Religare Enterprises Limited has informed the Exchange about recommendation for appointment of Statutory and secretarial auditors of the Company
RELIGARE · price
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Religare Enterprises' board, at its August 12, 2025 meeting, approved Q1 FY26 unaudited results showing a sharp drop in consolidated net profit to Rs. 8.17 crore from Rs. 26.81 crore in Q1 FY25, while standalone posted a net loss of Rs. 6.15 crore. The board recommended reappointment of M/s JC Bhalla & Co. as statutory auditors for FY26 and FY27, and appointed M/s PI & Associates as secretarial auditors for a 5-year term starting FY26. Mr. Pratul Gupta was named Interim CFO, designated as a Key Managerial Personnel. Letters of assurance up to Rs. 10 lakhs each were approved for two non-operational subsidiaries. The RBI's 2019 restriction barring the company from declaring dividends remains in place.
The steep decline in consolidated profits and the ongoing dividend ban are negatives for shareholders. However, the company's consolidated business remains profitable, and recent positive developments like the RBI withdrawing the Corrective Action Plan on subsidiary Religare Finvest (July 2025) and the Delhi High Court quashing the fraud classification provide some relief. The auditor continuity supports governance stability.