Enclosed herewith Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 relating to the Appointment of Mr.Nitin Arvind Oza as an Internal Auditor
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Integrated Hitech reported audited FY25 results with a net loss of Rs. 302.80 lakhs (improved from Rs. 768.60 lakhs loss in FY24) and a Q4 FY25 loss of Rs. 284.36 lakhs. The board approved a Reduction of Capital of up to Rs. 10 Crores to set off accumulated business losses, with reserves deeply negative at Rs. -1,043.18 lakhs. The company provided Rs. 63.07 lakhs as impairment for its investment in the US subsidiary, which is being wound down. CFO Ms. Shantwana Adhikari resigned effective April 28, 2025, citing other professional commitments, and was replaced by Miss Iranee Tripathi, who is currently a management trainee and a 2nd year LLB student. The board also appointed Mr. Rabindra Kumar Samal as Secretarial Auditor (5-year term) and Mr. Nitin Arvind Oza as Internal Auditor for FY25-26.
The company is in deep financial distress with negative reserves, eroding equity base, and a proposed Rs. 10 Crore capital reduction to absorb losses—effectively a sign of serious business impairment. The CFO exit and replacement with a relatively inexperienced appointee, combined with multiple write-offs of receivables, software assets, and subsidiary investments, point to significant governance and going-concern concerns that are likely to weigh on shareholder value and stock price sentiment.