Innovative Tyres & Tubes Limited — Board Meeting, 29-07-2025: Outcome of Board Meeting

Innovative Tyres & Tubes Limited has announced a board meeting where they approved the audited financial results for the quarter and year ended March 31, 2025. The company reported a net loss of Rs 16.02 Cr and a negative net worth of Rs 16.29 Cr. Notably, the statutory auditors, Haribhakti & Co. LLP, resigned citing fee viability issues given the company's financial position. Their audit report was qualified, highlighting issues like Rs 0.49 Cr unappropriated advances, a Rs 0.29 Cr GST credit mismatch, unconfirmed debtors/creditors, and Rs 0.69 Cr in unrealized export sales. Additionally, Mr. Robin Chawla's designation was changed to Non-Executive Non-Independent Director.