Based on the recommendation of the Audit Committee, the Board of Directors of the Company has recommended to the shareholders, the re- appointment of M/s. AJP & Associates, Peer reviewed ....
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Globalspace Technologies announced results for Q1 FY26 (quarter ended June 30, 2025). Standalone revenue from operations fell to ₹475.87 lakhs from ₹692.75 lakhs in Q1 FY25 (though the current quarter is net of ₹3.75 crore sales returns from Q4 FY24). The company swung back to a net profit of ₹12.07 lakhs versus a loss of ₹262.71 lakhs a year ago, which had been hit by a ₹275.65 lakh exceptional loss on sale of a Kolkata office property. Consolidated revenue was ₹877.86 lakhs with net profit of ₹15.96 lakhs, aided by contribution from subsidiary Innopharma Healthcare. The Board also recommended re-appointment of Bansi Lal Shah & Co. as statutory auditor for a second 2-year term and AJP & Associates as secretarial auditor for 5 years, and appointed Mr. Pulkit Chowdhary as an Additional Independent Director for 3 years. The auditor flagged that the company's inventory register is not properly updated with quantity inwards/outwards.
The return to profitability is a positive signal, but the sharp revenue decline and the auditor's observation on inventory record-keeping may raise some concerns about operational quality. Routine governance items (auditor re-appointments and a new independent director with a finance background) should not materially move the stock; shareholder approval will be sought at the AGM on September 29, 2025.