Appointment of Secretarial Auditor
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Awaiting price reaction for this filing.
Jost's Engineering Company held its board meeting on August 14, 2025 and approved several items. Standalone revenue from operations fell to ₹3,961 lakhs in Q1 FY26 from ₹5,236 lakhs in Q1 FY25 (down ~24%), while standalone profit after tax dropped sharply to ₹60 lakhs from ₹357 lakhs (down ~83%). Consolidated profit after tax fell to ₹32 lakhs from ₹364 lakhs. The board appointed M/s. R.R. Ahirwar & Associates as Cost Auditor for FY 2025-26 and M/s. Anubhuti Akshay & Associates as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), subject to shareholder approval. The 118th AGM was scheduled for September 29, 2025, with the record date window set for dividend eligibility. The board also approved the transfer of all 10,000 equity shares of its wholly-owned subsidiary Josts Foundation to promoter group members (Mr. Jai Prakash Agarwal, Mrs. Krishna Agarwal and Mrs. Anshu Agarwal) at par value of ₹10, making it cease to be a wholly-owned subsidiary. A Land Monetisation Committee was formed to explore monetisation of the company's Thane land.
The sharp decline in both standalone and consolidated Q1 profits is a concern for shareholders and may weigh on short-term sentiment. The transfer of the CSR subsidiary to promoter group members at par is a related-party transaction and should be watched closely at the AGM. Land monetisation, if executed well, could be a meaningful value-unlock event.