Appointment of Secretarial Auditor
JAYKAY · price
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Jaykay Enterprises' board, at its meeting on May 29, 2025, appointed M/s. Varuna Mittal & Associates, Practicing Company Secretaries, as the new Secretarial Auditor for an initial 5-year term (FY26–FY30), subject to shareholder approval at the upcoming AGM. In the same meeting, the board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025, with an unmodified (clean) opinion from statutory auditor M/s. P.L. Tandon & Co. On a standalone basis, FY25 revenue rose about 33% YoY to Rs. 26.7 crore, but net profit was nearly flat at Rs. 12.67 crore vs Rs. 12.93 crore. On a consolidated basis, FY25 revenue jumped to Rs. 98.9 crore (from Rs. 66.6 crore), helped by acquisitions and a Rs. 146 crore rights issue done in September 2024. The auditor flagged that financial assets now exceed 50% of total assets, which could attract RBI registration under Section 45-IA; management said it is taking legal opinion.
Clean audit opinion and steady profitability are positives for shareholders, but the RBI registration ambiguity, a CBI case involving a subsidiary (Allen Reinforced Plastics), and an associate with eroded net worth (Nebula 3D) are items worth monitoring. The new Secretarial Auditor appointment is a routine compliance step and is not a red flag.