Appointment of Secretarial Auditor and Internal Auditor of the Company w.e.f. 10.05.2025
Awaiting price reaction for this filing.
Leel Electricals Limited held a board meeting on 10 May 2025 with several key decisions. The board accepted the resignations of Ms. Komal Phulwani (Company Secretary and Compliance Officer) and Mr. Ankit Sharma (Executive Director and CFO). Mr. Bhoopendra Gaur, with over 20 years of experience in sales, accounting, and operations, was appointed as Additional Executive Director and CFO. The company also appointed G Aakash & Associates as Secretarial Auditor for a 5-year term and Mr. Deepak Ingle as Internal Auditor. Additionally, the board approved commencement of factory operations with an investment of approximately Rs. 20 crore and an expected turnover of around Rs. 75 crore for FY2025-26, along with approval of borrowings, inter-corporate loans, and the annual audited financial results for FY ended 31 March 2025.
Investors should note the simultaneous exit of two key managerial personnel (CFO and Company Secretary) alongside a new CFO appointment, which could raise short-term governance concerns. However, the commencement of new factory operations with a Rs. 20 crore investment targeting Rs. 75 crore turnover signals expansion plans for FY2025-26.