Jain Resource Recycling Limited has informed the Exchange regarding Appointment of M/s. SKK & Co. and M/s. RKVT and Co. as Joint Internal Auditors of the Company
JAINREC · price
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The company reported strong FY26 standalone results with revenue of Rs 923.1 crore (up 50% from Rs 614.3 crore in FY25) and net profit of Rs 34.7 crore (up 64% from Rs 21.1 crore). Basic EPS improved to Rs 10.37 from Rs 6.77. The Board approved appointment of two joint internal auditors (SKK & Co. and RKVT and Co.) for FY27 and a cost auditor (B. Venkateswar). Company Secretary and KMP Bibhu Kalyan Rauta resigned effective June 20, 2026 due to personal commitments. The company also approved setting up a new plastic recycling facility with Rs 15 crore capex, expected operational by Q3 FY27. Statutory auditors MSKC & Associates issued an unmodified opinion on the audited results.
The resignation of the Company Secretary and KMP creates a compliance gap that needs urgent replacement. Strong financial performance and new capex plans for plastic recycling are positive signals. The dual internal auditor appointment suggests enhanced internal controls post-IPO.