Manaksia Limited has informed the Exchange regarding Change in Auditors of the company.
MANAKSIA · price
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Awaiting price reaction for this filing.
Manaksia Limited's board met on July 30, 2025 and approved unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). On a standalone basis, revenue fell sharply to Rs. 1,244.01 lakhs from Rs. 3,122.48 lakhs in Q1 FY25, with net profit dropping to Rs. 141.30 lakhs from Rs. 282.81 lakhs. On a consolidated basis, revenue rose to Rs. 10,512.61 lakhs and net profit grew to Rs. 2,775.68 lakhs from Rs. 2,159.98 lakhs a year ago, helped by subsidiaries. The board also fixed the 41st AGM for September 23, 2025 and approved the appointment of MKB & Associates as Secretarial Auditor for a 5-year term (FY26–FY30). The Metal Products demerger into Manaksia Ferro Industries awaits NCLT approval, and FY25 results included forex losses from Nigerian currency devaluation.
Standalone performance weakened significantly year-on-year, but consolidated numbers improved, reflecting the group's diversified overseas operations. The secretarial auditor change is a routine governance appointment and the statutory auditor (S K Agrawal & Co) remains unchanged, so no governance red flags. Investors should watch NCLT progress on the demerger, as it could reshape the standalone business.