Outcome of Board Meeting
KRITIKA · price
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Awaiting price reaction for this filing.
Kritika Wires reported Q1 FY26 (quarter ended June 30, 2025) unaudited revenue of Rs. 20,685.62 lakh, up about 23% year-on-year from Rs. 16,830.05 lakh. However, profit for the quarter fell to Rs. 137.61 lakh from Rs. 217.37 lakh a year ago, a decline of roughly 37%, with EPS at Rs. 0.05 versus Rs. 0.08. Two Non-Executive Independent Directors, Mr. Shiv Kumar Saraff and Mr. Niraj Jindal, resigned effective July 30, 2025, citing personal/health reasons and other preoccupations respectively. The Board also re-appointed M/s. Sohan Lal Jalan & Associates as Cost Auditor for FY 2025-26 and authorised a Kotak Mahindra Bank account and LME-related authorisations for metals trading.
Mixed signals for shareholders: revenue growth is healthy but profit margins have compressed sharply, which could weigh on the stock. The simultaneous exit of two independent directors raises near-term board composition questions, though the company must fill the vacancies to comply with SEBI's independent director requirements.