Surbhi Industries has appointed M/s GHAEI CHOKSI & COMPANY as its statutory auditor for a five-year term. The firm will serve from financial year 2026-27 through financial year 2030-31, pending shareholder approval.

The Board of Directors approved the appointment on September 5, 2026. The move complies with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Auditor Details

M/s GHAEI CHOKSI & COMPANY is a peer-reviewed firm of practicing chartered accountants. It holds Firm Registration Number 0153978W with the Institute of Chartered Accountants of India (ICAI). The firm also possesses Peer Review Certificate Number 6013/2024.

The company disclosed that the auditor offers professional services including tax, audit, and finance. There are no relationships between directors and the appointed firm.

Next Steps

Shareholders must approve the appointment at the ensuing Annual General Meeting (AGM). Surbhi Industries issued the intimation to the Bombay Stock Exchange Limited on September 5, 2026.

Surbhi Industries reported a net profit of ₹36.09 lakh for the quarter ended June 30, 2026, marking a 25% year-on-year decline from the ₹48.04 lakh recorded in Q1FY26. The Surat-based manufacturer saw revenue from operations contract by 18% to ₹667.99 lakh, down from ₹818.34 lakh in the corresponding period of FY26, as broader cost pressures and reduced non-operating income offset savings in material consumption.

The Board of Directors approved the unaudited financial results on July 28, 2026, in compliance with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, Ghael Choksi & Company. The company prepared the financial statements in accordance with IND AS notified under the Companies (Indian Accounting Standards) Rules, 2015.

Financial Performance Breakdown

Revenue from operations stood at ₹667.99 lakh, compared to ₹775.89 lakh in the preceding quarter (Q4FY26) and ₹818.34 lakh in the same quarter last year. Other income decreased significantly to ₹29.73 lakh from ₹87.30 lakh in Q4FY26 and ₹40.97 lakh in Q1FY26, contributing to a total income of ₹697.72 lakh.

Total expenses amounted to ₹661.63 lakh, a decrease from ₹822.14 lakh in the previous quarter but higher than the ₹811.27 lakh incurred in Q1FY26. Cost of materials consumed declined to ₹407.96 lakh from ₹427.91 lakh in the prior year period. However, this saving was partially negated by a rise in depreciation and amortisation expenses, which jumped to ₹102.06 lakh from ₹91.20 lakh in Q1FY26. Finance costs also remained elevated at ₹29.29 lakh compared to ₹53.62 lakh in the same quarter last year, though they were lower than the ₹61.95 lakh seen in Q4FY26.

What the Numbers Show

The divergence between revenue contraction and expense management highlights operational headwinds. While Surbhi Industries successfully reduced its cost of materials consumed, the increase in depreciation expenses suggests significant capital investments are impacting short-term profitability. Furthermore, the sharp decline in other income—from ₹40.97 lakh in Q1FY26 to ₹29.73 lakh in Q1FY27—indicates a reduction in non-operating returns, which previously provided a buffer against operating margin pressures. The absence of deferred tax benefits, unlike the ₹46.70 lakh benefit seen in Q4FY26, further compressed the bottom line, resulting in a net profit that is significantly lower than both the preceding quarter and the same period last year.