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 its Q1 FY26 (quarter ended 30 June 2025) results, reporting a loss before tax of Rs. 110.08 lakhs on total revenue of Rs. 30,242.41 lakhs, swinging from a profit of Rs. 7,409.55 lakhs in the same quarter last year. The Board appointed Smt. Susheela Balakrishnan, a Chartered Accountant with 40 years of experience, as an Independent Director for a five-year term. The Board also appointed a new Secretarial Auditor (Sri. R. Dhanasekaran) for five years from 1 April 2025 and M/s. STR & Associates as Cost Auditor for FY 2025-26. The statutory auditor issued a qualified review report, flagging the non-provisioning of expected credit loss on Rs. 25,219.69 lakhs of interest receivable from an erstwhile associate company — a recurring qualification since FY20. The 63rd AGM is scheduled for 25 September 2025.
The sharp swing from profit to loss in Q1 and the long-standing auditor qualification on a Rs. 252+ crore receivable raise concerns about earnings quality and asset recoverability, which could weigh on the stock. The director and auditor appointments are routine compliance actions and unlikely to move the needle on their own.