Platinum Industries Limited has informed the Exchange regarding Change in Auditors of the company.
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Platinum Industries Limited reported strong FY2026 results with standalone revenue of Rs. 4,492.83 million (up 31.7% YoY) and consolidated revenue of Rs. 4,658.14 million. Standalone profit after tax grew 9.6% to Rs. 535.27 million, while consolidated PAT surged 74.3% to Rs. 512.30 million. The Board appointed M/s Pipalia Singhal & Associates as Internal Auditors for FY 2026-27 and re-constituted Senior Managerial Personnel. The statutory auditors PKF Sridhar & Santhanam LLP issued a qualified opinion due to a fire incident at subsidiary Platinum Polymers & Additives in July 2025, where insurance claim of Rs. 98.19 million is pending final settlement. Subsidiary Rivadu Lifesciences Private Limited (incorporated March 2026) proposed fresh equity issuance with parent maintaining 51% stake.
The qualified audit opinion due to unresolved insurance claim creates governance concern and may weigh on investor sentiment. However, strong profit growth and internal auditor appointment signal management focus on controls. The subsidiary equity issuance could dilute stake if not managed carefully.