Recommendation of appointment of Secretarial Auditor for five consecutive years, subject to approval of the shareholders
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Bloom Industries' board, at its meeting on August 6, 2025, approved the appointment of M/s Gopinath Nayak & Associates, Practicing Company Secretaries, as the Secretarial Auditor for five consecutive financial years (FY 2025-26 to FY 2029-30), subject to shareholder approval at the upcoming AGM. The firm has over a decade of experience in corporate consulting and is based in Bhubaneswar. The board also approved the unaudited Q1 FY26 financial results, which showed revenue from operations at ₹554.61 lakhs, down from ₹756.09 lakhs in Q1 FY25, and a net profit of ₹13.34 lakhs versus ₹18.22 lakhs in the same quarter last year. EPS for the quarter stood at ₹0.20 compared to ₹0.27 previously. Additionally, Dr. S.K. Jain was appointed as Scrutinizer for the 36th AGM.
The secretarial auditor appointment is a routine regulatory compliance matter and unlikely to move the stock. However, the Q1 FY26 numbers show a noticeable decline in both revenue (~27% YoY drop) and profit, which could be a mild concern for shareholders watching the company's growth trajectory.