Appointment of Cost Auditors
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Awaiting price reaction for this filing.
Gayatri Sugars reported audited results for Q4 and FY ended March 31, 2025 alongside the appointment of M/s Narasimha Murthy & Co. as Cost Auditors and M/s PPKG & Co. as Internal Auditors for FY26. Full-year revenue from operations fell about 10.9% YoY to ₹33,610.84 lakhs (from ₹37,711.06 lakhs), while net profit collapsed roughly 85% to just ₹107.25 lakhs (from ₹703.94 lakhs), translating to an EPS of ₹0.16. The company's net worth remains deeply negative at ₹(8,471.89) lakhs with accumulated losses of ₹15,901.94 lakhs, indicating a weak balance sheet. Statutory auditors MOS & Associates LLP issued a Qualified Opinion because an electricity duty matter of ₹283.99 lakhs is sitting as a contingent liability (potential impact estimated at ₹170 lakhs), and also flagged an Emphasis of Matter on the pending IFCI/DRT case for Sugar Development Fund dues. No deviation was reported in the use of ₹4,480 lakhs raised via preferential warrants, of which ₹3,415 lakhs has been utilised so far.
The qualified auditor opinion, accumulated losses and negative net worth are meaningful red flags for shareholders, even though the company turned in a small profit this year. The sugar business remains volatile and the contingent electricity duty liability could materially dent earnings if it materialises. Investors should watch the June 19, 2025 DRT hearing on the SDF dues closely.