Appointment of Internal Auditors of the Company
HALDYNGL · price
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Haldyn Glass reported audited FY25 results with standalone revenue rising to Rs. 38,931.79 lakhs from Rs. 31,436.03 lakhs, but standalone profit after tax declined to Rs. 1,296.51 lakhs from Rs. 1,875.61 lakhs. EPS fell to Rs. 2.41 from Rs. 3.49, partly because the previous year was impacted by a furnace shutdown. The Board recommended a dividend of Rs. 0.70 per share (70%), unchanged from last year. KNAV & Co. LLP issued an unmodified audit opinion on both standalone and consolidated results. The company accepted the resignation of CFO Mr. Ganesh Prasad Chaturvedi due to retirement age, effective May 31, 2025, and appointed Mr. Jitendra Karamchandani as the new CFO from June 1, 2025. Internal auditors M/s. Aneja Associates and Secretarial Auditor Mr. Ashish C. Doshi were also appointed.
The CFO transition appears orderly as the outgoing CFO is retiring and a replacement is already lined up, so no governance concern. However, the sharp drop in standalone profits despite revenue growth is a negative signal that shareholders should note, even though prior-year results were affected by a furnace outage.