Disclosure with respect to appointment of Statutory Auditors at the AGM
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Kandagiri Spinning Mills informed BSE about several appointments approved by shareholders at its 49th Annual General Meeting held on September 29, 2025. Mr. Adinarayana Sripathy Kumar was appointed as Chairman and Non-Executive Director. Mr. S. Sivakumar was appointed as Managing Director for three years (until August 7, 2028), and Mr. Manoj Kumar Maurya was appointed as Whole-time Director and Chief Financial Officer for the same three-year term. Two independent directors were also appointed: CA R. Raveendran (first term) and CS Nattery Srinivasan Poornima (reappointed for a second one-year term). Additionally, SSAL & Associates was appointed as Statutory Auditors first to fill a casual vacancy caused by the resignation of the previous auditors Krishnen & Associates on August 13, 2025, and then for a full five-year term covering FY 2025-26 through FY 2029-30.
The midterm auditor change (Krishnen & Associates resigned and SSAL & Associates was appointed) is a notable governance event that shareholders should monitor. The new Managing Director and CFO appointments, along with a fresh board, may signal a strategic reset for this small-cap spinning mill, though the BSE scrip 521242 is likely to see limited immediate price reaction.