IFB Industries Appoints Mani & Co as Cost Auditor

Key Decisions

1. Appointment of Cost Auditor

The Board of Directors considered and approved the appointment of M/s. Mani & Co., Cost Accountants (Firm Registration No. 000004) as the Cost Auditor of the Company for the Financial Year 2026-27.

Financial Details: Remuneration fixed at ₹9 lakhs (excluding taxes and out-of-pocket expenses)

Approval Status: Subject to approval of shareholders

Cost Auditor Profile:

• Firm registered with Institute of Cost Accountant of India (ICAI) having Registration No. 000004
• Over 50 years of experience in the profession
• Specializes in Cost Audit, Costing System implementation, Cost Ascertainment Projects, Special Cost Studies, and Cost Accounting Manual
• Key partner: Mr. Dinesh Sha, fellow member of ICAI with over 40 years of practice
• Team composition: 6 partners and more than 15 associates

2. Committee Reconstituitions

The Board reconstituted the following committees with new members:

Risk Management Committee:

• Mr. Chacko Joseph – Chairman
• Mr. Desh Raj Dogra – Member
• Mr. Tarun Daga – Member
• Mr. Sandeep Abraham Joseph – Member
• Mr. Arup Das – Member
• Mr. Soumitra Goswami – Member

Project Review Committee:

• Mr. Ashok Bhandari – Chairman
• Mr. Chacko Joseph – Member
• Mr. Sudip Banerjee – Member
• Mr. Subir Chakraborty – Member
• Mr. C.S. Govindaraj – Member
• Mr. Arup Das – Member

Financial Impact

The direct financial impact includes the cost auditor remuneration of ₹9 lakhs plus applicable taxes and out-of-pocket expenses. The appointment is contingent upon shareholder approval.