Sunrise Industrial Traders presents a clean audit record across six years, but the numbers tell a different story: operating cash flow has barely registered over nearly a decade of reported profits, and a tightly held promoter group controls the board, with family members in key executive and KMP roles.
Key findings
- A tightly held promoter group controls the board, with family members in key executive and KMP roles
Minor- Promoter shareholding stood at 74.97% with zero shares pledged. The four-member board included Mr. Suresh B. Raheja as Whole-time Director and CEO, his brother Mr. Dhanesh B. Raheja as Non-Executive Chairman, and Mr. Alkesh S. Raheja, a relative of Mr. Suresh B. Raheja, as CFO throughout the period. At the AGM on 9 August 2025, all 208,600 votes cast by the promoter group on Mr. Suresh Raheja’s re-appointment were declared invalid because the voters were interested related parties. - The statutory auditor rotated on schedule; the secretarial auditor resigned mid-engagement citing prior commitments
Minor- M/s. Arunkumar K. Shah & Co. served as statutory auditor from August 2018 until retiring by rotation at the 51st AGM on 29 August 2023. M/s A N Shah & Associates was appointed as successor and signed the audit reports for FY2023-24, FY2024-25, and FY2025-26. Secretarial Auditor Kishor V Ved resigned effective 19 June 2025 citing prior commitments, and the Board appointed M/s Manthan Negandhi & Co. the following day. - A single BSE fine for a delayed Company Secretary appointment is the only regulatory action across six years
Minor- The company was levied a fine by BSE in FY2025-26 for delay in appointment of Company Secretary under SEBI Listing Regulations. Every other year from FY2020-21 through FY2024-25 reported no penalties, non-compliance, or strictures by any stock exchange, SEBI, or statutory authority.
What to watch
- Director re-appointment. Re-appointment of Mr. Dhanesh B. Raheja, who retires by rotation, at the 54th AGM scheduled per the book closure notice dated 26 May 2026.
Bottom line: This is a disclosed and unqualified audit record with no regulatory baggage beyond a single procedural fine. The weight sits in two places: a nine-year cash conversion gap that leaves almost all reported profit untraced to operating cash [CRITICAL], and a tightly held promoter group that controls the board, with family members in key executive and KMP roles.