Key Events

1. Resignation of Statutory Auditors

The Board of Directors at its meeting held on 14 August 2026 noted the resignation of M/s Price Waterhouse Chartered Accountants LLP (Firm Registration No. 012754N/N500016) as Statutory Auditor of both:

  • RHI Magnesita India Limited
  • RHI Magnesita India Refractories Limited (wholly-owned subsidiary)

Resignation was effective immediately from 14 August 2026, pursuant to resignation letters dated 14 August 2026. The stated reason was to align the Statutory Auditor with the Ultimate Holding Company, RHI Magnesita N.V.

The outgoing auditor confirmed:

  • No concerns, issues, or reasons for resignation other than those stated
  • Issued audit report dated 29 May 2026 on standalone and consolidated financial statements for year ended 31 March 2026
  • Issued limited review report dated 11 August 2026 on unaudited standalone and consolidated financial results for quarter ended 30 June 2026
  • For the subsidiary, issued audit report dated 29 May 2026 on financial statements for year ended 31 March 2026

2. Appointment of New Statutory Auditors

Based on Audit Committee recommendation, the Board approved appointment of M/s. B S R & Co. LLP, Chartered Accountants (Firm Registration No. 101248W/W-100022) as Statutory Auditor for both companies to fill the casual vacancy, subject to member approval.

Board recommended appointment for five consecutive years:

  • For RHI Magnesita India Limited: From conclusion of 16th AGM (2026) until conclusion of 21st AGM (2031)
  • For RHI Magnesita India Refractories Limited: From conclusion of 8th AGM (2026) until conclusion of 13th AGM (2031)

Background and Timeline

  • Initial intimation of resignation intention was communicated via email on 4 August 2026 by Company Secretary Sanjay Kumar
  • Formal intention letters dated 9 August 2026 were sent by Price Waterhouse
  • Board meetings were held on 14 August 2026 (4:00 PM to 4:30 PM) to approve the changes
  • Previous appointments: RHI Magnesita India Limited - 26 September 2022 (5 years until 2026-27 AGM); Subsidiary - 30 June 2023 (5 years until 2027-28 AGM)