Appointment of Cost Auditor, Internal Auditors and Statutory Auditors.
SHIVAMILLS · price
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Shiva Mills Limited reported annual revenue of ₹13,913.67 lakhs for FY2025-26, down from ₹16,930.54 lakhs in the prior year (approx. 17.8% decline). However, the company swung from a net loss of ₹381.12 lakhs last year to a net loss of ₹8.95 lakhs this year — a significant improvement. Q4 showed a profit of ₹140.62 lakhs vs a loss of ₹70.97 lakhs in Q3 FY2025-26. The Board did not recommend any dividend. Statutory auditors were changed from M/s VKS Aiyer & Co (completed tenure) to M/s CSR & Co for a 5-year term from April 2026. Cost auditor Sri M Nagarajan and internal auditors M/s B M & Associates were also appointed for FY2026-27. The auditors issued an unmodified opinion.
Revenue declined sharply but losses narrowed dramatically, suggesting operational improvements. The auditor change is routine (end of tenure) and not a concern. The small remaining loss and no dividend may keep near-term sentiment muted.