Recommendation of appointment of new statutory auditor subject to the approval of shareholders in the ensuing AGM.
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Lakshmi Electrical Control Systems reported FY2026 revenue of Rs 237.58 crore, up 12% from Rs 212.31 crore in FY2025. However, profit before tax dropped significantly to Rs 1.43 crore from Rs 5.75 crore in the prior year, and EPS fell to Rs 4.83 from Rs 14.12. The company recommended a dividend of Rs 3 per share (30% on Rs 10 face value), subject to shareholder approval at the July 31, 2026 AGM. The Board approved changing statutory auditors from M/s Subbachar & Srinivasan (completing 10 years/2 terms as mandated by Companies Act 2013) to M/s NRD Associates for 5 years from 2026-27 to 2030-31. Cost and Internal Auditors were reappointed for FY2026-27. The company also approved amendments to Article 84 of its Articles of Association related to director appointment and remuneration, pending shareholder approval.
The sharp decline in profitability despite revenue growth may concern investors. The dividend offer provides some return but reflects lower earnings. The auditor change is routine compliance with statutory rotation and carries no governance concerns.