Change in management-Appointment of secretarial auditor
Awaiting price reaction for this filing.
Mahaalaxmi Texpro Ltd (formerly Abhishek Corporation Ltd) held a board meeting on August 14, 2025 and approved its unaudited standalone financial results for Q1 FY26 (quarter ended June 30, 2025). Total revenue for the quarter stood at Rs. 410.98 lakhs, down from Rs. 793.70 lakhs in the same quarter last year. Net loss narrowed sharply to Rs. 20.68 lakhs versus a loss of Rs. 246.29 lakhs in Q1 FY25, with basic EPS at Rs. (0.61). The board also appointed M/s. Shrenik Nagaonkar & Associates, led by CS Shrenik Nagaonkar (a Fellow Company Secretary with 19+ years of experience), as Secretarial Auditor for a five-year term starting from the 32nd AGM. The statutory auditor ARNA & Associates issued an unqualified limited review report on the quarterly numbers.
The narrower quarterly loss is mildly positive, but revenue decline year-on-year shows the business is still shrinking. The secretarial auditor appointment is a routine compliance step and not expected to move the stock. Shareholders should watch for revenue recovery in coming quarters.