Axita Cotton Limited has informed the Exchange about resignation of statutory auditor of the Company.

Auditor resigned mid-termManagement Changes View source PDF Explain this filing

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On the reaction day the stock moved 0.1 pts less than Nifty Microcap 250 and 0.1 pts less than its Other Textile Products peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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AI summary

Axita Cotton Limited informed the stock exchanges that M/s Mistry & Shah LLP, Chartered Accountants (FRN: 137148W/W100683), has resigned as the company's Statutory Auditor with effect from August 11, 2025. The resignation was tendered at the Audit Committee meeting and accepted by the Board on the same day. The auditor cited an internal strategic realignment and a firm-level decision to restrict assurance services including statutory audits as the reason, and explicitly stated it is not related to any governance issue or the company's performance. The auditor had already completed the FY25 audit and the Q1 FY26 limited review before resigning. The company will file Form ADT-3 with the Registrar of Companies as required under Section 140(2) of the Companies Act, 2013.

Likely market impact

The auditor resigned mid-term (before the 16th AGM) but stated there are no concerns about the company. Shareholders should watch for the appointment of a new statutory auditor; until then, audit-related timelines could face short-term delays, though the FY25 audit and Q1 FY26 review have already been completed.