Statutory Auditors Suresh R Shah resign mid-term citing low fees
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Advance Multitech announced that statutory auditors M/s Suresh R Shah and Associates resigned on 11 August 2026, effective immediately. The firm cited that the audit remuneration was not commercially viable relative to the scope of work. Their term was scheduled to expire on 31 March 2027, so this is a mid-term exit. The auditor had submitted the latest limited review report on 7 August 2026. Separately, Q1 FY27 standalone net profit was Rs 427.89 lakhs versus a loss of Rs 42.05 lakhs a year ago.
Mid-term auditor exit may raise governance questions. Company must appoint a new auditor within SEBI timelines. Q1 results show a strong turnaround.