Submission of Reg 30 for appointment and resignation of Secretarial Auditor.
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Awaiting price reaction for this filing.
Garware Synthetics' board, at its May 30, 2025 meeting, approved audited financial results for Q4 and FY ended March 31, 2025, along with a declaration of an unmodified auditor opinion. The statutory auditor Jayesh Dadia & Associates LLP issued a clean report. The company also appointed M/s. S.G & Associates (led by Mr. Suhas Ganpule) as Secretarial Auditor for a 5-year term covering FY2025-26 through FY2029-30, subject to shareholder approval. FY25 revenue rose modestly to ₹1,072.99 lakhs from ₹1,069.99 lakhs, and the company returned to a slim net profit of ₹1.30 lakhs versus a ₹4.77 lakh loss in FY24. However, reserves remain negative at ₹(777.57) lakhs, indicating accumulated losses.
Clean audit opinion and return to profit are positives, but the very thin margins, negative other equity, and weak Q4 profit (₹0.79 lakhs vs ₹14.34 lakhs YoY) suggest limited operational improvement. The secretarial auditor appointment is routine and unlikely to move the stock.