Disclosure of Annual Report for the FY 2024-25
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Kandagiri Spinning Mills has submitted its 49th Annual Report for FY 2024-25 to BSE, along with the notice of its 49th AGM scheduled for 29 September 2025 via video conferencing. The report outlines major board reshuffle effective 8 August 2025: Mr. Adinarayana Sripathy Kumar takes over as Chairman, Mr. S. Sivakumar as Managing Director, and Mr. Manoj Kumar Maurya as CFO. Several previous directors including the earlier Chairman, Managing Director, CFO, and other non-executive directors stepped down on the same date. The company's statutory auditor, M/s Krishnen & Associates, resigned effective 13 August 2025 citing personal and professional commitments, and M/s SSAL & Associates has been appointed in their place for a 5-year term until the 54th AGM in 2030, with annual remuneration of Rs. 1 lakh. No dividend was declared for FY 2024-25.
Shareholders should note the significant management and auditor changes that occurred during the year, which often signal strategic shifts. The mid-year auditor change and complete board overhaul warrant closer attention to the audited financials in the annual report for any red flags.