Resignation of Anil Agrawal as Company Secretary & Compliance office w.e.f. closure of business hours 31st May 2025
Awaiting price reaction for this filing.
The board approved audited financial results for Q4 and FY ending March 31, 2025, reporting revenue of ₹968.70 crore (up from ₹828 crore) but a net loss of ₹498.37 crore for FY25, wider than the ₹448.79 crore loss in FY24. Losses were driven largely by exceptional items of ₹121.20 crore tied to a long-pending electricity duty dispute with Gujarat tax authorities. Company Secretary & Compliance Officer Anil Agrawal resigned effective May 31, 2025 to take up another role within the Adani Group, with Pranjali Dubey replacing him from June 1, 2025. The board also appointed SRBC & Co LLP as statutory auditors and Parikh Dave & Associates as secretarial auditors, both for five years (FY26–FY30), subject to shareholder approval. The 38th AGM is scheduled for June 26, 2025 via video conferencing. The merger scheme with holding company Ambuja Cements (share swap of 12 Ambuja shares for every 100 Sanghi shares) remains pending NCLT and SEBI clearance.
A clean KMP transition within the Adani Group is unlikely to alarm shareholders, but the widening losses and ongoing litigation provisions are negatives. Investors should track progress of the Ambuja Cements merger scheme, which could materially impact shareholding and listing status.