Outcome of Board Meeting held on 30.05.2025
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
The board approved Palco Metals' audited standalone and consolidated financial results for Q4 and the full year ended 31 March 2025, both carrying an unmodified (clean) opinion from the statutory auditors. The board also cleared a merger scheme to absorb its wholly-owned subsidiary, Palco Recycle Industries Ltd (PRIL), into itself, and will now approach the NCLT Ahmedabad bench after an earlier attempt via the Regional Director route failed for lack of 90% shareholder approval. PRIL's turnover grew roughly 21.5% year-on-year to Rs 19,407.71 lakh in FY24, and its net worth rose from Rs 30.33 crore (FY24) to Rs 36.96 crore (FY25). Additionally, CS Punit Santosh Kumar Lath was appointed as Secretarial Auditor for FY25, and CS Mukesh Tiwari was appointed as Internal Auditor for FY25 and FY26.
Routine, largely procedural updates: clean audit opinion is a neutral-to-positive signal, while the merger is a group simplification with no change in shareholding or cash consideration, so existing shareholders are not materially affected.