Intimation for the appointment of the followings- 1. Internal Auditor 2. Secretarial Auditor 3. Additional Independent Director
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USG Tech Solutions' board, at its May 27, 2025 meeting, appointed Ms. Rolly Tiwari as the new Company Secretary & Compliance Officer after the previous CS, Ms. Himanshi Rawat, resigned. Two new Additional Directors (Non-Executive, Independent) — Ms. Anubha Chauhan and Mr. Ramanuj Murlinarayan Darak — were added to the board. The board also appointed M/s Chandni Singla & Associates as Internal Auditor for FY 2025-26 and M/s Chandan Jha & Associates as Secretarial Auditor for FY 2024-25. Audited standalone and consolidated financial results for Q4 and FY ended March 31, 2025 were approved with an unmodified auditor's opinion. Additionally, the board approved setting up a Green Hydrogen Plant and the shifting of the registered office within Hyderabad. The auditor's report, however, flagged cash losses of Rs 46.29 lakh in FY25 (vs Rs 18.13 lakh in FY24) and a material uncertainty about the company's ability to meet liabilities as they fall due.
Multiple governance changes (new CS, two new independent directors) indicate a board refresh, while the Green Hydrogen Plant approval marks a strategic diversification into clean energy. However, the auditor's flagging of cash losses and going-concern uncertainty tempers the optimism, and shareholders should watch for execution on the new business and improvement in financial performance.