Change in Management - Appointment of Internal Auditor for FY 2025-26
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Brady & Morris Engineering's Board met on May 24, 2025 and approved two key items. First, the audited financial results for FY 2024-25, where revenue from operations rose to Rs 9,030.60 lakhs from Rs 7,520.81 lakhs in FY24, a 20% jump. Net profit surged to Rs 2,399.62 lakhs (vs Rs 838.56 lakhs last year), but this was driven largely by an exceptional gain of Rs 2,334.82 lakhs from sale of property, plant and equipment, partly offset by a Rs 402.97 lakhs write-off due to cyber fraud. Statutory auditor R.K. Doshi & Co. LLP issued an unmodified opinion. Second, the Board appointed M/s. Rajesh Dudhara & Co., an Ahmedabad-based chartered accountancy firm, as the Internal Auditor for FY 2025-26.
Core operating profit before exceptional items actually fell to Rs 1,012 lakhs from Rs 1,151 lakhs, so the headline earnings surge is not from operations. Shareholders should note the one-time asset sale boosted profit, while a cyber fraud loss of nearly Rs 4 crore is a governance red flag. The internal auditor appointment is routine and should have no material impact on the stock.