Appointment of Secretarial Auditor
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Kovalam Investment & Trading Company announced the appointment of M/s P.S. Dua and Associates, Ludhiana, as Secretarial Auditor for a 5-year term covering FY 2025-26 to FY 2029-30, subject to shareholder approval at the upcoming AGM. The 43rd Annual General Meeting is scheduled for September 25, 2025 via video conferencing. The company also reported its Q1 FY26 unaudited results, showing a profit after tax of Rs 135.12 lakhs, a strong recovery from the Rs 74.56 lakh loss in Q4 FY25, driven mainly by net fair value gains of Rs 122.75 lakhs. Total comprehensive income jumped to Rs 2,575.73 lakhs due to a large Rs 2,440.61 lakh gain from fair value changes in unlisted shares. EPS for the quarter stood at Rs 6.08 versus Rs (3.35) in the previous quarter.
The sharp swing back to profitability is encouraging but largely driven by market-linked fair value gains, not core operating income. The related-party sale of investments at a loss of about Rs 23 lakhs (sold for Rs 21.92 lakhs vs cost of Rs 45 lakhs) is a minor governance flag worth watching. For retail shareholders, this is a routine governance update with no major strategic shift.