The Board considered and approved the Unaudited Financial Results of the Company along with the Limited Review Report as issued by Statutory Auditor of the Company for the 1st quarter ended ....
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The board met on August 13, 2025 and approved unaudited Q1 FY26 results (quarter ended June 30, 2025) along with the limited review report by the statutory auditor. Profit after tax surged to ₹68.49 lakhs from ₹11.42 lakhs in Q1 FY25, a jump of nearly 500%, while EPS stood at ₹0.03. Notably, revenue from operations was nil this quarter (vs ₹1,098.93 lakhs for full FY25), with the entire profit driven by other income of ₹110.96 lakhs. The board also approved a 49% cap on aggregate FPI/FII/FDI/NRI investment, raised thresholds for loans/guarantees under Sections 185 and 186, appointed a new Secretarial Auditor (Vishakha Agrawal & Associates) for 5 years, and fixed the 37th AGM for September 26, 2025 via video conferencing. A mid-year statutory auditor change was disclosed: Rawka & Associates resigned and M/s Chandabhoy & Jassoobhoy was appointed to fill the casual vacancy until the next AGM.
Strong headline PAT growth is encouraging but entirely dependent on other income rather than core tyre business revenue, which has gone to zero — investors should watch for whether operations restart. The mid-year statutory auditor change is a governance red flag worth monitoring.