Outcome of Board Meeting held on Wednesday, 13th August, 2025.
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Saraswati Commercial India announced unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025), which received an unmodified limited review report from auditors. Standalone total income fell sharply to Rs 3,146.69 lakhs from Rs 6,821.38 lakhs in Q1 FY25, a decline of about 54%, driven mainly by lower net gains on fair value changes (Rs 3,019.26 lakhs vs Rs 6,737.51 lakhs). Net profit after tax dropped to Rs 2,358.12 lakhs from Rs 5,244.66 lakhs, translating to EPS of Rs 258.79 vs Rs 509.23. The board also approved the 42nd AGM notice for September 25, 2025, re-appointments of directors, and notably accepted the resignation of statutory auditor M/s. Ajmera Ajmera & Associates, appointing M/s. GBCA & Associates LLP as the new statutory auditor for a 3-year term.
The sharp YoY decline in both revenue (~54%) and profit (~55%) is largely due to lower mark-to-market gains on equity investments and may cause short-term negative sentiment. The mid-year change of statutory auditors warrants a closer look at the reasons behind the outgoing auditor's resignation.