Madhav Copper Limited has informed the Exchange regarding Appointment of M/s. N S Shah and Co., Chartered Accountants as Internal Auditor of the company w.e.f. August 13, 2025.
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Madhav Copper Limited's Board, at its meeting on August 13, 2025, approved three items: unaudited financial results for Q1 FY26, appointment of M/s Chetan Gandhi & Associates as Cost Auditor for FY 2025-26, and appointment of M/s. N S Shah and Co. as Internal Auditor for FY 2025-26. For Q1 FY26, total revenue from operations nearly doubled year-on-year to ₹46.20 crore (vs ₹24.49 crore in Q1 FY25), driven by strong growth in raw material consumption. However, net profit slipped marginally to ₹1.04 crore from ₹1.12 crore, with EPS at ₹0.38 versus ₹0.41. The statutory auditors P G Hemani & Co. issued an unmodified limited review report on the results.
Strong top-line growth (~89% YoY) is a positive signal on business expansion, but the slight dip in net profit suggests margin pressure from higher input costs. The auditor appointments are routine compliance items and unlikely to move the stock on their own.