OUTCOME OF BOARD MEETING
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Awaiting price reaction for this filing.
Gujarat Intrux, a steel and alloy casting maker based in Rajkot, reported Q1 FY26 (quarter ended June 30, 2025) unaudited results. Revenue from operations fell about 16% year-on-year to ₹1,302.64 lakhs from ₹1,550.03 lakhs. Net profit after tax rose sharply to ₹194.75 lakhs from ₹105.93 lakhs (about 84% growth as per the filing), even though profit before tax declined to ₹257.58 lakhs from ₹404.74 lakhs, mainly on lower revenue. Basic EPS for the quarter stood at ₹5.67 versus ₹7.58 a year ago. The board also accepted the resignation of statutory auditor M/s. Parin Patwari & Co., which stepped down citing the proprietor's decision to wind up the firm — it was originally appointed in September 2022 for a five-year term. The board appointed M/s. K.P. Rachchh & Co. as secretarial auditor for five years from FY2025-26 to FY2029-30, subject to shareholder approval. The filing does not announce a replacement statutory auditor.
Mixed picture for shareholders: top-line shrank meaningfully, but reported bottom-line improved sharply on lower input and other costs. The mid-term exit of the statutory auditor is something to watch — investors should look out for a prompt appointment of a new statutory auditor to avoid any compliance or audit continuity concerns.