Announcement under Regulation 30 of SEBI (LODR) Regulations, 2015 - Appointment of Internal Auditor
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The board approved audited standalone financial results for FY 2025-26 showing revenue from operations grew 27% to Rs 2,330 lakhs from Rs 1,830 lakhs, driven by higher income in both MTI and Others segments. However, profit before tax declined 40% to Rs 3,934 lakhs (vs Rs 6,514 lakhs) due to significantly higher other expenses. The company returned to profitability with net profit of Rs 2,882 lakhs compared to a loss of Rs 18,938 lakhs in the previous year. The auditors issued an unmodified (clean) opinion. The board recommended a dividend of Rs 0.55 per share (5.5% on face value Rs 10), entailing Rs 25.62 crores outflow, subject to shareholder approval. Additionally, M/s Amit Ray & Co. was appointed as Internal Auditor for two years starting April 1, 2026.
Return to profitability from heavy prior losses is positive, though the 40% decline in annual profit despite revenue growth signals cost pressures. The dividend announcement is encouraging for income-focused investors. The appointment of a new internal auditor may indicate enhanced governance focus.