The Board of Directors approves the appointment of Secretarial Auditors for a period of 5 Years
Awaiting price reaction for this filing.
The Board of Directors approved the appointment of Mr. Rahul Saini (Rahul Saini & Co.) as Secretarial Auditor for five years (FY 2025-26 to FY 2029-30), subject to shareholder approval. Mr. Rishi Mohan Bansal was appointed as Cost Auditor for FY 2025-26. The company also announced audited financial results for Q4 and FY ended March 31, 2025, with the statutory auditor (Basant Ram & Sons) issuing an unmodified opinion. FY25 revenue from operations fell sharply to Rs. 26,834.09 lakhs from Rs. 46,215.43 lakhs in FY24, and the company reported a net loss of Rs. 4,460.01 lakhs versus a Rs. 918.67 lakh loss last year. The distillery did not operate during Sugar Season 2024-25 due to needed repairs. The company is now a subsidiary of Triveni Engineering & Industries Ltd (TEIL), which is providing financial and technical support; a composite scheme of amalgamation with TEIL is awaiting stock exchange approval. A change in accounting policy for land measurement from revaluation to cost model reduced revaluation surplus by Rs. 82,340.69 lakhs.
Routine auditor appointments with no immediate stock price impact, but the deeper story is weak: revenue nearly halved, losses widened significantly, and the company remains dependent on its parent TEIL for survival. Shareholders are effectively waiting on the pending merger with TEIL to resolve the going concern and negative equity situation.