Appointment of M/s Sasi Vijayan & Rajan as Internal Auditor of the company for the financial year 2026-27
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The Board of Directors of Abate As Industries Ltd met on May 29, 2026 and approved two key items: (1) Audited financial results for the year ended March 31, 2026, and (2) Appointment of M/s Sasi Vijayan & Rajan as Internal Auditor for Financial Year 2026-27. The internal auditor appointment is mandated under Section 138 of the Companies Act, 2013. The firm comprises chartered accountants with over 150 years of combined experience across manufacturing, retail, banking, oil & gas, and shipping sectors. The audited results show strong performance with standalone profit before tax of ₹154.73 lakhs (up from ₹54.33 lakhs) and consolidated profit before tax of ₹1,270.36 lakhs (up from ₹108.56 lakhs). The company also underwent significant capital expansion through preferential allotment and 1:1 bonus issue during the year.
This is a routine governance appointment with no material impact on the stock. The company reported robust year-on-year profit growth, indicating improved operational performance.