Approval of Audited Financial Result for the FY 2024-25
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The board, at its meeting on 26 May 2025, approved the audited standalone financial results for the quarter and year ended 31 March 2025. Statutory auditor M.R. Hegde & Associates issued an unmodified (clean) opinion on the financial statements, with no qualifications or emphasis-of-matter issues flagged. Alongside the results, the board re-appointed internal auditors for the Karnataka and Kerala units, appointed Mr. Nagwel Shelhar Madhukar as the new Chief Finance Officer (effective 7 June 2025) following the retirement of the outgoing CFO, and noted the resignation of the Company Secretary effective 31 May 2025. Specific revenue and profit figures in the filing could not be clearly read due to poor document scan quality.
The clean audit opinion is a positive signal, indicating the financial statements are reliable and free of material misstatements. However, the simultaneous exit of the CFO and Company Secretary within days may raise short-term governance concerns for shareholders to watch.