Amforge Industries Reappoints Independent Director, Reports Q1 Results
Amforge Industries Limited announced key corporate developments and Q1 financial results. The board reappointed Mr. Ajit Pandurang Walwaikar as Non-Executive Independent Director for a five-year term. Q1 financial results showed a total income of Rs. 49.57 lakhs and a net loss of Rs. 4.17 lakhs, compared to a profit in the same quarter last year. The board also approved the Annual General Meeting notice, and appointed Secretarial and Internal Auditors.
*this image is generated using AI for illustrative purposes only.
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:
| Particulars (in Rs. Lakhs) | Q1 (Unaudited) | Q4 (Audited) | Q1 (Unaudited) |
|---|---|---|---|
| Total Income | 49.57 | 68.05 | 65.06 |
| Total Expenses | 51.53 | 65.88 | 48.76 |
| Profit/(Loss) before tax | (1.96) | 2.16 | 16.30 |
| Net Profit/(Loss) | (4.17) | 20.91 | 12.20 |
| Total Comprehensive Income | 3.60 | 1.12 | 13.85 |
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:
- Approval of the Board's Report and its Annexures for the previous financial year.
- Approval of the Notice for the 53rd Annual General Meeting, scheduled for September 18, to be held through Audio Visual Means.
- Appointment of M/s Hemanshu Kapadia and Associates as Secretarial Auditors.
- 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.
Historical Stock Returns for Amforge Industries
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.69% | -1.35% | -4.37% | -1.35% | -24.63% | +436.81% |
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