Appointment of Internal Auditor
SURYALAXMI · price
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Suryalakshmi Cotton Mills Ltd held its Board meeting on May 25, 2026, approving multiple items. The company reported audited financial results for Q4 and FY 2025-26 with an unmodified (clean) audit opinion from statutory auditors. No dividend was recommended for equity shareholders. The Board reappointed M/s. K. Vijayaraghavan & Associates, LLP as Internal Auditors for FY 2026-27, M/s. S. Hariharan & Associates as Cost Auditors, and M/s. Brahmayya & Co. as Tax Auditors. An Independent Director, Sri Dhruv Vijai Singh, completed his tenure on July 27, 2026, and was replaced by Sri Venkata Phani Kiran Kumar Immaneni, a banking professional with 33 years of experience including international exposure. The company extended redemption of 5 lakh 10% Cumulative Redeemable Preference Shares from August 2026 to August 2029 for better cash flow management, while redeeming 2 lakh 5% Non-Cumulative Preference Shares worth Rs 2 crores from profits on June 30, 2026.
The company continues strong governance with clean audits. No dividend and preference share restructuring suggest conservative capital management. The new Independent Director appointment brings international banking expertise to the board.