Pursuant to Regulation of the SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, we wish to inform you that the meeting of the Board of Directors of Libas Consumer Products Limited was held on Wednesday, June 11, 2025 has approved:1. Appointment of M/s SARK & Associates LLP, Company Secretaries as Secretarial Auditor of the company for five years from the financial year 2025-26 to 2029-30, subject to the approval of members in upcoming Annual General Meeting (details pursuant to SEBI circulars is provided as Annexure-1;2. Appointment M/s Sabadra & Associates, Chartered Accountants as an Internal Auditor of the Company for the financial year 2025-26 (details pursuant to SEBI circulars is provided as Annexure-2;3. Appointment Ms. Anjali Barot (ICSI Membership No.: A70225) as Company Secretary (CS) and Compliance Officer of the Company from opening of business hours on June 12, 2025 (details pursuant to SEBI circulars is provided as Annexure-3.Following agenda items are deferred to next board meeting to be held on Friday, June 13, 2025:1. Audited Financial results (standalone and consolidated) for the quarter and year ended on March 31, 2025;2. Independent Auditors report with modified opinion on consolidated and standalone basis for the financial year ended on March 31, 2025;3. Statement of Impact of Audit Qualification.The meeting was started at 07:30 p.m. and concluded at 09:20 p.m.
LIBAS · price
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The board of Libas Consumer Products held a meeting on June 11, 2025 and approved three key appointments: M/s SARK & Associates LLP as Secretarial Auditor for a 5-year term (FY 2025-26 to 2029-30), M/s Sabadra & Associates as Internal Auditor for FY 2025-26, and Ms. Anjali Barot as the new Company Secretary and Compliance Officer effective June 12, 2025. The newly appointed CS holds an ICSI membership (A70225) and has over 2 years of experience in compliance and legal matters. Importantly, the board deferred its audited financial results for Q4 and FY ended March 31, 2025, along with the auditor's report, to the next board meeting on June 13, 2025. The fact that the auditors have issued a modified opinion on both standalone and consolidated financials is a notable point of concern for investors.
The deferred financial results combined with a modified audit opinion suggest the company may have accounting or compliance issues that could concern shareholders. However, the new auditor and CS appointments reflect steps toward strengthening governance, which is mildly positive. Investors should watch the June 13 board meeting closely for the full-year results and details of the audit qualifications.