Kritika Wires Limited has informed the Exchange regarding Change in Auditors of the company.
KRITIKA · price
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Kritika Wires Limited reported its audited financial results for Q4 and FY 2025-26. Revenue from operations declined to Rs. 69,431.87 lakh from Rs. 76,035.50 lakh in the previous year. Profit Before Tax dropped significantly to Rs. 733.90 lakh from Rs. 1,480.24 lakh, indicating roughly 50% decline in profitability. The Board appointed Mr. Hunny Bhalotia as Additional Non-Executive Independent Director to fill the casual vacancy caused by Mr. Rajiv Adukia's resignation. Additionally, the Board considered re-appointments of three key promoter family directors - Mr. Hanuman Prasad Agarwal (Managing Director), Mr. Naresh Kumar Agarwal (Whole-time Director cum Chairman), and Mr. Ankush Agarwal (Whole-time Director) - all for 3-year terms subject to shareholder approval. The company also approved Forex transactions with Axis Bank and re-appointed its Cost Auditor.
The significant decline in profits may concern investors, though the unchanged auditor and new independent director appointment suggest stable governance. The family-run board structure remains unchanged with pending shareholder approvals for director re-appointments.