Appointment of Statutory auditor to fill casual vacancy
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At a board meeting on May 10, 2025, Swadha Nature Limited accepted the resignation of statutory auditor Mr. Sanket Shah (who was midway through his 5-year term ending at the 2028 AGM) citing severe health issues, and appointed M/s. P H Shah & Co, Chartered Accountants (FRN 115464W) to fill the casual vacancy until the next AGM. The board also approved the audited Q4 and FY25 financial results, which show revenue from operations of Rs 8.97 lakhs (vs Rs 4.93 lakhs in FY24) but a net loss of Rs 2.64 lakhs (vs a profit of Rs 1.84 lakhs in FY24), with EPS of (0.06). Additionally, Mrs. Manjula Poddar was appointed as Secretarial Auditor for FY25, and the board approved shifting the registered office from Bihar to Gujarat via postal ballot. Total assets stood at Rs 93.14 lakhs with negative other equity of Rs 348.01 lakhs, indicating accumulated losses well in excess of share capital.
The auditor change is driven by personal health reasons rather than any dispute, and the company appointed a replacement within the same day, so it should not materially affect shareholders. However, the FY25 results swing back to a loss after a small profit the prior year, and the deeply negative reserves signal ongoing financial weakness that investors should monitor.