The Board with other matters, considered and approved the unaudited financial results for the quarter ended 30.06.2025
Awaiting price reaction for this filing.
Silicon Valley Infotech's board met on 13 August 2025 and approved the unaudited standalone financial results for the quarter ended 30 June 2025 (Q1 FY26), which were also subjected to a limited review by statutory auditors. The board appointed M/s Dash & Associates as Internal Auditor for FY26 and M/s Ankita Goenka & Associates as Secretarial Auditor for a 5-year term covering FY26 to FY30. Smt Madhu Prajapat was appointed as Executive Director, and the Notice of AGM along with the Director's Report and Secretarial Audit Report for FY25 were approved. The limited review report was issued by Agarwal Sanganeria & Co, which is a different firm from the one that reviewed the June 2024 quarter results, indicating an auditor change. An exceptional item of Rs. 21.59 lakhs was recorded, relating to shares that were earlier written off as untraceable in physical form and have now been credited to the company's DP account.
The clean (unmodified) limited review and routine approvals are procedural and largely neutral for shareholders. Investors should note the change in the reviewing auditor firm compared to the prior year and the one-time exceptional gain of Rs. 21.59 lakhs that will lift reported Q1 profits but is non-recurring in nature.