Sundaram Multi Pap Limited has informed the Exchange regarding Change in Auditors of the company.
SUNDARAM · price
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Awaiting price reaction for this filing.
Sundaram Multi Pap's board met on August 12, 2025 and approved its Q1 FY26 (quarter ended June 30, 2025) standalone results. Revenue from operations came in at Rs 4,065.99 lakhs, slightly down from Rs 4,241.91 lakhs in the same quarter last year. The company slipped into a net loss of Rs 44.38 lakhs compared to a small profit of Rs 25.18 lakhs in Q1 FY25, and the full FY25 had ended with a Rs 512.06 lakh loss. The statutory auditor issued a qualified review, flagging unconfirmed trade receivable balances and inadequate provisioning for long-pending dues. The board also appointed M/s. GR Shah and Associates as the new Secretarial Auditor for five years from FY 2025-26 to FY 2029-30, subject to shareholder approval. Separately, the board is exploring acquiring up to 53% in Sundaram Land and Assets Private Limited and has appointed merchant bankers and valuers; no acquisition decision has been taken yet and a follow-up meeting is scheduled for August 20, 2025.
Weak quarterly performance with continuing losses and an auditor qualification on receivables may keep the stock under pressure, but the potential acquisition of a 53% stake in a related entity could be a significant value-moving development worth watching at the August 20 board meeting.