Sakthi Sugars Limited has informed the Exchange regarding Appointment of Mr Smt Susheela Balakrishnan as Independent Director of the company w.e.f. August 13, 2025.
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Sakthi Sugars reported weak Q1 FY26 results with a net loss of Rs. 110.08 lakhs on total income of Rs. 30,597.31 lakhs, compared to a profit of Rs. 7,633.85 lakhs in the previous quarter. The statutory auditors issued a qualified report, flagging the non-provision of expected credit loss on Rs. 25,219.69 lakhs of interest receivable from an erstwhile associate company, a recurring qualification since FY20. The Board appointed Smt. Susheela Balakrishnan (DIN: 07140637), a senior Chartered Accountant with 40 years of experience, as an Independent Director for a five-year term effective August 13, 2025. The Board also appointed a new Secretarial Auditor (Sri. R. Dhanasekaran) for five years and STR & Associates as Cost Auditor for FY26, and fixed September 25, 2025 for the 63rd AGM via video conferencing.
The shift from profit to a small loss in Q1 FY26 and the continuing auditor qualification on a large doubtful receivable (Rs. 252+ crore) remain key concerns for shareholders. The new independent director brings strong finance and audit expertise, which may strengthen board oversight, but the unresolved receivables issue continues to be a governance red flag.