Appointment of Mr. Suhit Bakshi (DIN: 06395813) as an additional director in the category of Non-executive Non Independent Director of the Company
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SGL Resources' board approved multiple items in its September 4, 2025 meeting. Statutory auditor M/s R V Somani & Associates resigned mid-term citing pre-occupation and other commitments; the audit committee noted no concerns were raised. M/s Ram Chandak & Associates has been appointed to fill the casual vacancy until the next AGM. The board also approved audited FY25 results with an unmodified opinion: revenue from operations grew to Rs 4,871.29 lakhs (vs Rs 2,952.75 lakhs in FY24), but profit after tax dipped to Rs 140.40 lakhs (vs Rs 161.86 lakhs), with EPS at Rs 0.08. Mr. Suhit Bakshi (DIN: 06395813) was appointed as an Additional Non-Executive Non-Independent Director, subject to shareholder approval. The 33rd AGM is scheduled for September 30, 2025 via video conferencing.
The mid-term statutory auditor change, just weeks after appointment for the FY24-25 audit, may raise governance questions despite no issues flagged. Revenue growth is strong but bottom-line contraction and full-year depreciation being booked in Q4 distort comparability. The director addition is routine pending shareholder approval.