Appointment of M/s Patkar and Pendse, Chartered Accountants, as a Statutory Auditors of the Company for a term of 5 consecutive years.
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The board of The Ravalgaon Sugar Farm Ltd approved the unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), reporting a total income of Rs. 115.81 lakh and a net loss of Rs. 50.79 lakh, wider than the Rs. 9.16 lakh loss in the same quarter last year. The company has been operationally inactive since selling its confectionery business intellectual property to Reliance Consumer Products Ltd in FY24. The board appointed M/s Patkar and Pendse, Chartered Accountants, as the new statutory auditors for a 5-year term starting from the 90th AGM to the 95th AGM (around 2030), subject to shareholder approval, replacing the previous auditor Anil A. Masand & Co. M/s S.R. Padhye & Co was re-appointed as Secretarial Auditor for FY 2025-26. A labour court ruling in May 2025 ordered the company to pay Rs. 28.22 lakh in gratuity plus Rs. 33.87 lakh in interest to 21 former seasonal workers, which the company is contesting on appeal.
Shareholders should note the wider quarterly loss and continued operational inactivity after the sale of the confectionery business, alongside a pending labour liability appeal. The change of statutory auditor is a routine governance event but the going concern uncertainty and unresolved litigation remain key risks for the stock.