Noted that the tenure of Dr. Ramasamy as an Independent Director expired on 28th June 2025
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Elango Industries reported Q1 FY26 (quarter ended 30 June 2025) results with total revenue of Rs. 21.36 lakhs (up from Rs. 4.32 lakhs in Q1 FY25) but a net loss of Rs. 4.89 lakhs, narrower than the Rs. 9.59 lakh loss a year ago. The Board noted that Dr. M. Ramasamy's second 5-year term as Independent Director ended on 28 June 2025 (natural expiration, not a resignation). Promoter Mr. S. Elangovan was re-appointed as Managing Director for another 5 years (Aug 2025 – Aug 2030). Mrs. Ashitha K was appointed as a new Independent Women Director and will also chair the Audit, Nomination & Remuneration, and Stakeholders Relationship Committees. Statutory auditor M/s. P Pattabiramen & Co was re-appointed for 5 years, alongside new secretarial and internal auditors. The auditor's review report carries a repeated qualified opinion on Rs. 1.10 crore of electricity subsidy receivable pending since March 2022, which management says is recoverable.
This is largely a routine governance update. For shareholders, the key items to watch are the continuing losses (though narrowing), the unresolved Rs. 1.10 crore subsidy receivable flagged repeatedly by the auditor since FY22, and the MD re-appointment keeping promoter leadership in place for another five years.