Appointment of M/s Harish P. Jain & Associates as Secretarial auditor of the Company for a term of 5(five) consecutive years from 2025-26 to 2029-30
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SGL Resources Ltd (formerly Scanpoint Geomatics) announced audited FY25 results with revenue from operations rising about 65% to Rs 4,871.29 lakhs from Rs 2,952.75 lakhs in FY24, though net profit dipped slightly to Rs 140.40 lakhs from Rs 161.86 lakhs. The company raised Rs 9,734.22 lakhs through share issuance during the year, lifting total equity to Rs 18,489 lakhs. Notably, statutory auditor M/s R V Somani & Associates resigned just weeks after being appointed at the July 18, 2025 EGM, citing pre-occupation in other assignments; the auditors flagged no concerns or disagreements. M/s Ram Chandak & Associates has been appointed to fill the casual vacancy until the next AGM. M/s Harish P. Jain & Associates was re-appointed as secretarial auditor for five years (FY26–FY30). Mr. Suhit Bakshi joined as an additional non-executive non-independent director, and the 33rd AGM is scheduled for September 30, 2025.
Investors should note the unusual mid-term statutory auditor change so soon after appointment — while no governance concerns were flagged, such rapid turnover can draw scrutiny. Strong revenue growth and a substantial equity raise are positives, but profit declined slightly year-on-year.