Usha Martin Limited has informed the Exchange about appointment of Whole Time Director.
USHAMART · price
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Awaiting price reaction for this filing.
Usha Martin's board approved audited Q4 and FY25 results. Consolidated revenue from operations rose ~7.7% YoY to Rs. 3,47,416 lakhs, with profit after tax up ~4.2% to Rs. 41,063 lakhs (EPS Rs. 13.37). The board recommended a Rs. 3 per share dividend (300%) for FY25, subject to shareholder approval at the AGM. Mr. Chirantan Chatterjee (DIN: 10506056) was appointed Whole-Time Director for a 5-year term effective May 12, 2025. The board also appointed MKB & Associates as Secretarial Auditor, Mani & Co. as Cost Auditor, and Deloitte Haskins & Sells LLP as Internal Auditor for FY25-26. The statutory auditor issued an unmodified opinion but highlighted ongoing CBI/ED/PMLA cases related to historical iron ore fines sales (Rs. 19,037 lakhs) involving the company, its MD and certain officers, noting that current operations remain unaffected.
Steady top-line growth, modest profit increase, and a healthy 300% dividend are positive for shareholders. Governance refresh with new leadership and top-tier auditors is a positive signal, though the long-pending CBI/ED/PMLA cases related to old iron ore transactions continue to be a key overhang worth monitoring.