Gandhar Oil Refinery (India) Limited has informed the Exchange regarding Change in Auditors of the company.
GANDHAR · price
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Gandhar Oil Refinery's board approved audited standalone and consolidated results for Q4 and FY ended March 31, 2025, with the auditor giving an unmodified opinion. Standalone FY25 revenue rose to Rs. 31,602.58 million (from Rs. 28,417.38 million), but profit after tax fell sharply to Rs. 752.90 million (from Rs. 1,187.10 million), with EPS at Rs. 7.69 versus Rs. 13.69. Consolidated FY25 revenue declined to Rs. 38,969.23 million and PAT dropped to Rs. 834.96 million (from Rs. 1,653.16 million). The board recommended a final dividend of Rs. 0.50 per share (25%) for FY25, subject to shareholder approval at the 33rd AGM on August 12, 2025, with record date August 1, 2025. M/s. Kailash Chand Jain & Co. was replaced as statutory auditor by M/s. KJK & Associates for a fresh 5-year term, due to expiry of the prior auditor's tenure (a routine rotation, not a mid-term exit). Internal, cost and secretarial auditors were also appointed/re-appointed, and Independent Director Ms. Amrita Nautiyal and Chairman Mr. Ramesh Parekh (as Managing Director) were re-appointed for five-year terms.
Profitability has deteriorated meaningfully year-on-year despite revenue growth on a standalone basis, which may weigh on the stock. However, the Rs. 0.50 dividend signals continued shareholder returns, and the auditor change is a routine tenure-based rotation with no governance red flags.