Container Corporation Of India Limited has informed the Exchange regarding Change in Auditors of the company.
CONCOR · price
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Awaiting price reaction for this filing.
The board approved CONCOR's audited standalone and consolidated results for Q4 and FY25. Standalone revenue rose about 2.7% YoY to Rs.8,863 crore, while profit after tax grew around 3.3% to Rs.1,272 crore (EPS of Rs.20.88 vs Rs.20.20). The board declared a final dividend of Rs.2 per share (40%), taking total dividends paid/declared for FY25 to Rs.11.50 per share (230% on face value of Rs.5). A bonus issue in the ratio of 1:4 (1 free share for every 4 held) was also approved, subject to shareholder and other approvals. Four new chartered accountancy firms were appointed as internal auditors for different regional areas for a 3-year term starting FY 2025-26. The statutory auditor (Hem Sandeep & Co.) gave an unqualified opinion but flagged that the position of Independent Director was vacant from November 9, 2024 to March 31, 2025, making the board non-compliant with Section 149(4) of the Companies Act, 2013 and SEBI Listing Regulations during that period.
Solid results, a generous total dividend payout, and a bonus issue are positive for shareholders and should support sentiment. However, the auditor's specific mention of Independent Director vacancy is a governance red flag that investors and regulators may view negatively.