Peninsula Land Limited has informed the Exchange about appointment of Internal Auditors and Secretarial Auditors
PENINLAND · price
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Awaiting price reaction for this filing.
Peninsula Land's board approved Q1 FY26 (June 2025) results: standalone revenue rose to Rs 3,684 lakhs from Rs 3,003 lakhs YoY, but the company posted a standalone loss after tax of Rs 188 lakhs and a wider consolidated loss of Rs 585 lakhs (vs Rs 208 lakhs YoY). Statutory auditors (SRBC & Co) flagged a major concern — joint venture Hem Infrastructure (HIPDPL) faced NCLT insolvency proceedings on July 14, 2025, exposing the company to Rs 9,615 lakhs (standalone) in investments/loans, with a Rs 266 crore corporate guarantee invoked by JM Financial. The board also approved 5-year re-appointments of Rajeev A. Piramal as Executive Vice Chairman & MD and Nandan A. Piramal as Whole Time Director, appointed Aneja Assurance as Internal Auditor for FY26, Shivam Sharma & Associates as Secretarial Auditor for 5 years, and inducted Amyn Jassani as a new Independent Director.
Negative near-term overhang due to the HIPDPL insolvency exposure and ongoing losses, though promoter continuity and a new Big-Four-experienced independent director bring governance stability. Shareholders should watch the NCLT outcome and recovery of the Rs 9,615 lakhs exposure, which could materially impact book value if written down.