Synergy Green Industries Limited has informed the Exchange regarding Change in Auditors of the company.
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Synergy Green Industries reported FY2026 results with total income of Rs. 376.37 crores, up marginally from Rs. 363.68 crores in FY2025. However, profit before tax dropped significantly to Rs. 7.55 crores from Rs. 24.99 crores in the previous year - a decline of about 70%. The Board did not recommend any equity dividend for FY2025-26, compared to Re. 1 per share paid earlier. The company appointed new statutory auditor M/s P. G. Bhagwat LLP for 5 years. Cash and cash equivalents declined sharply to Rs. 33.14 lakhs from Rs. 186.08 lakhs. Long-term borrowings increased to Rs. 148 crores from Rs. 55.35 crores, reflecting higher debt levels.
The 70% decline in profitability and absence of equity dividend are likely negative signals for equity shareholders. However, the appointment of a new auditor is routine and should not impact the stock. The significant increase in debt levels warrants monitoring.