Manaksia Coated Metals & Industries Limited has informed the Exchange regarding Change in Auditors of the company.
MANAKCOAT · price
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Manaksia Coated Metals & Industries' board, meeting on July 22, 2025, approved unaudited Q1 FY26 results showing strong growth. Standalone revenue from operations rose to Rs 24,978.48 lakhs (vs Rs 19,378.21 lakhs in Q1 FY25, up ~29%), and net profit jumped to Rs 1,400.59 lakhs (vs Rs 298.19 lakhs), boosted by an exceptional item of Rs 121 lakhs. 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 five years (FY26-FY30). The statutory auditor, M/s S. Bhalotia & Associates, continues. The board also approved a scheme to merge its wholly owned subsidiary JPA Snacks Private Limited (which has no active operations) into itself, with no change in shareholding pattern. The 15th AGM is scheduled for September 16, 2025 via video conferencing, with a possible final dividend subject to shareholder approval.
Strong Q1 performance with nearly 5x year-on-year net profit growth signals improved operational efficiency, which is positive for shareholders. The auditor changes are routine appointments of internal and secretarial auditors and do not indicate any governance concerns. The merger of an inactive wholly owned subsidiary simplifies the group structure at no cost to shareholders, as no new shares will be issued.