This is to intimate that the Board of Directors of the Company at its Meeting held on 13th August, 2025 at the registered office of the Company have inter alia considered and approved the ....
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Awaiting price reaction for this filing.
Elango Industries' Board approved unaudited Q1 FY26 (June 2025) results, reporting revenue from operations of Rs. 21.19 lakhs, sharply higher than Rs. 0.95 lakhs in Q1 FY25. However, the company posted a net loss of Rs. 4.89 lakhs, though narrower than the Rs. 9.59 lakh loss a year ago. The auditor (P Pattabiramen & Co) issued a qualified conclusion on the review report, flagging an electricity subsidy receivable of Rs. 1.10 crores pending for a long period, whose recoverability could not be ascertained. This qualification is repetitive and has been continuing since March 2022. The Board also re-appointed Mr. S. Elangovan as Managing Director for 5 years, appointed Mrs. Ashitha K as Independent Woman Director, and re-appointed statutory, secretarial, and internal auditors for FY 2025-26 onwards.
For shareholders, the persistent auditor qualification on a Rs. 1.10 crore subsidy receivable is a concern as it has remained unresolved since March 2022, though management says it is pursuing recovery. Q1 FY26 showed a revenue jump but the company continues to post losses, though at a reduced level. No major positive catalyst is visible for the stock from this filing.