Appointment of Secretarial Auditor and Internal Auditor for the financial year 2026-27
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Southern Magnesium & Chemicals Ltd reported audited FY2025-26 results with total income of Rs. 399.07 lakh, a steep decline from Rs. 1,300.41 lakh in the prior year. Profit after tax fell sharply to Rs. 12.64 lakh from Rs. 319.77 lakh — a drop of approximately 96%. Basic EPS declined to Rs. 0.42 from Rs. 10.66. The Board also appointed M/s. D. Hanumanta Raju & Co. as secretarial auditor and M/s. K. S. Rao & Co. as internal auditor for FY 2026-27. The statutory auditor (M/s. Brahmayya & Co.) issued an unmodified (clean) opinion on the financial statements. Operating cash flow turned significantly negative at Rs. (468.65) lakh in FY2026, compared to a positive Rs. 473.27 lakh in FY2025.
The company has experienced a dramatic contraction in revenue and profitability year-on-year, raising concerns about business viability. Despite the clean audit opinion, the sharp decline in earnings and negative operating cash flow are red flags for investors.