Super Spinning Mills Limited has informed the Exchange regarding 'Appointment of Secretarial auditor and Internal auditor '.
SUPERSPIN · price
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Awaiting price reaction for this filing.
The Board of Super Spinning Mills met on May 23, 2025 and approved audited financial results for Q4 and FY ended March 31, 2025, with an unmodified auditor opinion. For FY25, the company reported total income of Rs. 687.06 lakhs from continuing operations (down from Rs. 706.88 lakhs in FY24) and a net loss of Rs. 1,640.64 lakhs, narrowing from Rs. 2,089.45 lakhs in FY24, with a loss per share of Rs. 2.98. The company has discontinued its textile operations and now operates mainly through rental services. The Board also appointed Mr. A Palaniappan as Internal Auditor for FY 2025-26 and M/s. MOS & Associates LLP as Secretarial Auditors for five years (FY 2025-26 to FY 2029-30), subject to shareholder approval. Mr. Sumanth Ramamurthi was re-appointed as Chairman and Managing Director for another five years effective April 1, 2026. The 63rd AGM is scheduled for September 10, 2025 via video conferencing.
Despite the narrowed loss, the company remains in the red with ongoing power dispute exposures (Rs. 8,114 lakhs in contested claims from SPDCL). Routine auditor appointments and the re-appointment of the promoter CMD provide continuity but offer no immediate positive catalyst for the stock.