Amforge Industries Limited has appointed M/s. J. Singh & Associates, Chartered Accountants, as its internal auditors for the financial year 2026-27. The Board of Directors approved the appointment during a meeting held on August 11, 2026, ensuring continued compliance with regulatory oversight requirements for the upcoming fiscal period.

The appointment was formalized under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company also cited SEBI Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, along with other relevant SEBI circulars, as the regulatory basis for this disclosure. Bhavana Divyesh Shah, Company Secretary & Compliance Officer, signed the intimation to the Bombay Stock Exchange.

Appointment Details

The firm, identified by Firm Registration Number (FRN) 110266W, will serve as the internal auditor for the specified term. The engagement is subject to terms and conditions determined by the Board from time to time. There is no change in existing audit arrangements; this is a new appointment for the stated financial year.

Auditor Profile

M/s. J. Singh & Associates is a partnership firm established on April 14, 1978. Beyond its role as an internal auditor for Amforge Industries, the firm holds multiple audit and advisory mandates across various corporates. Its portfolio includes roles as Statutory Auditor, Forensic Auditor, Concurrent Auditor, Stock Auditor, agency for Specialised Monitoring, and Special Investigation Management Consultant.

Regulatory Compliance

The disclosure confirms that there are no relationships between the directors of Amforge Industries Limited and the appointed auditors that would require additional disclosure under the Listing Regulations. The appointment process adheres to standard corporate governance protocols, with the Board retaining the authority to define specific terms of engagement.

Amforge Industries reported a net profit of ₹36.97 lakh for the first quarter ended June 30, 2026, marking a significant turnaround from the net loss of ₹48.08 lakh recorded in the preceding quarter. The positive shift, driven by higher other income and controlled expenses, signals improved operational efficiency for the industrial manufacturing firm. Total income rose to ₹98.72 lakh compared to ₹61.81 lakh in the prior period, while total expenses fell sharply to ₹61.75 lakh from ₹110.37 lakh.

The Board of Directors approved the unaudited financial results on August 11, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The statutory auditors, Banka & Banka, issued an unmodified limited review report on the financial statements. Additionally, the Board appointed M/s Hemanshu Kapadia and Associates as Secretarial Auditors and M/s J. Singh & Associates as Internal Auditors for the financial year 2026-27.

Financial Performance

The company’s total income for Q1FY27 stood at ₹98.72 lakh, primarily derived from other income, as revenue from operations remained nil. This represented an increase from ₹61.81 lakh in the corresponding quarter of FY26. Total expenses decreased to ₹61.75 lakh from ₹110.37 lakh in the previous quarter, contributing to the bottom-line improvement.

Earnings per share (basic) stood at ₹0.26 for the quarter, compared to a loss per share of ₹0.33 in the preceding quarter. The company did not incur any current tax liability for the quarter based on its assessment of taxable income under the Income-tax Act, 2025.

Key Corporate Actions

In addition to approving the financial results, the Board took several key governance decisions. The re-appointment of Jayesh Vinodchandra Thakkar as Managing Director was approved for a term of three years, commencing from May 24, 2027, to May 23, 2030, subject to shareholder approval at the ensuing Annual General Meeting. Mr. Thakkar, a Chartered Accountant with over 25 years of experience, has been associated with the company for more than two decades.

The Board also appointed M/s Hemanshu Kapadia and Associates as Secretarial Auditors and M/s J. Singh & Associates as Internal Auditors for the financial year 2026-27. These appointments were made in accordance with the Listing Regulations and relevant SEBI Circulars, including Circular No HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

What the Numbers Show

The shift from a net loss to a net profit in Q1FY27 highlights a reduction in operational costs rather than growth in core business revenue, which remained at zero. While other income increased significantly to ₹98.72 lakh, the substantial drop in other expenses from ₹79.65 lakh to ₹32.53 lakh played a critical role in improving profitability. Investors should monitor whether this cost containment strategy can be sustained alongside potential revenue generation in future quarters.