Pricol Limited has informed the Exchange regarding 'Audit Committee views on Resignation of Statutory Auditor'.
PRICOLLTD · price
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Pricol Limited's statutory auditor, VKS Aiyer & Co (appointed in August 2023 for a 5-year term till 2028), has resigned effective from the date a new auditor is appointed. The resignation was prompted by institutional investors' view that Pricol's growing operations and geographical spread now require a larger audit firm with multi-city presence, which VKS Aiyer said it could not scale up in a short time. The auditor completed the FY25 audit (report dated 15th May 2025) and will issue the Q1FY26 limited review before stepping down. The Audit Committee and Board noted no concerns or issues raised by the auditor and recorded appreciation for their services.
This is a routine, amicable auditor change driven by the company's growth rather than any governance red flags. Shareholders should expect the company to appoint a bigger audit firm soon, which may bring more rigorous scrutiny but is not expected to materially affect the stock in the short term.