Q1 FY27 results, SPV formation, auditor and CS changes
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On the reaction day the stock moved 0.2 pts more than Nifty Midcap 150 and 0.7 pts less than its Agricultural Commercial & Construction Vehicles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Q1 FY27 results: Standalone revenue up 28% YoY to Rs 3,178.90 Crore; net profit at Rs 387.34 Crore vs Rs 372.61 Crore. Board approved solar power SPV with Ampin (26% stake, Rs 3.80 Crore). S.R. Batliboi named new statutory auditors (5-year term from 2027 AGM), replacing Walker Chandiok. CS Arvind Kumar resigned; Vicky Chauhan appointed.
Strong revenue growth signals demand recovery; auditor and CS changes are routine; solar SPV supports sustainability and captive power goals.