Platinum Industries Limited has informed the Exchange regarding Change in Auditors of the company.
PLATIND · price
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Awaiting price reaction for this filing.
Platinum Industries' board, at its August 14, 2025 meeting, approved unaudited Q1 FY26 financial results. Standalone revenue from operations grew to Rs. 1,028.82 million from Rs. 859.07 million a year ago, but net profit declined to Rs. 125.18 million from Rs. 170.98 million. Consolidated revenue rose to Rs. 1,153.82 million, while consolidated net profit fell to Rs. 130.76 million. The board also appointed Mr. Anand Shankar Mahadware as Senior Managerial Personnel (Strategy Business Director – Innovation and New Product Development) and re-appointed M/s Ashish Bhavsar & Associates as Cost Auditors for FY 2025-26. Separately, the company disclosed that a fire incident occurred at the Palghar plant of its subsidiary M/s Platinum Polymers and Additives post June 30, 2025, temporarily halting operations, with financial impact not yet determinable.
Mixed quarter: topline growth was healthy, but profits declined year-on-year which may draw investor attention. The fire at the subsidiary's plant is a near-term risk to watch, though the company is yet to estimate the financial impact. The new SMP hire and routine cost auditor re-appointment are governance-related and unlikely to move the stock.