Resignation of Statutory Auditor M/s. Devpura Navlakha & Co., with effect from November 14, 2025.
Awaiting price reaction for this filing.
Shamrock Industrial Company informed BSE that its statutory auditor, M/s. Devpura Navlakha & Co. (Firm Registration No. 130349W), resigned effective November 13-14, 2025, citing pre-occupation with personal and professional commitments. The auditor had been appointed in June 2022 for a five-year term covering the 31st to 36th AGM, making this a mid-term exit. The auditor confirmed completing the limited review for Q2 FY26 (ended September 30, 2025), and stated there are no disputes or concerns regarding information suppression by management. The same board meeting approved the unaudited Q2/H1 FY26 results, which show zero revenue from operations, a net loss of Rs. 43.27 lakhs for the half-year, and a negative EPS of Rs. 0.80. Notes also reveal a change in control during the quarter via an open offer, with old promoters exiting and new promoter-nominated directors taking board seats.
Mid-term auditor exits, even when attributed to routine reasons, are a minor governance red flag and could briefly unsettle sentiment, especially given the company's ongoing losses and zero revenue. Investors should watch for timely appointment of a new auditor and any unusual qualifications in the next limited review.