Intimation for Appointment of Internal Auditor and Cost Auditor
SAMBHV · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Sambhv Steel Tubes Limited held a board meeting on May 09, 2026 and approved multiple items. The company reported strong audited financial results: standalone net profit surged to ₹1,901.87 million for FY2026 from ₹781.79 million in FY2025, more than doubling year-on-year. The board approved a major capacity expansion at its Sarora unit, adding 150,000 MTPA pipe manufacturing capacity and a 30 MW captive power plant with total investment of ₹2,000 million (₹500M + ₹1,500M), funded via debt and internal accruals, targeted for completion by December 2027. In governance changes, Mr. Bikash Agrawal was appointed as Additional Executive Director, Mr. Suresh Kumar Goyal was re-designated as Chairman cum Managing Director, and two executive directors were re-appointed. Mr. Shashank Goyal was appointed as Senior Management Personnel. Agrawal Jain & Co was appointed Internal Auditor and AS Rao & Co as Cost Auditor for FY 2026-27.
The strong doubling of net profit is a positive signal for shareholders. The capacity expansion demonstrates management's confidence in demand outlook, though it involves significant debt funding. Governance changes appear routine with no red flags.