Plaza Wires Limited has informed the Exchange regarding Board meeting held on August 14, 2025.
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Plaza Wires Limited's Board of Directors met on August 14, 2025, and approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025). The company posted strong YoY growth, with revenue from operations rising to roughly Rs. 65 crore from Rs. 47 crore in Q1 FY25 (~38% growth), and PAT reflecting an EPS rise to Rs. 0.65 from Rs. 0.42 (~55% growth). The Board also appointed M/s Deepak Mittal & Co. as Cost Auditors for FY 2025-26 and M/s Sarika Jain & Associates as Secretarial Auditors for a 5-year term (FY2025-30), subject to shareholder approval at the upcoming AGM. The statutory auditor's limited review report carries an 'Emphasis of Matter' drawing attention to a GST demand of Rs. 11.51 crore (Rs. 5.75 crore tax + Rs. 5.76 crore penalty) from the Central GST Commissionerate, Shimla, against which the company has filed an appeal. Note 4 confirms there were no exceptional items in the quarter.
Strong YoY revenue and profit growth is a positive signal for shareholders, though the Rs. 11.51 crore GST demand remains a key overhang pending the appeal outcome. The auditor appointments are routine corporate housekeeping and unlikely to move the stock.