Change in management
Price
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Elnet Technologies' board met on May 13, 2025 and approved audited results for Q4 and FY ending March 31, 2025, along with a series of key appointments. Full-year revenue from operations dipped to Rs 523.23 lakhs in Q4 and Rs 2,303 lakhs for FY25 (vs Rs 689.11 lakhs and Rs 2,615 lakhs a year ago), though net profit edged up to Rs 1,755 lakhs (vs Rs 1,743 lakhs) on stronger other income. EPS stood at Rs 43.88. The board formally recorded the appointment of Dr. K.P. Karthikeyan IAS, Managing Director of ELCOT (a Tamil Nadu government undertaking), as Chairman and Non-Executive Director effective February 18, 2025, replacing the earlier ELCOT nominee. Mrs. Madura Ganesh was appointed as Additional Independent Director for five years effective March 29, 2025. The board also re-appointed internal auditors (M/s Ajay Kumar & Associates for FY26) and secretarial auditors (M/s BP & Associates for five years till March 2030). A postal ballot on related matters is scheduled from May 17 to June 15, 2025.
Governance is being strengthened with a government-nominee Chairman and a new Independent Director, which may bring more institutional oversight. Investors should note the FY25 revenue decline even as profits held up, while the auditor's clean opinion and stable EPS offer reassurance.