Appointment of Secretarial Auditor and Internal Auditors of the Company
VMART · price
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V-Mart Retail's Board, at its May 2, 2025 meeting, approved audited FY25 results showing a turnaround — net profit of Rs. 4,396 lakhs (pre-tax) versus a loss of Rs. 13,050 lakhs in FY24, driven mainly by a one-time exceptional gain of Rs. 2,418 lakhs from lease reassessment under Ind AS 116. Q4 FY25 standalone revenue stood at Rs. 78,008 lakhs with a net profit of Rs. 1,851 lakhs (EPS Rs. 9.35). The Board recommended a 3:1 bonus share issue (3 free shares for every 1 held), issuing ~5.94 crore new shares to be funded from the securities premium account (Rs. 492 crores available). No dividend was declared for FY25, with profits being retained for growth. Authorized share capital will be raised from Rs. 25 crores to Rs. 95 crores to accommodate the bonus. KPMG was re-appointed as Internal Auditor for FY26, and Agarwal S. & Associates was appointed as Secretarial Auditor for 5 years (FY26 to 28th AGM).
The 3:1 bonus issue will quadruple the share count and mechanically reduce the stock price to roughly one-fourth, but it does not change the company's underlying value. The return to profitability is encouraging, though heavily aided by a one-time accounting gain on lease remeasurement. Skipped dividend signals management's preference to preserve cash for expansion.