Appointment of Internal Auditor
HISARMETAL · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Hisar Metal Industries held its board meeting on May 30, 2026, approving audited Q4 and full-year FY2026 results. Total income rose to Rs 26,196 lakhs from Rs 24,483 lakhs in the prior year, while net profit improved to Rs 338 lakhs from Rs 311 lakhs. The board recommended a 10% dividend (Rs 1 per share), subject to shareholder approval at the August 28, 2026 AGM. Key appointments include Ms Ritu Agarwal as Internal Auditor and M/s Naveen Gupta & Co. as Cost Auditor for FY2026-27. Two new independent directors — Mr. Manish Jain and Mr. Shreyaskar Chaudhary — were appointed as Additional Directors for five-year terms, while two existing independent directors, Mr. Rajender Kumar Leekha and Mr. Sanjay Kumar Jain, resigned effective the same day. All board committees (Audit, NRC, CSR) were reconstituted accordingly.
The simultaneous resignation and replacement of two independent directors may raise governance questions among investors, though the company's clean audit opinion and improved profitability provide some comfort. The board renewal and appointment of a dedicated internal auditor could signal strengthened governance going forward.