Auditor resigns; board clears Q1 results, new independent directors

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

SADBHIN · price

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

-1.1%Reaction day

₹2.66

prior close

₹2.66

announcement price

After-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used+0.4%-1.5% vs market

Road Assets - Toll Annuity Hybrid-Annuity peers, median of 6sector+0.4%-1.5% vs sector

On the reaction day the stock moved 1.5 pts less than Nifty Microcap 250 and 1.5 pts less than its Road Assets - Toll Annuity Hybrid-Annuity 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

Stock

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10m

-0.4

15m

-1.1

30m

-0.8

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-1.1+0.4-1.5+0.4-1.5

Next day

+3.4+0.5+2.9-0.4+3.8

+7.9+0.6+7.3-3.2+11.1

+6.0+0.7+5.3-3.4+9.4

+6.4+1.1+5.3-4.6+11.0

+3.4+0.5+2.9-6.0+9.3

+3.0+1.3+1.7-6.8+9.8

15d

-1.9+0.5-2.4-9.1+7.3

-5.6-0.8-4.8-8.6+2.9

-2.6-0.9-1.7-15.0+12.3

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UpDownMarket · Nifty Microcap 250Sector · Road Assets - Toll Annuity Hybrid-Annuity peers, median of 6Pending

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

AI summary

Sadbhav Infrastructure Project's board approved Q1 FY27 unaudited results (quarter ended 30 June 2026) with a modified audit opinion. Statutory auditor SGDG and Associates resigned from 12 August 2026, citing the company's limited operational scale versus the firm's size. Two new independent directors, Jaldeep Patel and Ankit Shah, were appointed. Board also approved pledging shares and disposing assets of material subsidiaries SHAPL, MBCPNL, SNHL, SRHL and SVHL, subject to shareholder approval. 20th AGM set for 30 September 2026.

Likely market impact

Auditor exit mid-term with a modified opinion may raise governance concerns; new directors and subsidiary asset pledges await shareholder nod at the AGM.