Section A – KMP Resignation Details

  • Name of Resigning KMP: M/s. S R B C & CO LLP (SRBC)
  • Designation: Statutory Auditors
  • Reason for Resignation: The Company's management proposed to align its statutory auditors with those affiliated to the same network as appointed by Tube Investments of India Limited (Holding Company), to enable better coordination with the Holding Company's auditors and bring efficiency and synergy to the audit process, given the relative material size of the Company together with its subsidiaries (more than 50%) to the Holding Company's consolidated financial statements.
  • Effective Date of Resignation: Close of business hours on 14th August 2026
  • Date of Resignation Letter: 14th August 2026 (formal resignation); intention communicated via letter dated 24th July 2026
  • Duration in Role: Appointed on 27th July 2023 for a term scheduled to expire at the conclusion of the 91st Annual General Meeting in 2028
  • Board’s Acknowledgment / Statement: Not Specified
  • Replacement Appointed: Not Specified
  • Regulatory Compliance Statement: Disclosure made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated 11th November 2024
  • Delay in Disclosure: Not Specified

Analytical Add-On: The resignation appears strategic and routine, driven by group-level audit alignment considerations rather than performance or regulatory issues. The auditors confirmed no concerns with management, suggesting no impact on financial reporting integrity or operational continuity.

Section B – Additional Observations or Disclosures

  • Transition & Internal Role Reallocations: The auditors submitted their Limited Review Reports dated July 24, 2026 on the standalone and consolidated financial results for the quarter ended June 30, 2026 prior to resignation, ensuring continuity in the review process.
  • Successor Appointments: Not Specified in the disclosure.

Section C – Financial & Governance Disclosures

  • Audited Financial Results: Not disclosed in this filing.
  • Auditor’s Report Summary: The outgoing auditors (SRBC) issued an unmodified limited review report for Q1 FY27 (quarter ended June 30, 2026) with no qualifications or concerns noted. Their resignation letter explicitly states: "The Statutory Auditors have not raised any concerns, issues, or disagreements with the Company or its management."
  • Dividends / Capital Changes / Buybacks: Not disclosed in this filing.
  • Board / Committee Updates or Key Appointments: Not disclosed in this filing.