As per letter Attached. The Board approved appointment of Secretarial Auditor for a term of 5years. Kindly refer Annexure E
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Awaiting price reaction for this filing.
Simplex Realty's board, at its 21st May 2025 meeting, approved audited standalone and consolidated financial results for Q4 and FY ended 31st March 2025. Standalone total income rose to ₹1,259.97 lakhs (from ₹847.31 lakhs in FY24), driven mainly by a ₹192.42 lakhs interest income from an income tax refund, while standalone profit after tax fell to ₹131.64 lakhs (from ₹518.03 lakhs) due to absence of exceptional items booked last year. Statutory auditors Khandelwal & Mehta LLP issued an unmodified opinion, though they flagged going concern doubts at two associate companies (Simplex Mills and Simplex Papers) whose net worth is fully eroded. The board appointed Smt. Manju Bagga (former LIC professional) as an Additional Non-Executive Director, accepted the resignation of LIC nominee Shri Praveen Kumar due to LIC's tenure policy, approved incorporating a wholly owned subsidiary (Simplex Dream Homes Pvt Ltd) with ₹1 lakh capital for new real estate projects, and appointed M/s Taher Sapatwala & Associates as Secretarial Auditor for five years. A 49% joint venture with Modern Estates India Pvt Ltd was also approved through subsidiary Simplex Modern Home Pvt Ltd. The 112th AGM is scheduled for 6th August 2025.
Mixed signals for shareholders: top-line growth on tax refund boost is positive, but sharp PAT decline and going concern flags at associate companies raise concerns; the new subsidiary and JV signal business expansion, while director churn appears routine (LIC nominee rotation). No immediate trigger for a sharp stock move, but the associate-level stress note warrants monitoring.