Sportking India Limited has informed the Exchange about Appointment of Secretarial Auditor
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Sportking India reported Q1 FY26 revenue from operations of Rs. 585.80 crore, down about 7.6% year-on-year from Rs. 634.05 crore, while net profit rose roughly 10% to Rs. 35.15 crore versus Rs. 31.83 crore in Q1 FY25. EPS improved to Rs. 2.77 from Rs. 2.50. The board approved a major Greenfield expansion in Odisha to add 1.50 lakh spindles at an estimated cost of Rs. 1,000 crore, to be funded through term loans and internal accruals over 12–15 months, raising capacity from 3.79 lakh spindles (currently running above 95% utilization). The board also re-appointed Mr. Munish Avasthi as Managing Director and CEO for 3 years, appointed Mr. Chetan Rupal as Whole-time Director, and brought in Mr. Puneet Singhania as Independent Director while re-appointing Mrs. Harpreet Kang. M/s Sunny Kakkar & Associates was appointed as Secretarial Auditor for five years from FY26 to FY30. The 36th AGM is set for August 30, 2025, with a record date of August 23, 2025 for dividend eligibility.
The combination of higher profits despite lower revenue suggests better margins and cost control, which is positive for shareholders. The Rs. 1,000 crore expansion is a significant capital commitment that nearly doubles spinning capacity and could drive future growth, but also raises debt and execution risk. Dividend record date of August 23 confirms an upcoming dividend payout for eligible shareholders.