Appointment of Pavan Reddy & Associates as Internal Auditor of the company for the FY 2025-26 and appointment of Nuren Lodaya and Associates as Secretarial Auditor of the company for a ....
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Midland Polymers' board, at its May 27, 2025 meeting, approved the audited financial results for Q4 and FY ending March 31, 2025. The company reported negligible revenue of ₹0.55 lakh and widened its net loss to ₹14.77 lakh (from ₹4.57 lakh loss a year ago), with negative net worth of ₹(197.70) lakh. The board also appointed Pavan Reddy & Associates as Internal Auditor for FY 2025-26 and Nuren Lodaya and Associates as Secretarial Auditor for a 5-year term (FY 2025-26 to FY 2029-30), both on the Audit Committee's recommendation. The statutory auditor (Pundarikashyam and Associates) gave an unqualified opinion. The company had earlier emerged from an NCLT-approved insolvency resolution process in August 2023.
Routine governance appointments with no direct share price impact, but the widening losses, negative net worth, and history of insolvency proceedings remain key risk factors for shareholders to monitor.