PRICOL LIMITED has informed the Exchange about Resignation of Statutory Auditor
PRICOLLTD · price
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Pricol Limited's statutory auditor, M/s. VKS Aiyer & Co, Chartered Accountants, has resigned effective 10th July 2025, with the resignation taking effect from the date a new auditor is appointed. VKS Aiyer & Co were originally appointed in August 2023 for a five-year term ending at the 2028 AGM, meaning they are stepping down mid-term. The reason cited is the company's significant growth in operations and geographical spread, with institutional investors feeling the company now needs a larger audit firm with multi-city capabilities—something VKS Aiyer & Co stated they could not scale to in the short term. The auditor had already completed the FY25 audit (report dated 15th May 2025) and will continue duties until a replacement is appointed. The auditor confirmed there are no other material reasons or governance concerns behind the exit.
This is a routine, growth-driven auditor change rather than a red flag, as VKS Aiyer & Co themselves acknowledged the need to upgrade. Shareholders should expect the company to appoint a larger audit firm shortly; the transition is unlikely to materially affect operations or financials since FY25 audit is already complete.