Prabha Energy Limited has informed the Exchange regarding Board meeting held on May 13, 2025.
PRABHA · price
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The Board of Prabha Energy approved audited standalone and consolidated financial results for Q4 and the full financial year ended March 31, 2025, along with the auditor's report from M/s Mahendra N. Shah & Co. The company filed a declaration confirming an unmodified (clean) audit opinion, with no qualifications or adverse remarks. In a key strategic move, the Board decided to sell 3,50,000 equity shares (70% stake) in subsidiary Deep Natural Resources Limited, subject to shareholder approval, after which it will cease to be a subsidiary. The Board also re-appointed M/s Manubhai & Shah LLP as Internal Auditors for FY26, re-appointed Mr. Vishal Palkhiwala as Executive Director for 3 years, appointed Mr. Narayanan Sadanandan (former SBI banker) as Independent Director for 5 years, and re-appointed M/s RPSS & Co. as Secretarial Auditors for a 5-year term.
The clean audit opinion is a positive signal for shareholders. The divestment of the 70% stake in Deep Natural Resources will change the group's consolidation structure and could impact future revenue and profit reporting — shareholders should watch for further details on the sale price and rationale. New independent directorship and auditor continuity suggest governance stability.