Resignation of Statutory Auditor M/S Parin Patwari & co W.E.F 22nd July, 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Gujarat Intrux's board met on July 22, 2025 and approved Q1 FY26 unaudited results showing revenue from operations of ₹1,302.64 lakhs, down from ₹1,550.03 lakhs in the same quarter last year. Profit after tax fell to ₹194.75 lakhs from ₹260.31 lakhs, translating to EPS of ₹5.67. The board also accepted the resignation of statutory auditor M/s Parin Patwari & Co. effective July 22, 2025 — about 2.5 years before their term was scheduled to end in 2027. The auditor cited the personal reason of winding down the proprietorship firm and confirmed no governance or audit-related concerns. Separately, M/s K.P. Rachchh & Co. was appointed as Secretarial Auditor for a 5-year term (FY26–FY30), subject to shareholder approval. Notably, no replacement statutory auditor has been named yet.
Shareholders should note that a statutory auditor resigned mid-term, though the stated reason (closure of the audit firm's proprietorship) appears non-adverse and the auditor submitted a clean limited review report before stepping down. The company now needs to appoint a new statutory auditor soon to remain compliant, and the weaker Q1 numbers (revenue and profit both down year-on-year) may weigh on sentiment in the near term.