reappointment of Internal Auditor and apointment of Secretarial Auditor
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Awaiting price reaction for this filing.
The board of Advance Metering Technology, held on 27 May 2025, approved the audited financial results for Q4 and FY ended 31 March 2025, along with the reappointment of M/s Daver Sikri & Co. as Internal Auditor for FY 2025-26. It also appointed M/s Navneet K Arora & Co. LLP as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), subject to shareholder approval at the upcoming AGM. The statutory auditors issued an un-modified (clean) opinion on both standalone and consolidated results. However, the FY25 numbers are weak: consolidated revenue from operations fell to ₹1,553 lakhs (from ₹1,652 lakhs) and the net loss widened sharply to ₹930 lakhs (from ₹201 lakhs), with EPS at ₹(5.79). One Indian subsidiary (PKR Energy Limited) was dissolved via NCLT order in June 2024.
The auditor changes are routine and unlikely to move the needle, but the significantly higher full-year loss, driven by rising costs and a ₹539 lakh net loss on fair-value investments, is a negative signal for shareholders and may pressure the stock in the near term.