Appointment of Internal Auditors and Secretarial Auditors for the FY 2025-26
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Ecoboard Industries' board met on May 15, 2025 and approved audited financial results for Q4 and FY ending March 31, 2025, with an unmodified (clean) auditor opinion from Chaturvedi SK & Fellows LLP. The company also re-appointed Mr. Satish D Kolhe as Secretarial Auditor and M/s. Mahamuni Dixit and Associates as Internal Auditor for FY 2025-26. FY25 financials show a sharp deterioration — revenue fell to Rs. 1,271.78 lakh from Rs. 2,975.59 lakh, and net loss widened sharply to Rs. 3,828.22 lakh (vs. Rs. 726.52 lakh last year), driven by an exceptional loss of Rs. 855.79 lakh from discounting old finished goods stock. Total equity has turned negative at Rs. (505.17) lakh, and pending tax/excise demands total nearly Rs. 18 crore, though no provision has been made pending appeals.
Negative equity, steep revenue decline and widening losses are serious red flags for shareholders despite the clean audit opinion. However, new particle board production lines due by June 2025, director interest waivers, and recent preferential allotments (~Rs. 33 crore raised) suggest management is attempting a turnaround — investors should watch upcoming quarterly results closely.