IND-AS compliant the Audited Standalone Financial Results along with Independent Auditors'' Report thereon for the quarter and financial year ended 31st March, 2025
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Sobhagya Mercantile Ltd's Board, at its meeting on May 16, 2025, approved the IND-AS compliant audited standalone financial results for the quarter and financial year ended March 31, 2025. The statutory auditors, M/s Joshi & Shah, issued an unmodified (unqualified) opinion on the results, indicating no major concerns. The Board also appointed PDTS & Associates as the new Secretarial Auditor for five years (FY 2025-26 to FY 2029-30) and re-appointed Ashish Mittal & Associates as Internal Auditor for FY 2025-26. Additionally, a Postal Ballot Notice was approved to seek shareholder approval for material related party transactions.
The clean (unqualified) audit opinion is a positive signal suggesting the financial statements are reliable. However, the need for shareholder approval of material related party transactions via postal ballot is a governance item shareholders should review closely.