Kritika Wires Limited has informed the Exchange regarding Outcome of Board Meeting held on May 14, 2026.
KRITIKA · price
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Kritika Wires Limited reported audited financial results for FY2026 with revenue of Rs 69,431.87 lakh, down from Rs 76,035.50 lakh in FY2025. Profit before tax fell to Rs 733.90 lakh from Rs 1,480.24 lakh in the previous year, a decline of about 50%. The company appointed Mr. Hunny Bhalotia as an Additional Non-Executive Independent Director to fill a casual vacancy caused by the resignation of Mr. Rajiv Adukia. The board also considered re-appointing three key directors - Mr. Hanuman Prasad Agarwal as Managing Director, Mr. Naresh Kumar Agarwal as Whole-time Director cum Chairman, and Mr. Ankush Agarwal as Whole-time Director - all for 3-year terms subject to shareholder approval. Additionally, the company approved entering into forex transactions with Axis Bank. The statutory auditors issued an unmodified opinion on the financial results.
The sharp decline in profit and revenue year-on-year may concern investors, though strong operating cash flow of Rs 1,883.33 lakh provides some comfort. The appointment of a new independent director fills a governance gap left by the prior director's resignation.