The Board of Directors at their meeting held on May 25, 2026, has approved the appointment of Cost Auditor and Internal Auditor of the Company as per details enclosed.
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The Board of Directors approved the audited standalone financial results for Q4 and FY ended March 31, 2026, reporting a net profit of Rs. 1521.14 lakhs. A dividend of Rs. 0.60 per share (6%) was recommended, subject to shareholder approval at the AGM. Sri. B. Venkateswar (Cost Accountant) was re-appointed as Cost Auditor and M/s. R. Rahul Jain & Co. (Chartered Accountants) as Internal Auditor for FY 2026-27. Two Independent Directors — Smt. T. Kalaivani and Smt. Gayatri Vijaikumar — were recommended for re-appointment for a second term of 5 years each from August 2027. The 36th AGM is scheduled for September 17, 2026. Notably, the company's classification changed — it ceased to be a subsidiary of Sunmet Holdings (50.11%) and is now classified as an associate (49.95%).
The company delivered stable profit with a modest dividend, and the appointment of auditors and re-appointment of two independent directors signal continuity in governance. The change in shareholding structure from subsidiary to associate may attract re-rating attention from investors.