Announcement under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015- Appointment/ Re-appointment of Auditor
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AIK Pipes and Polymers (Jaipur-based HDPE pipe maker) announced audited results for FY ended March 31, 2025. Revenue from operations fell to ₹2,509.70 lakhs from ₹3,727.25 lakhs in FY24, a drop of about 33%. Profit after tax dropped sharply to ₹127.68 lakhs from ₹341.16 lakhs, with basic EPS at ₹2.01 versus ₹6.69. The statutory auditor R P Khandelwal & Associates issued an unmodified (clean) opinion. The board also appointed M/s H Khandelwal & Associates as Secretarial Auditor for a first 5-year term (April 2025 to March 2030) and re-appointed M/s SASH & Associates as Internal Auditor for FY2025-26, subject to shareholder approval at the upcoming AGM.
The sharp decline in both revenue (~33%) and profit (~63%) year-on-year is a negative signal for shareholders, though trade receivables and short-term borrowings have risen, suggesting tighter working capital. Auditor changes here are routine compliance-driven appointments, not resignations, so no governance alarm.