We wish to inform you that Meeting held today i.e. 29th May 2026 the Board approved the appointment of Statutory Auditor, subject to the approval of the shareholders at the 33rd Annual ....
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The Board Meeting held on May 29, 2026 approved the audited standalone and consolidated financial results for FY ended March 31, 2026. Standalone net loss was ₹165.96 lakhs vs profit of ₹373.30 lakhs in FY25. Consolidated net loss was ₹948.01 lakhs vs profit of ₹1,456.99 lakhs in FY25, largely due to negative fair value changes in trading securities. The Board recommended a dividend of ₹1 per share (10%) for FY26, subject to shareholder approval at the 33rd AGM. The Board also approved: re-appointment of Mrs. Rinku Suchanti as Executive Director for 3 years from July 1, 2026 (she is spouse of MD and CFO Mr. Vineet Suchanti); appointment of M/s. V K Beswal & Associates as new Statutory Auditors for 5 years (replacing SMSR & Co. LLP after completion of their term); and re-appointment of R. B. Pandya & Co. as Internal Auditor for FY27.
The company swung to losses in FY26 primarily due to mark-to-market losses in its securities trading portfolio. Despite the loss, the Board has recommended a modest 10% dividend. The related-party re-appointment of an executive director (spouse of MD/CFO) requires shareholder approval and is a governance point to watch. No red flags on auditor change as it is a planned transition after term completion.