MARUTI SUZUKI INDIA LIMITED has informed the Exchange about Resignation of Statutory Auditor
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On the reaction day the stock moved in line with Nifty 100 and 0.9 pts less than its Passenger Cars & Utility Vehicles peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Maruti Suzuki India informed the stock exchanges on May 12, 2025 that Deloitte Haskins & Sells LLP has resigned as the company's Statutory Auditor with immediate effect. Deloitte had been appointed at the 40th AGM in August 2021 for a 5-year term ending at the 45th AGM, and had already completed the audit for FY ending March 31, 2025 (audit report dated April 25, 2025). The reason cited is alignment with the parent company Suzuki Motor Corporation, which recently changed its own statutory auditor. Deloitte confirmed there are no concerns, issues, or disagreements with management. Price Waterhouse Chartered Accountants LLP has been appointed to fill the casual vacancy and will hold office until the conclusion of the 44th AGM, subject to shareholder approval via postal ballot.
This is a routine auditor change driven by parent company alignment rather than any governance or accounting concerns, so it should have minimal negative impact on the stock. Shareholders will get to vote on the new auditor (Price Waterhouse) through a postal ballot.