Usha Martin Limited has informed the Exchange regarding Change in Auditors of the company.
USHAMART · price
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Awaiting price reaction for this filing.
Usha Martin's board met on May 12, 2025 and approved audited financial results for Q4 and FY25 with an unmodified opinion from statutory auditor S R Batliboi & Co. LLP. On a consolidated basis, full-year revenue rose about 8% to Rs. 3,47,416 lakhs, with net profit of Rs. 41,867 lakhs and basic EPS of Rs. 13.17. The board has recommended a final dividend of Rs. 3 per share (300%) for FY25, subject to shareholder approval. It also appointed Mr. Chirantan Chatterjee as Whole-Time Director for 5 years, and brought in new Secretarial Auditor (MKB & Associates), Cost Auditor (Mani & Co.) and Internal Auditor (Deloitte Haskins & Sells LLP) for FY26. The auditor's report highlights ongoing PMLA and CBI cases against the company, its MD and certain officers related to a prior iron-ore mining matter, with attachment of Ranchi land worth Rs. 19,037 lakhs; management sees a strong case and made no adjustments.
Shareholders get a 300% dividend and steady FY25 earnings, but unresolved PMLA/CBI proceedings involving the MD remain a key overhang on sentiment. The clean audit opinion and fresh auditor/leadership appointments are routine and neutral for the stock.