W S Industries (I) Limited has informed the Exchange regarding Board meeting held on August 07, 2025.
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The board of W.S. Industries (India) Limited approved several items at its meeting on August 7, 2025. First, it approved the rollover of 3,50,000 non-convertible preference shares held by Vensunar Private Limited (extended to March 31, 2027) and 9,25,000 preference shares held by Trala Electromech Systems Private Limited (extended to September 24, 2026). Second, Mr. P. Raju Iyer was appointed as Cost Auditor for FY 2025-26. Third, the board approved the standalone and consolidated unaudited financial results for Q1 FY26 (quarter ended June 30, 2025), reporting standalone revenue of Rs 26.05 crore and net profit of Rs 1.23 crore, with consolidated revenue of Rs 26.05 crore and net profit of Rs 1.44 crore. Finally, statutory auditors Brahmayya & Co. resigned effective August 7, 2025, citing other professional commitments amid the company's increased operations. They had completed the Q1 limited review before stepping down.
The results show a significant decline from Q1 FY25 (standalone profit of Rs 6.01 crore vs Rs 1.23 crore now), suggesting weaker operational performance despite the preference share extensions providing capital stability. The auditor resignation, although explained as routine (completed Q1 review first), creates a need to appoint a new statutory auditor and may cause short-term governance concerns.