ENCLSOED HERWITH DISCLOSURE FOR APPOINTMENT OF SECRETAILA AUDITOR
Awaiting price reaction for this filing.
Deccan Bearings Limited's board, at its meeting on May 17, 2025, approved audited financial results for Q4 and FY ended March 31, 2025, along with the appointment of a new secretarial auditor and internal auditor. CS Amarendra Mohapatra & Associates was appointed as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30), subject to shareholder approval at the upcoming AGM. CA Manas Dash was appointed as Internal Auditor for FY 2025-26. The company reported zero revenue from operations for the year, with total income of just Rs 7.77 lakh (mostly other income), against total expenses of Rs 19.98 lakh. Net loss narrowed slightly to Rs 16.36 lakh versus Rs 17.69 lakh in the previous year, with EPS at Rs (0.75). The statutory auditor flagged continued cash losses and a key audit matter around sundry assets written off, but noted no material going-concern uncertainty.
The company continues to post cash losses with no operating revenue, though the loss narrowed marginally year-on-year. The new auditor appointments are routine compliance-driven moves and should not materially affect the stock. Shareholders may want to monitor whether operations revive, as the business is currently running on other income rather than core bearing sales.