Appointment of Secretarial Auditor.
Price
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Awaiting price reaction for this filing.
Sita Enterprises held a board meeting on May 22, 2025 where it approved audited financial results for Q4 and full year ended March 31, 2025. The statutory auditor Patel Shah & Joshi issued an unmodified (clean) opinion on the results. The company swung to a profit, posting a Profit After Tax of around Rs 112.41 lakhs for FY25 compared to a loss of Rs 81.13 lakhs in FY24. Total revenue stood at Rs 150.43 lakhs (FY25) versus Rs 177.34 lakhs (FY24). The Board also appointed Kala Agarwal (Membership No. 5976) as the Secretarial Auditor for FY 2025-26 and approved modifications to the Code of Practices for Fair Disclosure of Unpublished Price Sensitive Information. A note also mentions an ongoing share purchase and open offer process by acquirers for 70% stake from promoters (24 Dec 2024 agreement), with SEBI observation received and RBI approval awaited since the company is an NBFC.
For shareholders, the main positive is the return to profitability in FY25 after a prior-year loss, accompanied by a clean audit opinion, which generally supports confidence in the books. The appointment of a new Secretarial Auditor and the open offer/RBI approval process for change in control are routine corporate housekeeping items with no immediate material effect on the share price, though the open offer outcome could be a near-term catalyst to watch.