Please find the enclosed letter with respect to appointment of M/s Ravi Shah & Associates as the Internal Auditor for the Financial Year 2026-27.
ELCIDIN · price
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Elcid Investments Ltd, a listed NBFC investment company, has announced appointment of M/s Ravi Shah & Associates as internal auditor for FY 2026-27. For FY 2025-26, standalone total income declined to Rs 9,482.70 lakhs from Rs 14,063.06 lakhs (YoY), while consolidated total income fell to Rs 13,538 lakhs from Rs 21,334.10 lakhs. Standalone PAT decreased to Rs 7,622.80 lakhs from Rs 10,097.15 lakhs (decline of ~24.5%), and consolidated PAT fell to Rs 10,852.04 lakhs from Rs 15,299.56 lakhs (decline of ~29%). Other Comprehensive Income turned significantly negative at Rs 34,524.76 lakhs (standalone) and Rs 49,456.72 lakhs (consolidated), largely due to mark-to-market losses on equity investments. The statutory auditor issued an unmodified opinion confirming clean financials. The Board also recommended a final dividend of Rs 25 per equity share (face value Rs 10) subject to shareholder approval.
The company experienced a significant revenue and profit decline of approximately 25-30% YoY, primarily due to negative fair value changes on investments. However, the clean audit opinion and recommendation of dividend indicate management confidence. The appointment of a new internal auditor represents routine governance change with no immediate share price implications.