Manaksia Coated Metals & Industries Limited has informed the Exchange regarding Change in Auditors of the company.
MANAKCOAT · price
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Awaiting price reaction for this filing.
Manaksia Coated Metals reported strong Q1 FY26 results with standalone revenue rising to ₹24,978 lakhs from ₹19,378 lakhs year-on-year (up ~29%), while net profit jumped to ₹1,410 lakhs from ₹304 lakhs (up ~363%). The board appointed M/s Audittech 360 Financial Services as the new Internal Auditor for FY 2025-26 and Mr. Anil Kumar Dubey of M & A Associates as Secretarial Auditor for a 5-year term, subject to shareholder approval. The statutory auditor M/s S Bhalotia & Associates continues, having issued an unqualified limited review report. The board also approved a scheme to merge JPA Snacks Private Limited (a wholly owned subsidiary with no active operations and net liabilities of ₹257.70 lakhs) into the company, with no change in shareholding and no new shares to be issued. The 15th AGM is fixed for September 16, 2025, with September 9, 2025 as the record date for e-voting and final dividend eligibility.
Strong quarterly earnings growth is positive for shareholders, though the headline 'Change in Auditors' relates to routine appointments of internal and secretarial auditors (not statutory). The amalgamation of a dormant wholly owned subsidiary simplifies the group structure with no dilution to existing shareholders.