Q1 profit up 26%, statutory auditor and CFO resign

Auditor Resigned MidtermCfo ResignedManagement Changes View source PDF Explain this filing

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+43.9%1-day move

₹767.90

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AI summary

Shivalik Bimetal posted strong Q1 FY27 results: standalone net profit up 26 percent to Rs 26.4 crore on revenue of Rs 131.8 crore; consolidated net profit up 45 percent to Rs 33 crore. Statutory auditor Arora Gupta and Co resigned mid-term citing expanded audit scope and resource constraints, replaced by Walker Chandiok and Co LLP for a proposed 5-year term. CFO Rajeev Ranjan also resigns effective Oct 31, 2026. AGM set for Sept 2, 2026; Aug 26 is record date for FY26 final dividend.

Likely market impact

Strong Q1 earnings are positive; auditor exit was amicable with no governance flags, but CFO change adds near-term uncertainty. Watch AGM outcome.