Statutory auditor resigns over fee dispute; new auditor appointed

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

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Price reactionminutes from the announcement price · days from the prior close

-1.1%Reaction day

₹0.95

prior close

₹0.96

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-1.3%+0.2% vs market

Other Textile Products peers, median of 184sector-0.8%-0.3% vs sector

On the reaction day the stock moved 0.2 pts more than Nifty Microcap 250 and 0.3 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.

Minutes after the announcementfrom the announcement price · no benchmark

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Sessions after the filingfrom the prior close

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Reaction day

-1.1-1.3+0.2-0.8-0.3

Next day

+0.0-0.8+0.8-0.2+0.2

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15d

+10.5+4.1+6.5-0.7+11.2

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+1.1+3.1-2.1-1.2+2.3

-6.3-3.6-2.7-6.5+0.2

UpDownMarket · Nifty Microcap 250Sector · Other Textile Products peers, median of 184Pending

Minute windows have no benchmark: there is no intraday index history to compare against.

AI summary

Padam Cotton Yarns' statutory auditor SVJK and Associates resigned on July 27, 2026, stating that existing audit fees were not commensurate with the time and effort required given the company's growing scale. SVJK had completed the FY26 audit on May 30, 2026. Piyush Kothari and Associates has been appointed to fill the casual vacancy for FY27, subject to shareholder approval.

Likely market impact

Auditor change is fee-driven, not governance-driven. FY26 audit was completed. Smooth transition expected, but shareholder approval still pending.