Appointment of Secretarial Auditors
ABDL · price
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ABDL reported audited FY25 results with standalone revenue from operations of Rs. 8,072.96 crore and profit after tax of Rs. 200.13 crore, a sharp jump from Rs. 6.72 crore in FY24. The board recommended a final dividend of Rs. 3.60 per share (face value Rs. 2) for FY25, with June 27, 2025 as the record date. The board also approved raising funds up to Rs. 1,000 crore via equity shares, QIP, or other instruments, subject to shareholder approval. Additionally, ABDL proposed a capex of up to Rs. 29 crore to triple bottling capacity at its Derabassi, Punjab plant from 1 lakh to 3 lakh cases per month, to be completed within 12 months. M/s. B.K. Pradhan & Associates was appointed as Secretarial Auditor for five years (FY26–FY30). The auditor (Walker Chandiok & Co LLP) issued an unmodified opinion, though it flagged ongoing tax litigation (demand of Rs. 352.31 crore plus interest) and a customer dispute, both of which management believes are not material.
Strong FY25 earnings and a 180% dividend payout signal robust cash generation and shareholder returns, while the Rs. 1,000 crore fundraise and capex plan indicate growth-oriented capital deployment. Investors should watch the open income tax demand and the CSD arbitration case as potential overhangs, though both are currently stayed or being contested.