Albert David Limited has informed the Exchange about Re-appointment of PricewaterhouseCoopersServices LLP as Internal Auditors for F.Y. 2026-27
ALBERTDAVD · price
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Albert David Limited held its Board meeting on May 12, 2026, announcing several key decisions. The most significant is the appointment of Mr. Amit Mahla as CEO, filling a vacancy left by Mr. Umesh Manohar Kunte's resignation effective December 18, 2025. The company reported audited financial results for FY 2025-26 showing revenue of Rs. 33,360 Lakhs (down from Rs. 34,577 Lakhs), with profit before tax plummeting to just Rs. 52.49 Lakhs compared to Rs. 2,522.77 Lakhs in the previous year, resulting in a net loss of Rs. 149.47 Lakhs for the year. The Board recommended a final dividend of Rs. 5 per share (50%) subject to shareholder approval at the 87th AGM on August 6, 2026. Additionally, M/s. PricewaterhouseCoopers Services LLP was re-appointed as Internal Auditors and M/s. S. Gupta & Co. as Cost Auditors for FY 2026-27. Statutory auditors L. B. Jha & Co. issued an unmodified opinion on the financial statements.
The dramatic decline in profitability despite relatively stable revenue is concerning and may negatively impact investor sentiment. The CEO appointment after a 5-month vacancy suggests the company has stabilized leadership, though the new CEO brings extensive pharma experience from companies like JB Pharma and Cipla.