Digjam Limited has informed the Exchange regarding Change in Auditors of the company.
DIGJAMLMTD · price
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Awaiting price reaction for this filing.
Digjam's board met on August 14, 2025 and approved unaudited results for Q1 FY26 (quarter ended June 30, 2025), reporting total income of Rs. 395.50 lakhs from continued operations (down from Rs. 618.41 lakhs in the prior quarter) and a net profit of Rs. 96.05 lakhs boosted by Rs. 161.82 lakhs from discontinued operations. The auditor flagged a going-concern uncertainty, noting current liabilities exceed current assets by Rs. 544.57 lakhs and that the Jamnagar manufacturing facility was shut on March 31, 2025 with related assets of Rs. 5,681.64 lakhs held for sale. Three independent directors — Sudha Bhushan, Duraiswamy Gunaseela Rajan, and Panchapakesan Swaminathan — were re-appointed for second 5-year terms, and Whole-Time Director Hardik Bharat Patel was also re-appointed for 5 years. M/s. Viral Sanghavi & Associates was appointed as the new Secretarial Auditor for 5 years (FY26–FY30). A pending scheme of arrangement with Reid & Taylor International (demerger of RTIL's textile undertaking into Digjam) is awaiting approvals.
The going-concern flag and discontinued manufacturing operations are key risks for shareholders, though the pending Reid & Taylor demerger and asset sale plans could reshape the business. Routine director re-appointments and the new secretarial auditor appointment are administrative and unlikely to move the stock on their own.