Appointment of Statutory and Secretarial Auditors
ORBTEXP · price
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Orbit Exports' board, at its July 23, 2025 meeting, approved standalone and consolidated unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). Standalone revenue from operations rose to Rs 6,300.45 lakhs from Rs 4,921.69 lakhs year-on-year, while net profit jumped to Rs 1,425.25 lakhs from Rs 922.80 lakhs, with EPS of Rs 5.38 (vs Rs 3.49). The board also approved appointing M/s. Nayan Parikh & Co as new Statutory Auditors for a five-year term (subject to shareholder approval at the 42nd AGM on September 2, 2025), replacing the current auditor G.M. Kapadia & Co. Additionally, M/s. S.K. Jain & Co was appointed as Secretarial Auditor for FY 2025-26, and Mr. Varun Daga was recommended for re-appointment as a Non-Executive Director.
Strong Q1 performance with roughly 31% revenue growth and 54% profit growth year-on-year signals healthy operating momentum, which is positive for shareholders. The auditor change appears to be a routine rotation rather than a governance red flag, as the outgoing auditor issued an unqualified limited review for the same quarter.