Appointment of J C Associates as Secretarial Auditor for revised terms of 5 Years consecutive years from F.Y. 2025-2026 to 2029-2030.
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Awaiting price reaction for this filing.
PBA Infrastructure's board approved unaudited Q1 FY26 results showing revenue from operations falling to Rs. 686.49 lakhs from Rs. 1,244.88 lakhs in Q1 FY25, a sharp drop of about 45%. The company slipped into a loss of Rs. 34.86 lakhs versus a profit of Rs. 18.54 lakhs a year ago, with EPS of (0.26). The statutory auditor N K Mittal & Associates issued a qualified review, flagging that the company has Rs. 286.47 crore of overdue loans (down from Rs. 315.15 crore after OTS settlements with State Bank of Patiala and Shriram Finance), is classified as an NPA by lenders, and faces a material going concern uncertainty. Total outside liabilities of Rs. 353.41 crore exceed current assets. The board also fixed the 51st AGM for 27 September 2025 via video conferencing, appointed JC Associates as Secretarial Auditor for 5 years (FY26–FY30), and appointed Mr. Suresh Kumar Bothra (age ~85, ex-President of PBA) as Additional Executive Director for 5 years.
This is a deeply negative filing for shareholders: revenue has nearly halved year-on-year, the company has turned loss-making, and the auditor has explicitly highlighted a going concern risk tied to massive lender defaults and NPA classification. Investors should treat this as a distressed credit situation; the new director and secretarial auditor appointments are routine governance items that do not offset the underlying financial stress.