Meghmani Organics Limited has informed the Exchange regarding Change in Auditors of the company.
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Awaiting price reaction for this filing.
Meghmani Organics' Board met on May 10, 2025 and approved the audited financial results for Q4 and full year ended March 31, 2025, which received an unmodified (clean) opinion from the existing auditor S R B C & Co LLP. The Board also appointed M/s. Mukesh M. Shah & Co., an Ahmedabad-based Chartered Accountants firm established in 1978 with over 45 years of experience, as the new Statutory Auditor for a 5-year term starting from the upcoming 6th Annual General Meeting until the 11th AGM, subject to shareholder approval. The change is happening because the current auditor's 5-year tenure has expired, making this a routine rotation rather than a sudden switch. Additionally, the company approved an investment of up to Rs. 6 crore in a wind-solar hybrid power project of up to 4.5 MW capacity with Prozeal Green Energy Limited.
The auditor change is a routine, regulatory-mandated rotation after a full 5-year term and is unlikely to impact the stock. The clean audit opinion and the small green-energy investment are neutral-to-mildly positive signals for shareholders.