Re-appointment of Internal Auditor
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Universal Autofoundry's board, which met on May 15, 2025, approved audited FY25 results showing revenue of Rs. 193.35 crore (down from Rs. 202.51 crore) and profit after tax of Rs. 2.35 crore (down sharply from Rs. 4.89 crore in FY24). Statutory auditor Goverdhan Agarwal & Co. issued an unmodified opinion. The board also noted the lapse of 12.20 lakh fully convertible warrants on April 12, 2025, with the company forfeiting Rs. 6.17 crore in upfront payments previously made by allottees. The Company Secretary and Compliance Officer, Ambika Sharma, resigned for personal reasons effective June 2, 2025. Additionally, M/s Arms & Associates was appointed as Secretarial Auditor for 5 years, while Shah Patni & Co. and Girdhar Chaudhary & Co. were re-appointed as Internal Auditor and Cost Auditor respectively for one year each.
Shareholders should note the significant ~52% decline in FY25 profit and revenue contraction, alongside the Rs. 6.17 crore forfeiture which provides a one-time boost but signals weak promoter/investor commitment to convert warrants. The KMP resignation is a routine event but worth monitoring for any further governance changes.