Ganges Securities Limited has informed the Exchange regarding 'APPOINTMENT OF SECRETARIAL AND INTERNAL AUDITORS'.
GANGESSECU · price
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Ganges Securities Limited's board approved audited financial results for FY ended March 31, 2025. Consolidated revenue from operations rose to Rs 3,798.26 lakhs (vs Rs 3,482.08 lakhs in FY24), with consolidated net profit improving to Rs 506.21 lakhs (vs Rs 347.90 lakhs). Standalone net profit fell to Rs 388.54 lakhs (vs Rs 689.80 lakhs) mainly on lower dividend and interest income. The board appointed M/s M R & Associates as Secretarial Auditors for 5 years (FY26–FY30) and M/s M Parasrampuria & Co. as Internal Auditors for FY26. No dividend was recommended for FY25. A key disclosure: the wholly-owned subsidiary Cinnatolliah Tea Limited reported misappropriation of funds worth Rs 181.84 lakhs by its former CFO over FY23–FY25; an FIR has been filed and Rs 101.86 lakhs was expensed as an exceptional item this year.
Improved consolidated profitability and stronger auditor oversight are positives, but the subsidiary-level fraud of nearly Rs 1.82 crore is a governance red flag that may weigh on investor sentiment. No dividend means shareholders won't get any income return this year.