Shipping Corporation Of India Land And Assets Limited has informed the Exchange regarding Change in Auditors of the company.
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Awaiting price reaction for this filing.
The Board of Directors of Shipping Corporation of India Land and Assets Limited met on 6 August 2025 and approved the unaudited standalone financial results for the quarter ended 30 June 2025. Despite the headline mentioning a 'change in auditors,' the company did NOT replace its statutory auditor — A. T. Jain & Co. continues as Chartered Accountants and issued an unmodified limited review report. The actual change is the appointment of M/s Upendra Shukla & Associates, Company Secretaries, as the new Secretarial Auditor for a 5-year term (FY2025-26 to FY2029-30), subject to shareholder approval at the upcoming AGM. Q1 FY26 showed revenue of Rs 2,681 lakh (up from Rs 2,462 lakh in Q1 FY25) and profit before tax of Rs 1,935 lakh (up from Rs 1,630 lakh YoY). The company also received a NIL comment from the CAG supplementary audit for FY2024-25.
The 'change in auditor' headline may cause unnecessary confusion — this is a routine secretarial auditor appointment, not a statutory auditor switch, so no governance red flag. Q1 results show healthy YoY growth in both revenue and profit, and a clean CAG review is a positive governance signal for shareholders.