PLEASE FIND THE DISLCOSURE FOR REAPPOINTMENT OF M/S M D N & ASSOCIATES , AS INTERNAL AUDITOR OF THE COMPANY FOR THE FY 2025-26.
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Simplex Castings held a board meeting on 30 May 2025 and approved audited results for Q4 and FY ended 31 March 2025, reporting revenue from operations of ₹171.88 Crore (up about 41% from ₹122.13 Crore last year) and net profit of ₹15.13 Crore (up over 6x from ₹2.39 Crore). The board reappointed Mr. Ketan Moolchand Shah as Whole-Time Director designated Chairman and CEO for a further five years from 10 July 2025 to 9 July 2030. It also reappointed M/s Meena Naidu & Associates as Secretarial Auditor (5 years) and M/s M D N & Associates as Internal Auditor for FY 2025-26, and appointed M/s Sashi Ranjan & Co. as Cost Auditor. The board approved a preferential issue of up to 5,75,862 equity shares at ₹246 each (₹14.17 Crore) to the promoter and three non-promoter allottees, and called an EGM on 21 June 2025 to seek shareholder approval.
Strong FY25 results with a sharp jump in profit signal improved operating performance. The preferential issue at ₹246 (a steep premium to face value of ₹10) will cause minor dilution but promoter participation signals management confidence, while continuity in the CEO role provides leadership stability.