Sun Pharma Advanced Research Company Limited has informed the Exchange regarding Change in Auditors of the company.
SPARC · price
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SPARC's board approved audited FY25 results showing revenue from operations of Rs. 71.77 crore (down from Rs. 75.55 crore last year) with a narrowed standalone net loss of Rs. 345.22 crore versus Rs. 388.11 crore in FY24. Loss per share for the year stood at Rs. (10.64). The board also cleared a proposal to raise up to Rs. 1,800 crore through securities in one or more tranches, subject to shareholder approval at the upcoming AGM. Two new independent directors — Ms. Rekha Warriar (former RBI official) and Mr. Venkateswarlu Jasti (CMD of Suven Life Sciences) — were appointed for five-year terms. Existing CEO Anilkumar Raghavan was re-appointed for another five years effective May 2026. The company also appointed KJB & Co. LLP as its new secretarial auditor for five years. Cash reserves have dropped sharply to Rs. 1.19 crore, and the company continues to rely on a support letter from its promoter group to maintain its going-concern status.
The planned Rs. 1,800 crore fundraise is the most significant item for shareholders — it signals fresh capital infusion but will likely lead to equity dilution pending structure and pricing. While losses are narrowing, persistent cash burn, negative net worth of Rs. 220 crore (standalone), and dependence on promoter support remain key risks for the stock.