Mobile rendering affected by Application.LoadLevel

Upon calling Application.LoadLeve(Application.LoadedLevel); the rendering on my mobile goes haywire. Either the shader, texture or material is going funny as can be seen in the screenshots below: the cubes start to have weird lines.

Given that I'm using the default material, and only 1 directional light, I doubt its anything to do with material. Can anyone advise what to do or perhaps how to debug further?

This does not occur on the desktop simulator. Thanks!