Race Eco Chain Limited has informed the Exchange regarding Change in Auditors of the company.
RACE · price
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Awaiting price reaction for this filing.
Race Eco Chain's board met on August 12, 2025, and approved the unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025). Standalone revenue from operations rose to Rs. 9,881.38 lakhs from Rs. 8,617.34 lakhs a year ago, but standalone profit after tax fell sharply to Rs. 10.24 lakhs from Rs. 36.19 lakhs. On a consolidated basis, revenue jumped to Rs. 15,672.60 lakhs (from Rs. 8,644.42 lakhs) and PAT rose to Rs. 41.31 lakhs (from Rs. 10.38 lakhs), helped by subsidiaries and an associate. The board also appointed M/s SSAR & Associates as the new Internal Auditor for FY 2025-26 and M/s HKS & Associates LLP as Secretarial Auditor for a five-year term starting April 1, 2025, subject to shareholder approval. Additionally, the board approved the Annual Report for FY 2024-25. Statutory auditor M/s Garg Arun & Associates continues to hold the statutory audit role, having issued a clean limited review report.
The new auditor appointments are routine governance matters and unlikely to move the stock. The strong consolidated revenue and profit growth is a positive sign, but the steep drop in standalone profits and heavy dependence on the Recycle division may concern investors.