Amforge Industries , a Mumbai-based industrial manufacturing company, has reported a net loss for the first quarter of the fiscal year 2025-26, alongside making key appointments in its auditing team.

Financial Performance

Amforge Industries announced a net loss of Rs. 8.17 lakhs for Q1 FY2025-26, marking a significant downturn from the Rs. 12.20 lakhs net profit recorded in the same quarter of the previous year. The company's financial results, approved by the Board of Directors on August 11, 2025, revealed several key points:

• Total income decreased by 23.8% to Rs. 49.57 lakhs, down from Rs. 65.06 lakhs year-on-year.
• Total expenses increased by 5.7% to Rs. 51.53 lakhs.
• The company recorded a loss before tax of Rs. 1.96 lakhs.

The financial statement also highlighted the company's balance sheet position:

Key Appointments and Corporate Actions

In the same board meeting, Amforge Industries made several significant appointments:

1. Internal Auditors: M/s. J. Singh & Associates, Chartered Accountants (FRN: 110266W), were appointed as Internal Auditors for the financial year 2025-26. The firm, established in 1978, brings extensive experience in various auditing roles.

2. Secretarial Auditors: M/s Hemanshu Kapadia & Associates, Practicing Company Secretaries (CP No. 2285, Mem No. F3477, PR No.: 1620/2021), were appointed for the financial year 2025-26. Led by Mr. Hemanshu Kapadia, the firm has three decades of experience in company law and secretarial matters.

3. Re-appointment of Independent Director: Mr. Ajit Pandurang Walwaikar (DIN: 00022123) was re-appointed as a Non-Executive Independent Director for a second term of five years, from November 11, 2025, to November 10, 2030, subject to shareholder approval.

Other Corporate Updates

• The company scheduled its 53rd Annual General Meeting for September 18, 2025, to be held through Audio Visual Means.
• The Board approved the Board's Report along with its Annexures for the financial year 2024-25.

These developments come at a challenging time for Amforge Industries, as it navigates through a period of reduced revenue and profitability. The appointment of experienced auditors and the re-appointment of a seasoned independent director may be seen as steps towards strengthening corporate governance and financial oversight during this period.

Investors and stakeholders will be watching closely to see how these changes might impact the company's performance in the coming quarters.

Amforge Industries Limited , a Mumbai-based company, has announced significant corporate developments and financial results for the first quarter. The company's board meeting on August 11 resulted in key decisions and the release of its quarterly financial performance.

Board Reappoints Independent Director

The Board of Directors has approved the reappointment of Mr. Ajit Pandurang Walwaikar as a Non-Executive Independent Director for a second term of five years. This term will commence from November 11 and extend until November 10, subject to shareholder approval at the upcoming Annual General Meeting.

Mr. Walwaikar brings a wealth of experience to the board. He holds qualifications including B.A., LLM, and CS, with extensive expertise in legal, land, revenue, customs, and labor matters. His decades of experience as a Company Secretary and Vice President (Legal) in public limited companies are expected to continue benefiting Amforge Industries.

Q1 Financial Results

Amforge Industries has released its unaudited financial results for the quarter ended June 30. Here are the key highlights:

The company reported a total income of Rs. 49.57 lakhs for Q1, compared to Rs. 65.06 lakhs in the same quarter of the previous year. The net loss for the quarter stood at Rs. 4.17 lakhs, in contrast to a net profit of Rs. 12.20 lakhs in Q1 of the previous year.

Other Board Decisions

In addition to the financial results and director reappointment, the board made several other key decisions:

1. Approval of the Board's Report and its Annexures for the previous financial year.
2. Approval of the Notice for the 53rd Annual General Meeting, scheduled for September 18, to be held through Audio Visual Means.
3. Appointment of M/s Hemanshu Kapadia and Associates as Secretarial Auditors.
4. Appointment of M/s. J. Singh & Associates as Internal Auditors.

These developments reflect Amforge Industries' commitment to corporate governance and strategic planning for the future. The company continues to navigate challenges in the market, as evidenced by the quarterly results, while strengthening its leadership and compliance structures.