Change in Statutory Auditors – RHI Magnesita India Limited

Outgoing Auditor

Name of the Resigning Firm: M/s Price Waterhouse Chartered Accountants LLP (Firm Registration No. 012754N/ N500016)

Reason for Resignation: To align the Statutory Auditor with the Ultimate Holding Company i.e. RHI Magnesita N.V. The management of the Company is desirous of appointing the same firm of chartered accountants as its auditor, who are affiliated to the auditor of the ultimate holding company.

Effective Date of Resignation: Immediate effect

Date of Resignation Letter: 14 August 2026

Duration in Role:

  • For RHI Magnesita India Limited: Appointed on 26 September 2022 for a term of five years (financial years 2022-23 to 2026-27).
  • For RHI Magnesita India Refractories Limited: Appointed on 30 June 2023 for a term of five years (financial years 2023-24 to 2027-28).

Board’s Acknowledgment / Statement: The Board noted the confirmation provided by the outgoing Statutory Auditors that there are no concerns, issues, or reasons for resignation other than those stated. The Board placed on record its appreciation for the professional services, guidance, and support rendered by M/s Price Waterhouse Chartered Accountants LLP during its tenure.

Replacement Appointed

Name of the New Audit Firm: M/s. B S R & Co. LLP, Chartered Accountants

Firm Registration Number (FRN): 101248W/ W-100022

Term of Appointment and Validity:

  • For RHI Magnesita India Limited: Recommended for a term of five (5) consecutive years, commencing from the conclusion of the 16th Annual General Meeting (2026) until the conclusion of the 21st Annual General Meeting (2031).
  • For RHI Magnesita India Refractories Limited: Recommended for a term of five (5) consecutive years, commencing from the conclusion of the 8th Annual General Meeting (2026) until the conclusion of the 13th Annual General Meeting (2031).

Interim Appointment or Subject to Shareholder Approval: The appointment is subject to the approval of the members at the respective Annual General Meetings.

Qualifications or Professional Standing: B S R & Co. was constituted on 27 March 1990 as a partnership firm and converted into a limited liability partnership on 14 October 2013. The firm has over 4000 staff and 170+ Partners and has offices across 14 locations. Its registered office is at 14th Floor, Central B Wing and North C Wing, Nesco IT Park 4, Nesco Centre, Western Express Highway, Goregaon (East), Mumbai- 400063. It is a member entity of B S R & Affiliates, a network registered with the Institute of Chartered Accountants of India.

Regulatory Compliance Statement (SEBI LODR, Circulars)

The disclosure is made pursuant to Regulation 30 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 30 January 2026 (referenced as SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024 in annexures). All required annexures (Appendix A and B) were enclosed with the filing.

Delay in Disclosure: Not Specified

Board / Committee Meeting Details

Date and Name of the Meeting: Board of Directors meeting held on 14 August 2026.

Resolutions or Approvals: The Board considered and approved the resignation of M/s Price Waterhouse Chartered Accountants LLP and the appointment of M/s. B S R & Co. LLP as the Statutory Auditor for both companies, based on the recommendation of the Audit Committee.

The meeting started at 4:00 p.m. and concluded at 4:30 p.m.

Annexures / Firm Profiles

Summary of Incoming Audit Firm’s Experience: Provided in the detailed profile under 'Qualifications or Professional Standing' above.

Any Declarations or Eligibility Confirmations: The outgoing auditor confirmed in Annexure B declarations that there is no other material reason for resignation and that all information provided is correct and complete.

Other Corporate Information

Additional Context from Annexures

The outgoing auditor, Price Waterhouse, issued their audit report for the year ended March 31, 2026, on May 29, 2026, and the limited review report for the quarter ended June 30, 2026, on August 11, 2026, prior to their resignation. An intention to resign was communicated via email from the Company Secretary on August 04, 2026, and formally via letter on August 09, 2026, to be placed before the Board.