Considered and approved appointment of Mr. S. Ganesan, Practicing Company Secretary as the Secretarial Auditor of the Company for a period of 5 years from FY 2025-26 to FY 2029-30
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Elango Industries' board met on 13 August 2025 and approved unaudited Q1 FY26 results showing total revenue of Rs. 21.36 lakhs (up from Rs. 1.09 lakhs in Q1 FY25) and a narrower net loss of Rs. 4.89 lakhs versus Rs. 9.59 lakhs last year. The statutory auditor issued a qualified conclusion flagging Rs. 1.10 crore of old electricity subsidy receivable as potentially unrecoverable — a concern repeating since March 2022 that management says it is working to recover. On the board side, promoter S. Elangovan was re-appointed as Managing Director for another 5 years, while Independent Director Dr. M. Ramasamy exited at the end of his term on 28 June 2025. Mrs. Ashitha K was inducted as an additional Independent Woman Director and will chair the Audit, Nomination & Remuneration, and Stakeholders Relationship committees. Statutory auditor P. Pattabiramen & Co was re-appointed for 5 years and new internal and secretarial auditors were also appointed, subject to shareholder approval at the 36th AGM.
Routine housekeeping with a fresh Women Independent Director and committee chair reshuffle; the lingering qualified auditor remark on a Rs. 1.10 crore stuck subsidy remains the key concern for shareholders, while the wider net loss continues despite higher revenue.