Gujarat State Fertilizers & Chemicals Limited has informed the Exchange regarding Change in Auditors of the company.
GSFC · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 7.1 pts more than Nifty Microcap 250 and 7.3 pts more than its Fertilizers peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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GSFC announced unaudited Q1 FY26 results (quarter ended 30 June 2025). Standalone revenue from operations rose marginally to Rs 2,171.65 crore (from Rs 2,143.95 crore YoY), while net profit jumped about 51% to Rs 140.03 crore (from Rs 92.64 crore YoY). EPS stood at Rs 3.51 versus Rs 2.32 in the same quarter last year. The Board appointed Shri Sanjeev Kumar, IAS, as Additional Director, Managing Director and Key Managerial Personnel, subject to shareholder approval. M/s CNK & Associates LLP was appointed as the new Statutory Auditor for a 3-year term (FY 2025-26 to FY 2027-28), replacing the outgoing auditor, while M/s Samdani Shah & Kabra was appointed as Secretarial Auditor for 5 years.
Strong Q1 profit growth of over 50% YoY is positive for shareholders, reflecting better operating performance. The change in auditors appears to be a routine rotation rather than a mid-term exit. The appointment of an IAS officer as MD signals continued government (Gujarat state) influence over the PSU, which investors should weigh in their assessment.