Appointment of Secretarial Auditors for FY 2025-26
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The Board of Directors, at its meeting on May 20, 2025, approved the appointment of M/s. SKGK & Associates LLP as Secretarial Auditors for a period of five consecutive years starting from FY 2025-26 (38th to 43rd AGM), subject to shareholder approval. In the same meeting, the Board approved the audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, which carried an unmodified (clean) auditor's opinion from Mehta and Mehta. The auditor flagged several Emphasis of Matter items, including pending share transfers for acquisitions of CRG Solutions (Rs.586.13 lakhs paid for 10.51%) and Alpharithm Technologies (Rs.251.55 lakhs paid for 16.77%), advances totaling Rs.531 lakhs for IP rights of two companies, and Rs.1,188.12 lakhs in advance call money received for an ongoing rights issue. Financials for FY 2022-24 were also restated to comply with SEBI requirements related to the rights issue. On the numbers, standalone revenue was Rs.437.98 lakhs with a net loss of Rs.868.22 lakhs, while consolidated revenue grew to Rs.1,612.84 lakhs with a net loss of Rs.1,377.86 lakhs.
While the appointment of a new secretarial auditor is routine, the deeply negative financials (standalone expenses nearly 3x revenue), restated prior-year numbers, pending acquisition closures, and significant unrecovered IP-related advances signal operational and governance risks that shareholders should track closely.