Agro Phos India Limited has informed the Exchange regarding Change in Auditors of the company.
AGROPHOS · price
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Agro Phos India has informed the exchange about a change in its Cost Auditors for the financial year 2024-25. The previous cost auditor, M/s. M.P. Turakhia & Associates (FRN: 000417), resigned on 19th August 2025, citing 'unavoidable reasons and inability to continue' as Cost Auditor. To fill the resulting casual vacancy, the Board, on the recommendation of the Audit Committee, appointed M/s. Sudeep Saxena & Associates (FRN: 100980) on 22nd August 2025. The new auditor, led by Mr. Sudeep Satyendra Saxena (FCMA, MBA Finance, M.Com), brings over 15 years of experience in cost audits across industries including fertilizers, pharmaceuticals, and food. The appointment is in compliance with Section 148 of the Companies Act, 2013, and the remuneration is subject to shareholder ratification at the upcoming Annual General Meeting.
This is a routine change in the cost auditor (not the statutory auditor), and such mid-year swaps of cost auditors are common and typically do not materially affect operations or stock price. Shareholders should note that the outgoing auditor's stated reason was vague ('unavoidable reasons'), but since this is a cost audit role rather than a financial statement audit, governance concerns are limited. Watch for any related party or further auditor changes for additional signals.