Suryalakshmi Cotton Mills Limited has informed the Exchange regarding Appointment of M/s. K. Vijayaraghavan & Associates, LLP as Other of the company w.e.f. May 25, 2026.
SURYALAXMI · price
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Suryalakshmi Cotton Mills Limited held its Board meeting on May 25, 2026. The company reported audited financial results for Q4 and FY 2025-26 with an unmodified opinion from statutory auditors. No dividend was recommended for equity shareholders. The Board re-appointed three audit firms - K. Vijayaraghavan & Associates LLP (Internal Auditors), S. Hariharan & Associates (Cost Auditors), and Brahmayya & Co. (Tax Auditors) - all for FY 2026-27. Sri Dhruv Vijai Singh will complete his tenure as Independent Director on July 27, 2026. Sri Venkata Phani Kiran Kumar Immaneni, a banking professional with 33 years of experience including 15 years in China/Hong Kong, has been appointed as an Additional Director (Independent) for 5 years from July 27, 2026. The company also extended redemption of 5 lakh 10% preference shares to August 2029 and approved redemption of 2 lakh 5% preference shares worth ₹2 crores on June 30, 2026.
The appointment of a new independent director with international banking expertise and the smooth re-appointment of all auditors indicates stable governance. However, the absence of dividend and preference share redemption obligations suggest careful cash management. Shareholders should note the upcoming board reconstitution in July.