Announcement under Regulation 30 of SEBI LODR for the Appointment of Internal Auditor and Re-constitution of SMP.
PLATIND · price
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Platinum Industries Ltd reported audited FY2025-26 results with consolidated revenue of Rs. 4,504.41 million (up 14.8% YoY) and consolidated PAT of Rs. 512.30 million (up 74.3% YoY). Standalone PAT was Rs. 535.27 million (up 9.6% YoY). The Board also approved appointment of M/s Pipalia Singhal & Associates as Internal Auditors for FY 2026-27 and re-constituted Senior Managerial Personnel (SMP). Additionally, the Board approved fresh equity share issuance by subsidiary Rivadu Lifesciences Private Limited, conditional on Platinum Industries maintaining at least 51% shareholding. Statutory auditors issued a qualified opinion on both standalone and consolidated results due to a fire incident at subsidiary M/s Platinum Polymers and Additives in July 2025, where an insurance claim of Rs. 98.19 million is pending finalisation and the auditors could not determine whether adjustments are required to the parent company's Rs. 100 million investment in the subsidiary.
Strong bottom-line growth but the qualified audit opinion on insurance claim recoverability and subsidiary asset valuation introduces uncertainty. Shareholders should monitor the insurance settlement outcome and any impact on the carrying value of the parent company's investment in the subsidiary.