Redesignation of Mr. Prabhas Sanghai from Non-executive Director to Executive Director
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The board, at its meeting on May 28, 2025, approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025. Consolidated revenue for FY25 stood at around Rs 8,157.82 lakhs with a net profit of Rs 263.86 lakhs, a sharp jump from Rs 57.43 lakhs in FY24. Standalone profit was Rs 145.30 lakhs (vs Rs 130.20 lakhs last year) on revenue of about Rs 8,043.37 lakhs. The board re-appointed Mr. Janak Mehta as Internal Auditor for FY 2025-26 and M/s. Dipti Nagori & Associates as Secretarial Auditor for five years (FY 2025-26 to 2029-30). Most notably, Mr. Prabhas Jiwanram Sanghai (DIN: 00302947) was redesignated from Non-Executive Non-Independent Director to Executive Director for three years. He is a promoter of the company and the immediate relative of Mr. Udit Sanghai, the existing Whole-Time Director.
The financial results show a strong recovery in consolidated profit, which is positive for shareholders. However, the elevation of a promoter family member to Executive Director further concentrates management control within the promoter group, which shareholders should note as a governance consideration. The continuing statutory auditor with an unmodified opinion provides some comfort on financial reporting.