Sakthi Sugars Limited has informed the Exchange regarding Change in Auditors of the company.
SAKHTISUG · price
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Awaiting price reaction for this filing.
Sakthi Sugars announced the outcome of its board meeting held on August 13, 2025. The company reported weak Q1 FY26 results with revenue from operations falling to Rs. 30,242 lakhs from Rs. 39,359 lakhs in Q1 FY25, and swung to a loss of Rs. 110 lakhs compared to a profit of Rs. 5,790 lakhs a year ago. The board appointed Smt. Susheela Balakrishnan, a Chartered Accountant with 40 years of experience, as an Independent Director for a five-year term. It also appointed new Secretarial Auditor (Sri. R. Dhanasekaran) and Cost Auditor (STR & Associates), and scheduled the 63rd AGM for September 25, 2025. The statutory auditors issued a qualified report flagging non-provision of expected credit loss on Rs. 25,219.69 lakhs in interest receivable from an erstwhile associate company, a recurring qualification since FY20.
Shareholders should note the sharp year-on-year decline in profitability and the persistent auditor qualification on a large recoverable from a former associate, which remains a key overhang. The new director and auditor appointments are routine and unlikely to move the stock, but the weak quarterly performance and unresolved recovery issue warrant close monitoring.