Chennai Ferrous Industries Reports 33.9% Profit Surge in Q1, Appoints New Auditors
Chennai Ferrous Industries Limited, a coal trading company, reported a 33.9% year-on-year increase in Q1 net profit to Rs 232.77 crore, despite a 6.2% decline in revenue to Rs 6,920.90 crore. Earnings per share rose by 34% to Rs 6.46. The company also announced the appointment of new statutory, secretarial, and internal auditors, subject to shareholder approval.
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Chennai Ferrous Industries Limited , a prominent player in the coal trading sector, has reported a significant increase in its net profit for the first quarter. The company's financial performance and strategic decisions were disclosed in its recent board meeting.
Financial Highlights
Chennai Ferrous Industries witnessed a robust 33.9% year-on-year growth in its net profit for the quarter. The company's net profit stood at Rs 232.77 crore, compared to Rs 173.88 crore in the same period last year. This impressive growth comes despite a slight dip in revenue.
| Particulars | Q1 (Current) | Q1 (Previous) | YoY Change |
|---|---|---|---|
| Net Profit (Rs in crore) | 232.77 | 173.88 | +33.9% |
| Revenue from Operations (Rs in crore) | 6,920.90 | 7,381.92 | -6.2% |
| Earnings Per Share (Rs) | 6.46 | 4.82 | +34.0% |
The company's revenue from operations experienced a marginal decline of 6.2%, standing at Rs 6,920.90 crore for the quarter, compared to Rs 7,381.92 crore in the previous year's corresponding period. Despite this, Chennai Ferrous Industries managed to significantly improve its bottom line, reflecting enhanced operational efficiency.
Earnings per share (EPS) also saw a substantial increase, rising to Rs 6.46 from Rs 4.82 year-on-year, marking a 34% improvement.
Appointment of New Auditors
In a strategic move to strengthen its corporate governance, the Board of Directors approved the appointment of new auditors across various domains:
Statutory Auditors
M/s. Aayush Bohra A & Co., Chartered Accountants, have been appointed for a five-year term from the 15th to the 20th Annual General Meeting. The firm brings over a decade of experience in professional audit, assurance, and advisory services.
Secretarial Auditors
M/s. M K Madhavan & Associates, Practicing Company Secretaries, have been appointed for five years from April 2025 to March 2030. The firm specializes in IPO readiness, SEBI compliance, Companies Act advisory, and investor governance for listed and large unlisted entities.
Internal Auditors
M/s. N N Kumar & Associates, Chartered Accountants, have been appointed for the financial year 2025-26. The firm has extensive experience in providing audit and assurance services to multinational companies, corporates, and high-net-worth individuals.
All these appointments are subject to shareholder approval at the upcoming Annual General Meeting.
Business Segment
Chennai Ferrous Industries continues to operate in coal trading as its single business segment, as per the Indian Accounting Standard 108.
The company's strong performance, coupled with its strategic appointments, signals its commitment to maintaining robust financial health and enhancing corporate governance practices. As Chennai Ferrous Industries moves forward, investors and stakeholders will be keenly watching how these changes translate into long-term growth and value creation.
Historical Stock Returns for Chennai Ferrous
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +7.79% | +4.55% | -0.32% | +6.10% | -8.85% | +2,552.54% |
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