Sunflag Iron And Steel Company Limited has informed the Exchange regarding Board meeting held on August 11, 2025.
SUNFLAG · price
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Sunflag Iron and Steel's board met on August 11, 2025 (12:00 to 18:00 hrs) and approved the unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended June 30, 2025), which received an unqualified limited review report from statutory auditors NSBP & Co. The board also approved the Board's Report, Management Discussion & Analysis, Corporate Governance Report, and Business Responsibility & Sustainability Report for the 39th AGM. The 39th AGM is scheduled for September 26, 2025 via video conferencing, with September 12, 2025 fixed as the record date for the final dividend on FY25, if approved by shareholders. The board accepted the resignation of Independent Director Mr. Sajiv Dhawan (effective August 10, 2025) due to personal commitments, and recommended the appointment of M/s. Lodha & Co. LLP as the new statutory auditor for 5 years, along with re-appointments of several directors including Managing Director Mr. Pranav Bhardwaj for another 5-year term.
Shareholders should note the September 12, 2025 record date to be eligible for the FY25 final dividend, and watch Q1 FY26 results closely as they will indicate the company's operational trajectory. The shift to a larger audit firm (Lodha & Co.) may improve governance credibility, while continuity in the Bhardwaj family's leadership at the MD and director levels signals stable but promoter-dominated management. The departure of an independent director on personal grounds is a routine event but marginally weakens board independence until a replacement is appointed.