Appointment of Secretarial Auditor and internal Auditor
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Awaiting price reaction for this filing.
Sanmitra Commercial Limited's board, at its meeting on 30th May 2025, approved the audited financial results for Q4 and FY ending 31st March 2025, with the statutory auditor issuing an un-modified opinion. Total revenue for FY25 rose to Rs. 61.03 lakhs from Rs. 25.58 lakhs in FY24, while profit after tax jumped to Rs. 36.84 lakhs (from Rs. 10.17 lakhs), translating to EPS of Rs. 3.35 vs Rs. 0.92. However, other comprehensive income took a hit of Rs. 54.94 lakhs in Q4 due to fair valuation losses on financial assets. The board also reappointed Ms. Neha Kulkarni as Internal Auditor for FY26 and appointed M/s. Pooja Gandhi & Co. as Secretarial Auditor for a five-year term (FY26–FY30), subject to shareholder approval. The auditor flagged unsettled trade payables and receivables from the company's discontinued business (since FY19) and unconfirmed loans and advances as areas of concern.
Strong FY25 earnings growth is positive, but the emphasis-of-matter on old receivables and unconfirmed loans signals lingering balance-sheet risks. The auditor appointments are routine and unlikely to move the stock.