Key Decisions and Dates
The Board of Directors at its meeting held on August 27, 2026, based on the recommendation of the Audit Committee, appointed M/s. O. P. Rathi & Co. as Statutory Auditors effective from August 27, 2026. This appointment fills the casual vacancy caused by the resignation of the previous auditors, M/s. SGPS & Associates, Chartered Accountants.
Approval Requirements
The appointment to fill the casual vacancy is subject to approval by members (shareholders) in accordance with Section 139(8) of the Companies Act, 2013. Upon such approval, M/s. O. P. Rathi & Co. will hold office up to the conclusion of the company's 10th Annual General Meeting.
Recommended Long-term Appointment
The Board has also recommended, subject to member approval at the 10th Annual General Meeting, the appointment of M/s. O. P. Rathi & Co. as Statutory Auditors for a term of five consecutive years. This term would run from the conclusion of the 10th Annual General Meeting until the conclusion of the 15th Annual General Meeting, covering the financial years 2026-27 to 2030-31.
Remuneration Details
The proposed remuneration for the statutory audit engagement is ₹4,00,000 plus applicable taxes and reimbursement of out-of-pocket expenses. This remuneration is subject to the terms approved by the Board and the approvals applicable to the respective tenure.
Auditor Profile
M/s. O. P. Rathi & Co. is a Vadodara-based firm of Chartered Accountants with Firm Registration No. 108718W. Established in 1978, the firm provides audit and assurance, taxation, and advisory services, with experience in statutory audit and listed-entity financial reporting engagements.