Orient Paper & Industries Limited has informed the Exchange regarding Change in Auditors of the company.
ORIENTPPR · price
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Awaiting price reaction for this filing.
The board on 22 May 2025 approved the audited financial results for Q4 and FY ended 31 March 2025. Revenue rose to Rs. 91,156 lakhs from Rs. 85,713 lakhs, but the company swung to a net loss of Rs. 5,466 lakhs (EPS of Rs. -2.58) versus a profit of Rs. 623 lakhs in FY24, driven by a sharp loss of Rs. 5,516 lakhs in the Paper & Tissue segment. Statutory auditor B S R & Co. LLP issued an unmodified opinion. The board also appointed a new Secretarial Auditor (LABH & LABH Associates for 5 years), a new Internal Auditor (Deloitte Haskins & Sells LLP for FY26), and a new Cost Auditor (Somnath Mukherjee for FY26). Additionally, the board approved sale of up to 9.06 lakh equity shares (12.02%) of BirlaNu Limited to other promoter group entities as an inter-se transfer.
Negative near-term sentiment likely: the core paper business turned loss-making despite higher revenue, raising concerns about cost pressures and margin erosion. The new auditor roles are routine compliance matters and not a change in the statutory auditor, while the BirlaNu share sale is internal promoter restructuring with no material cash impact on the company.