Century Enka Limited has informed the Exchange regarding Appointment of Singhi & Co. Chartered Accountants as Managing Director & CEO of the company w.e.f. May 21, 2026.
CENTENKA · price
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Century Enka's Board meeting on 21 May 2026 approved FY2026 audited standalone and consolidated results. Net profit after tax grew approximately 51% year-on-year to Rs 10,169 Lacs (standalone), driven by improved margins despite a revenue decline from Rs 2,00,169 Lacs to Rs 1,70,541 Lacs. The company announced a dividend of Rs 11 per share (110%), up from Rs 10 previously. Key governance changes include appointment of Singhi & Co., Chartered Accountants as new Statutory Auditors for a 5-year term from FY2027, replacing KKC & Associates LLP (formerly Khimji Kunverji & Co LLP), subject to shareholder approval. Additionally, Mr. Suresh Sodani, a Chartered Accountant with over three decades of experience and the incumbent Managing Director, was redesignated as Managing Director and Chief Executive Officer (MD & CEO) with no change in existing terms. The auditors issued an unmodified opinion with one emphasis of matter relating to a pending Supreme Court excise duty case (reduced demand of Rs 730 Lacs).
Strong financial performance with profit growth amid revenue decline signals operational efficiency. The MD's redesignation as CEO consolidates leadership without disruption. The auditor change is routine and signals no concern. Shareholders can expect an improved dividend payout.