Appointment of the Secretarial Auditor of the Company
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The board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with the statutory auditor issuing an unmodified opinion. On a standalone basis, FY25 net profit came in at ₹188.61 lakhs versus a loss of ₹326.61 lakhs in FY24, while total income fell to ₹4,626.60 lakhs from ₹5,109.55 lakhs. Total borrowings dropped sharply from ₹5,408.36 lakhs to ₹1,113.24 lakhs, strengthening the balance sheet. CFO Heeralal Agarwal resigned due to personal reasons effective May 6, 2025, but will continue as Whole-Time Director. Mahesh Birla (a Chartered Accountant with 15+ years of experience) was appointed as the new CFO effective May 7, 2025. The board also appointed Nidhi Bajaj & Associates as Secretarial Auditors for a 5-year term (FY26–FY30), subject to shareholder approval.
A clean, back-to-back CFO transition (outgoing CFO stays on board as Whole-Time Director) should reassure investors about continuity at the finance leadership level. The swing to a profit and major debt reduction are positive for shareholders, though the year-on-year revenue decline warrants monitoring.