Scoda Tubes Limited has informed the Exchange regarding Change in Auditors of the company.
SCODATUBES · price
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Awaiting price reaction for this filing.
Scoda Tubes Limited announced its first financial results as a listed company, having recently completed an IPO on June 4, 2025 (raised Rs 2,200 million at Rs 140/share). For FY25, total income grew to Rs 4,888.46 million from Rs 4,024.88 million in FY24. Profit after tax surged to Rs 317.74 million, up from Rs 183.01 million, a roughly 74% jump. The statutory auditor M/s. Dhirubhai Shah & Co LLP issued an unmodified (clean) opinion. Contrary to the headline, the statutory auditor was not changed — what changed was the appointment of M/s. HVG & Associates as the new internal auditor for FY 2025-26.
Positive for shareholders — strong top-line growth and a significant jump in profits in the first reported year as a public company, with a clean audit opinion. The internal auditor change is a routine governance step and not a red flag.