Change in Statutory Auditors – Axita Cotton Limited

Outgoing Auditor

Name of the Resigning Firm: M/s. P K N & Co., Chartered Accountants

Firm Registration Number (FRN): 137148W

Reason for Resignation: The resignation is based on internal administrative and operational restructuring within the audit firm. The firm cited changes in the availability and deployment of professional resources, including partner-level resources and personnel expected to provide continuity to the engagement. The firm assessed that under its revised internal resource structure, it would not be able to commit the appropriate level of dedicated partner involvement, professional manpower, continuity, and administrative support required for a listed entity's statutory audit.

Effective Date of Resignation: August 12, 2026

Date of Resignation Letter: August 12, 2026

Duration in Role: The auditor was appointed on August 25, 2025, and the term was scheduled to expire at the conclusion of the 17th Annual General Meeting.

Board’s Acknowledgment / Statement: The Audit Committee and the Board of Directors, at their respective meetings held on August 12, 2026, noted that there are no reasons other than those stated in the resignation letter for the auditor's resignation.

Regulatory Compliance Statement: The disclosure is made pursuant to Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Delay in Disclosure: Not Specified

Incoming Auditor

Name of the New Audit Firm: Not Specified

Firm Registration Number (FRN): Not Specified

Term of Appointment and Validity: Not Specified

Interim Appointment or Subject to Shareholder Approval: Not Specified

Qualifications or Professional Standing: Not Specified

Financial Implications: Not Specified

Board / Committee Meeting Details

Date and Name of the Meeting: Audit Committee and Board of Directors meetings were held on August 12, 2026.

Resolutions or Approvals: The meetings noted the resignation and confirmed no other reasons for it beyond the auditor's stated reasons.

Annexures / Firm Profiles

Summary of Incoming Audit Firm’s Experience: Not Specified

Any Declarations or Eligibility Confirmations: Not Specified

Other Corporate Information

The information is also being hosted on the Company's website www.axitacotton.com as per listing regulations.

The outgoing auditor confirmed the completion and issuance of the following reports prior to resignation:

  • Audit Report dated April 20, 2026, on the financial statements for the year ended March 31, 2026.
  • Limited Review Report dated August 12, 2026, on the unaudited standalone financial results for the quarter ended June 30, 2026.

The auditor declared no disagreements with management on accounting policies, financial reporting, audit scope, or access to information.