Sudal Industries Board Appoints KRS AND CO. as Secretarial Auditor for FY26

1 min read     Updated on 31 Mar 2026, 02:23 AM
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AI Summary

Sudal Industries Limited's board of directors approved the appointment of M/s. KRS AND CO. as secretarial auditors for FY 2025-2026 during their meeting on March 30, 2026. The appointment was formally communicated to BSE under regulatory compliance requirements, with the auditing firm bringing extensive experience in corporate laws, SEBI regulations, and various compliance areas.

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Sudal Industries Limited has officially appointed M/s. KRS AND CO. as its secretarial auditor for the financial year 2025-2026, following a board meeting held on March 30, 2026. The appointment was approved during the board meeting that commenced at 4:30 PM and concluded at 5:40 PM, as disclosed in the company's regulatory filing to BSE.

Board Meeting Outcome

The board of directors formally considered and approved the appointment of M/s. KRS AND CO. Practicing Company Secretaries as the company's secretarial auditors. The appointment was communicated to BSE under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, with the disclosure signed by Mr. Mukesh Vijayshi Ashar, Whole-Time Director and CFO.

Parameter: Details
Auditor Name: M/s. KRS AND CO. Company Secretaries
FRN: S2017MH469000
Representative: CS Ketan Ravindra Shirwadkar
Membership No.: F13938
COP No.: 15386
Appointment Term: Financial Year 2025-2026
Appointment Date: March 30, 2026
Peer Review No.: 3967/2023

Auditor Profile and Expertise

M/s. KRS AND CO. is a peer-reviewed proprietorship firm established in 2017 with its office located in Thane. CS Ketan Ravindra Shirwadkar brings over 10 years of post-qualification experience in company law, SEBI regulations, and FEMA compliance.

The firm's expertise spans multiple areas of practice including corporate laws, IPO and FPO processes, listing and listing compliances, secretarial management guidance and audit, due diligence and compliance audit, corporate governance audit, merger acquisition and corporate restructuring, FEMA, RBI, and other economic laws.

Professional Infrastructure

KRS AND CO. maintains adequate infrastructure and professional staff to deliver timely, diligent, and efficient professional services. The firm's comprehensive experience in various regulatory frameworks positions it well to handle Sudal Industries' secretarial audit requirements for the upcoming financial year.

Regulatory Compliance

The appointment was made in accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all necessary disclosures as required under Schedule III Part A of SEBI (LODR) Regulations, 2015, along with compliance to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The official communication was filed with BSE under scrip code 506003.

Historical Stock Returns for Sudal Industries

1 Day5 Days1 Month6 Months1 Year5 Years
+0.12%+2.89%-5.86%-51.64%+21.81%+1,172.63%

What factors led Sudal Industries to change their secretarial auditor, and does this signal any upcoming corporate restructuring or compliance challenges?

How might KRS AND CO.'s expertise in IPO/FPO processes indicate Sudal Industries' potential capital market plans for FY 2025-26?

Will the new secretarial auditor's focus on merger and acquisition services suggest possible M&A activities in Sudal Industries' strategic roadmap?

Sudal Industries Reports Q2 Results Amid Ongoing Supreme Court Appeal

2 min read     Updated on 15 Nov 2025, 10:21 AM
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Sudal Industries Limited announced Q2 2025 results with revenue growth but decreased profitability. Revenue from operations increased by 25.92% to ₹4,496.96 lakhs, while profit before tax decreased by 56.12% to ₹51.87 lakhs compared to Q2 2024. The company's financial position remains subject to a Supreme Court appeal regarding its Pre-package Insolvency Resolution Plan. Management believes in a favorable outcome, but auditors highlight material uncertainty. Total assets stood at ₹6,388.15 lakhs with total equity of ₹2,692.74 lakhs as of September 30, 2025.

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Sudal Industries Limited , a manufacturer of aluminum extrusions and downstream value-added products, has announced its unaudited financial results for the second quarter and half-year ended September 30, 2025. The company's performance comes amid an ongoing legal battle concerning its Pre-package Insolvency Resolution Plan (PIRP).

Financial Highlights

For the quarter ended September 30, 2025, Sudal Industries reported:

Particulars Q2 2025 (₹ in lakhs) Q2 2024 (₹ in lakhs) % Change
Revenue from Operations 4,496.96 3,571.37 +25.92%
Total Income 4,507.39 3,580.59 +25.88%
Profit Before Tax 51.87 118.22 -56.12%
Profit After Tax 65.24 66.22 -1.48%

For the half-year ended September 30, 2025:

Particulars H1 2025 (₹ in lakhs) H1 2024 (₹ in lakhs) % Change
Revenue from Operations 8,665.95 7,014.00 +23.55%
Total Income 8,684.10 7,032.73 +23.48%
Profit Before Tax 123.50 324.61 -61.95%
Profit After Tax 106.08 242.61 -56.28%

Operational Performance

The company witnessed a significant increase in revenue from operations, with a 25.92% year-on-year growth in Q2 2025. However, profitability has been impacted, as evidenced by the 56.12% decrease in profit before tax for the same period.

Legal Proceedings and Going Concern

Sudal Industries' financial position remains subject to the outcome of a Supreme Court appeal regarding its Pre-package Insolvency Resolution Plan (PIRP). The National Company Law Appellate Tribunal (NCLAT) had previously set aside the PIRP approved by the National Company Law Tribunal (NCLT). The company has appealed this decision in the Supreme Court, which granted a stay on the NCLAT order on October 4, 2024.

The management, based on expert legal opinion, believes in a favorable outcome of the appeal and considers it appropriate to prepare the financial results on a going concern basis. However, the auditors have highlighted this as a material uncertainty in their limited review report.

Balance Sheet Position

As of September 30, 2025, Sudal Industries reported:

Particulars Amount (₹ in lakhs)
Total Assets 6,388.15
Total Equity 2,692.74
Non-Current Liabilities 1,594.10
Current Liabilities 2,209.83

Cash Flow and Liquidity

For the half-year ended September 30, 2025, the company reported:

  • Net cash from operating activities: ₹340.21 lakhs
  • Net cash used in investing activities: ₹(103.48) lakhs
  • Net cash used in financing activities: ₹(387.30) lakhs

The closing cash and cash equivalents stood at ₹10.17 lakhs, compared to ₹160.74 lakhs at the beginning of the period.

While Sudal Industries has shown growth in revenue, the ongoing legal proceedings and decreased profitability present challenges for the company. The outcome of the Supreme Court appeal could significantly impact the company's future operations and financial stability.

Historical Stock Returns for Sudal Industries

1 Day5 Days1 Month6 Months1 Year5 Years
+0.12%+2.89%-5.86%-51.64%+21.81%+1,172.63%

More News on Sudal Industries

1 Year Returns:+21.81%