Shiva Mills Limited has informed the Exchange regarding 'Appointment of Cost Auditor, Internal Auditors and Statutory Auditors'.
SHIVAMILLS · price
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Shiva Mills Limited reported audited financial results for FY2025-26 with revenue declining 18% to Rs 13,913.67 lakhs from Rs 16,930.54 lakhs in the previous year. Despite lower revenue, the company significantly narrowed its net loss to Rs 8.95 lakhs compared to a loss of Rs 381.12 lakhs in FY25. For Q4 FY26 alone, the company posted a profit of Rs 140.62 lakhs versus a loss of Rs 76.83 lakhs in Q4 FY25. The Board has not recommended any dividend for FY2025-26. The statutory auditors are being changed from VKS Aiyer & Co (who completed their tenure) to M/s CSR & Co for 5 years from April 2026. Cost auditor M Nagarajan and internal auditors M/s B M & Associates have been appointed for FY2026-27. The auditors issued an unmodified opinion on the financial statements.
While revenue declined significantly, the company returned to profitability in Q4 and nearly broke even for the full year. The complete repayment of Rs 988.58 lakhs in borrowings strengthens the balance sheet. The auditor change is routine due to completion of tenure and should not be a concern for investors.