Karbon Steel Engineering Reports Revenue Decline, Appoints New Internal Auditor
Karbon Steel Engineering Limited reported a 16.4% decrease in revenue to Rs 13,970.28 lakh and a 19.3% decline in profit to Rs 703.28 lakh for H1 2025. The company announced the resignation of M/s. Desai Bhansali & Associates LLP as Internal Auditors and appointed M/s. Chintan D. Shah & Associates as the new Internal Auditors for FY 2025-26. These changes were approved in a board meeting on November 13, 2025.
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Karbon Steel Engineering Limited, a key player in the steel engineering sector, has reported a decline in revenue and profit for the six months ended September 30, 2025. The company has also announced changes in its internal audit team.
Financial Performance
According to the unaudited standalone financial results approved by the board:
| Metric | H1 2025 (Rs lakh) | H1 2024 (Rs lakh) | Change |
|---|---|---|---|
| Revenue | 13,970.28 | 16,710.01 | -16.4% |
| Profit | 703.28 | 871.58 | -19.3% |
The company experienced a 16.4% decrease in revenue and a 19.3% decline in profit compared to the same period in the previous year.
Changes in Internal Audit
Karbon Steel Engineering has made significant changes to its internal audit team:
Resignation: M/s. Desai Bhansali & Associates LLP, Chartered Accountants, resigned as Internal Auditors of the company on November 12, 2025, citing preoccupation as the reason.
New Appointment: The board has appointed M/s. Chintan D. Shah & Associates, Chartered Accountants (FRN: 146176W), as the new Internal Auditors for the Financial Year 2025–26, effective November 13, 2025.
About the New Internal Auditor
M/s Chintan D. Shah & Associates is a progressive Chartered Accountancy firm founded by CA CS CMA Chintan D. Shah. The firm specializes in providing financial, tax, and advisory solutions to businesses, startups, and MSMEs across India and internationally. They have conducted internal audits for more than fifteen companies and served on the advisory boards of four companies, bringing significant expertise to Karbon Steel Engineering Limited.
Corporate Governance
These changes and financial results were discussed and approved during a board meeting held on November 13, 2025. The meeting, which commenced at 03:57 p.m. and concluded at 04:37 p.m., also included the approval of the unaudited standalone financial results for the half-year ended September 30, 2025.
The company's actions align with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, demonstrating its commitment to regulatory compliance and transparent communication with stakeholders.
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