Appointment of Internal Auditor and Secretarial auditor
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Abate As Industries' board, at its May 30, 2025 meeting, approved audited financial results (standalone and consolidated) for the year ended March 31, 2025. Three new additional directors were appointed as Independent Directors: Mr. Rishin Rasheed, Mr. Ambramoli Purushothaman, and Mr. Sivadas Chettoor. Two existing directors had their designations swapped — Mr. Pattassery Alavi Haji moved from Independent to Non-Executive Director, while Mr. Ali Thonikkadavath moved from Non-Executive to Independent Director (subject to shareholder approval). Mr. Mohammed Kutty Arikuzhiyil will continue as a director despite being over 75 years old, also subject to shareholder approval. M/s. Sasi Vijayan & Rajan was appointed as Internal Auditor for FY 2025-26, and M/s. Lakshmmi Subramanian & Associates was appointed as Secretarial Auditor for a 5-year term spanning FY 2025-26 to 2029-30.
These are routine compliance and governance updates. Adding three new independent directors and engaging professional audit firms signals a focus on strengthening board oversight. Investors should look at the audited financial results (attached) separately for actual business performance, as this filing is largely administrative.