Banco Products (I) Limited has informed the Exchange regarding Change in Auditors of the company.
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Banco Products (I) Limited's board, at its meeting on August 8, 2025, approved the unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025) with an unmodified opinion from the auditor. Standalone total income rose to around Rs. 41,028 lakhs (vs ~Rs. 31,238 lakhs in Q1 FY25) and standalone net profit grew sharply to ~Rs. 6,372 lakhs (vs ~Rs. 1,468 lakhs). Consolidated revenue grew to ~Rs. 98,385 lakhs (vs ~Rs. 80,597 lakhs) though consolidated net profit was lower. The board also appointed M/s. J. J. Gandhi & Co. as Secretarial Auditor for 5 years (FY26 to FY30) and M/s. Y. S. Thakar & Co. as Cost Auditor for FY26, subject to shareholder approval. The 64th AGM is scheduled for September 19, 2025 via video conference.
Despite the headline suggesting a change in auditors, the statutory auditor (Parikh Shah Chotalia & Associates) remains unchanged; only the Secretarial and Cost Auditors are being newly appointed, which is routine. Strong standalone profit growth in Q1 FY26 is a positive signal for shareholders, though the dip in consolidated profit warrants a closer look at subsidiary-level performance.