |
| Total | 1,51,12,382 |
The above term loans have been utilised for the purposes for which they were obtained.
(d) According to the information and explanations given to us and on an overall examination of the financial statements of the Company, no funds raised on short-term basis have been utilised for long-term purposes.
(e) According to the information and explanations given to us and on an overall examination of the financial statements of the Company, the Company has not taken any funds from any entity or person on account of or to meet the obligations of its subsidiaries, associates or joint ventures. The Company does not have any subsidiaries, associates or joint ventures. Accordingly, reporting under clause 3(ix)(e) of the Order is not applicable.
(f) According to the information and explanations given to us and procedures performed by us, the Company has not raised any loans during the year on the pledge of securities held in its subsidiaries, joint ventures or associate companies. Accordingly, reporting under clause 3(ix)(f) of the Order is not applicable.
(x) Fund Raising
(a) The Company has not raised any money by way of initial public offer or further public offer (including debt instruments) during the year. Accordingly, reporting under clause 3(x)(a) of the Order is not applicable.
(b) The Company has not made any preferential allotment or private placement of shares or fully, partially or optionally convertible debentures during the year. Accordingly, reporting under clause 3(x)(b) of the Order is not applicable.
(xi) Fraud
(a) According to the information and explanations given to us and as represented by the management, and based on our examination of the books and records of the Company carried out in accordance with generally accepted auditing practices in India, no fraud by the Company or any fraud on the Company has been noticed or reported during the year.
(b) During the year, no report under sub-section (12) of Section 143 of the Companies Act, 2013 has been filed by us or the secretarial auditor in Form ADT-4 as prescribed under Rule 13 of the Companies (Audit and Auditors) Rules, 2014 with the Central Government, during the year and up to the date of this audit report.
(c) As per the information and explanations given by the Company, no whistle blower complaint has been received by the Company during the year.
(xii) Nidhi Company
In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company as per the provisions of the Companies Act, 2013. Accordingly, reporting under clause 3(xii)(a), (b) and (c) of the Order is not applicable.
(xiii) Related Party Transactions
In our opinion, all transactions with the related parties are in compliance with Sections 177 and 188 of the Companies Act, 2013 and the details have been disclosed in the standalone financial statements as required by the applicable accounting standards.
12
(xiv) Internal Audit
(a) The Company has an internal audit system commensurate with its size and nature of business. Internal audit is conducted by a qualified professional. The internal audit reports for the periods covered by our statutory audit have been considered by us in determining the nature, timing and extent of our audit procedures.
(b) In our opinion, the scope, coverage, methodology and frequency of the internal audit is commensurate with the size and nature of the Company's business. The internal audit is carried out as per the internal audit plan approved by the Board of Directors.
(xv) Non-Cash Transactions with Directors
Based upon the audit procedures performed and the information and explanations given by the management, the Company has not entered into any non-cash transactions with directors or persons connected with them. Accordingly, reporting under clause 3(xv) of the Order is not applicable.
(xvi) Registration under RBI Act
(a) In our opinion and according to the information and explanations given to us, the Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, reporting under clause 3(xvi)(a) is not applicable.
(b) The Company has not conducted any Non-Banking Financial or Housing Finance activities and is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934. Accordingly, reporting under clause 3(xvi)(b) is not applicable.
(c) The Company is not a Core Investment Company (CIC) as defined in the regulations made by the Reserve Bank of India. Accordingly, reporting under clause 3(xvi)(c) is not applicable.
(d) In our opinion, there is no Core Investment Company within the Group as defined in the Core Investment Companies (Reserve Bank) Directions, 2016. Accordingly, reporting under clause 3(xvi)(d) is not applicable.
(xvii) Cash Losses
The Company has not incurred any cash losses in the financial year ended 31st March 2026 or in the immediately preceding financial year ended 31st March 2025.
13
(xviii) Resignation of Statutory Auditor
There has been no resignation of the statutory auditor during the year. Accordingly, reporting under clause 3(xviii) of the Order is not applicable.
(xix) Going Concern
On the basis of financial ratios, ageing and expected dates of realisation of financial assets and payment of financial liabilities, other information accompanying the financial statements, our knowledge of the Board of Directors and management plans, and based on our examination of the evidence supporting the assumptions, nothing has come to our attention which causes us to believe that any material uncertainty exists as on the date of this audit report indicating that the Company is incapable of meeting its liabilities existing at the date of the balance sheet as and when they fall due within a period of one year from 31st March 2026. We, however, state that this is not an assurance as to the future viability of the Company. We further state that our reporting is based on the facts up to the date of the audit report.
(xx) Corporate Social Responsibility
(a) In our opinion and according to the information and explanations given to us, there are no unspent amounts towards Corporate Social Responsibility (CSR) on other than ongoing projects requiring a transfer to a fund specified in Schedule VII to the Act in compliance with the second proviso to sub-section (5) of Section 135 of the Act. Accordingly, reporting under clause 3(xx)(a) of the Order is not applicable for the year.
(b) The provisions of Section 135 of the Companies Act, 2013 relating to Corporate Social Responsibility are not applicable to the Company for the year under audit. Accordingly, reporting under clause 3(xx)(b) of the Order is not applicable.
(xxi) Consolidated Financial Statements
The Company does not have any subsidiary company. Accordingly, the Company is not required to prepare Consolidated Financial Statements. Reporting under clause 3(xxi) of the Order is not applicable.
14
For BANSILAL SHAH & CO
Chartered Accountants
Firm Registration No.: 000384W
Dhruv Shah
Digitally signed by Dhruv Shah
Date: 2026.05.25 12:24:25 +05'00'
DHRUV SHAH
Partner
Membership No.: 223609
Place: Udaipur Date: 25.05.2026
UDIN: 26223609EYDFDP5510
16
ANNEXURE "B" TO THE INDEPENDENT AUDITOR'S REPORT
[Referred to in clause (h) of paragraph on Section 143(3) in our Independent Auditor's Report of even date to the Members of Mayur Floorings Limited on the standalone financial statements for the year ended 31st March 2026]
Report on the Internal Financial Controls over Financial Reporting under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 ("the Act")
We have audited the internal financial controls over financial reporting of Mayur Floorings Limited ("the Company") as of 31st March 2026 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.
Management's Responsibility for Internal Financial Controls
The Company's management is responsible for establishing and maintaining internal financial controls based on the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India ("ICAI"). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to the Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013.
Auditors' Responsibility
Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the "Guidance Note") and the Standards on Auditing to the extent applicable to an audit of internal financial controls, both issued by the ICAI. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgement, including the assessment of the risks of material misstatement of the standalone financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporting.
Meaning of Internal Financial Controls over Financial Reporting
A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of standalone financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that:
- pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company;
- provide reasonable assurance that transactions are recorded as necessary to permit preparation of standalone financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorisations of management and directors of the Company; and
- provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or disposition of the Company's assets that could have a material effect on the standalone financial statements.
Inherent Limitations of Internal Financial Controls over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at 31st March 2026, based on the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India.
For BANSILAL SHAH & CO
Chartered Accountants
Firm Registration No.: 000384W
Dhruv
Shah
Digitally signed by Dhruv Shah
Date: 2026.05.25 12:28:46 +05'00'
DHRUV SHAH
Partner
Membership No.: 223609
Place: Udaipur Date: 25.05.2026
UDIN: 26223609EYDFDP5510
