Simmonds Marshall has appointed M/s. Joshi Apte & Associates (FRN: 000240) as its Cost Auditors for the financial year 2026-27. This appointment ensures independent verification of the company's cost records and compliance with statutory requirements under the Companies Act. The firm’s remuneration for these services remains subject to ratification by shareholders at the upcoming Annual General Meeting.

The appointment was formalized on August 7, 2026, by N. S. Marshall, Managing Director of Simmonds Marshall Limited. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Clause 7 of Part A of Scheduled III. Additionally, the company complied with SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, which mandates specific disclosures regarding the appointment of cost auditors.

Appointment Details

The engagement covers a period of one year, commencing from April 1, 2026, and concluding on March 31, 2027. M/s. Joshi Apte & Associates is a leading cost accounting firm in India with offices in Mumbai, Pune, Surat, Indore, and Delhi. The firm serves more than 100 clients nationwide and possesses extensive experience in cost audit, cost record maintenance, costing system implementation, internal audit, income tax certifications, stock audits, and ERP implementation, including SAP systems.

Regulatory Compliance

Simmonds Marshall Limited submitted this disclosure to BSE Limited, where it is listed under Scrip Code 507998. The company confirmed that there are no relationships between the directors and the appointed cost auditors that would compromise independence. The appointment replaces any prior cost auditor arrangements for the specified financial year, ensuring continuity in statutory compliance.

This move aligns with standard corporate governance practices, providing stakeholders with assurance regarding the accuracy and integrity of the company's cost accounting records. The final approval of the auditor's fees will be sought during the Annual General Meeting, adhering to procedural norms set forth in the SEBI LODR Regulations.

Simmonds Marshall Limited reported a consolidated net profit of ₹3.84 crore for the quarter ended June 30, 2026, marking a 71% year-on-year increase from ₹2.24 crore in the corresponding period of the previous year. The industrial fastener manufacturer saw consolidated revenue from operations rise 21% to ₹64.65 crore, up from ₹53.50 crore in Q1FY26. This strong financial performance was accompanied by significant leadership transitions, with the Board appointing Krishna Mohan as Chief Executive Officer effective August 07, 2026, and Suryakant Sethia as Chief Financial Officer effective August 25, 2026, following the resignation of Dhruv Pandya.

The Board of Directors approved the unaudited financial results during its meeting held on August 07, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were subjected to a limited review by the statutory auditors, Lodha & Co. LLP, in accordance with Standard on Review Engagements (SRE) 2410. The company also disclosed the resignation of Dhruv Pandya from the position of Chief Financial Officer, effective August 24, 2026. The 66th Annual General Meeting is scheduled for September 22, 2026.

Financial Performance

Consolidated revenue from operations stood at ₹64.65 crore in Q1FY27, compared to ₹53.50 crore in Q1FY26. Total income for the group reached ₹64.76 crore, driven primarily by operational revenue rather than other income, which declined to ₹11.01 lakh from ₹38.82 lakh in the prior year. Cost of materials consumed rose to ₹27.93 crore from ₹21.35 crore, reflecting higher production volumes. Employee benefits expense increased to ₹12.66 crore from ₹12.04 crore, while finance costs remained stable at ₹17.73 crore.

Standalone figures mirrored the consolidated trend, with revenue reaching ₹60.97 crore against ₹49.75 crore in Q1FY26. Standalone profit before tax surged 128% to ₹51.02 crore from ₹22.35 crore. The company operates in a single reportable business segment: Manufacturing of Industrial Fasteners, with operations located in India.

Leadership Transitions

The Board approved the appointment of Krishna Mohan as Chief Executive Officer (Key Managerial Personnel) effective August 07, 2026. Mohan brings over 29 years of experience in manufacturing operations and plant leadership. Simultaneously, the Board appointed Suryakant Sethia as Chief Financial Officer (Key Managerial Personnel) effective August 25, 2026, succeeding Dhruv Pandya, who resigned from the role. Sethia is a Chartered Accountant with over 20 years of experience in finance, auditing, and treasury management. These appointments were made based on recommendations from the Nomination and Remuneration Committee and Audit Committee.

What the Numbers Show

The primary driver of the profit surge was operational efficiency amidst volume growth. While revenue grew by 21%, total expenses grew at a slower pace of 15%, leading to a disproportionate jump in profit before tax of 127%. This indicates improved operating leverage in Q1FY27 compared to Q1FY26. Additionally, the decline in other income highlights that the current profitability is derived strictly from core manufacturing operations rather than non-operating gains, which had contributed ₹38.82 lakh in the previous year. The stability in finance costs despite higher material consumption suggests effective working capital management.