Amit Spinning Industries Limited has informed the Exchange regarding Appointment of M/s. Shrenik Nagaonkar & Associates as Secretarial Auditor of the company subject to approval of the Members of the Company at the ensuing Annual General Meeting ( AGM ) for a term of Five (5) consecutive years i.e. to carry out secretarial audit for FY 2025-26 to 2029-30 from the conclusion of this Thirty Third (33rd) AGM till the conclusion of Thirty-Eight (38th) AGM of the Company
Awaiting price reaction for this filing.
The board approved unaudited standalone financial results for the quarter ended June 30, 2025. Revenue fell to ₹2,465.85 lakhs from ₹3,317.31 lakhs in the same quarter last year, and the company slipped into a loss of ₹34.36 lakhs versus a profit of ₹587.92 lakhs a year ago, with loss per share of ₹1.25. The board also appointed M/s. Shrenik Nagaonkar & Associates as Secretarial Auditor for five years (FY 2025-26 to 2029-30), subject to shareholder approval. The company recently acquired a fabric manufacturing unit on a slump sale basis effective March 1, 2025, which contributed around 68% of revenue in its first month. The statutory auditor issued an unmodified limited review report and the company confirmed no defaults on loans or debt securities.
Sharp year-on-year decline in revenue and a swing to loss may weigh on the stock in the short term, though the new fabric unit could support diversification going forward. The appointment of a new long-tenure secretarial auditor is routine and not material to shareholders.