Based on the recommendation of the Audit Committee, the Board has approved the appointment of M/s J Singh & Associates, Chartered Accountant (FRN: 110266W), as the statutory auditor of the Company.
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The board of Pulsar International Ltd held a meeting on 10 June 2025 and approved three key items. First, it approved increasing the authorised share capital from ₹12 crore (12 crore equity shares) to ₹20 crore (20 crore equity shares), subject to shareholder approval. Second, it approved raising up to ₹36 crores through a rights issue of equity shares to existing eligible shareholders, pending regulatory and shareholder approvals. Third, it appointed M/s J Singh & Associates as the new statutory auditor for five years (FY2025-26 to FY2029-30), replacing M/s H.G. Sarvaiya & Co whose term is expiring at the upcoming AGM. The board will meet again on 17 June 2025 to approve the postal ballot notice for shareholder voting.
The rights issue of up to ₹36 crores may lead to dilution of existing shareholders but provides fresh capital for the company. The auditor change appears routine and is driven by the expiry of the previous auditor's tenure rather than any governance concern.