SAGAR CEMENTS LIMITED has informed the Exchange about Resignation of Statutory Auditor
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Deloitte Haskins & Sells has resigned as the Statutory Auditor of Sagar Cements' unlisted material subsidiary, Sagar Cements (M) Private Limited, effective May 15, 2025. Deloitte had been appointed only in August 2024 for a five-year term ending at the 29th AGM (FY 2029), so this is a well before schedule exit. The reason is straightforward: Deloitte's term as auditor of the listed parent Sagar Cements ends at the 44th AGM in June 2025, and the subsidiary wants to align its auditor with whatever firm takes over at the parent level, to save cost and effort. Deloitte has already completed and signed off on the subsidiary's FY25 audit (report dated May 12, 2025) and had not started the FY26 audit. No concerns, disputes, or governance issues were flagged.
This is a routine, planned change at the subsidiary level driven by alignment with the parent company's upcoming auditor change — not a red flag. Shareholders should expect a new auditor appointment for the subsidiary in due course, but there is no indication of any accounting or governance concerns at Sagar Cements (M) Private Limited.