Sagar Cements Limited has informed the Exchange about General Updates
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Sagar Cements Limited has informed the stock exchanges that Deloitte Haskins & Sells has resigned as Statutory Auditors of its un-listed material subsidiary, Sagar Cements (M) Private Limited, effective May 15, 2025. Deloitte had been appointed at the 24th AGM held on August 19, 2024, with a 5-year term scheduled to run until the conclusion of the 29th AGM (covering FY2024 to FY2029). They had already completed the FY2025 audit (report dated May 12, 2025) but had not started the FY2026 audit. The reason cited is operational alignment — the subsidiary wants to have the same statutory auditor as the holding company (Sagar Cements Limited), where Deloitte's term is also ending at the 44th AGM in June 2025. Deloitte confirmed there are no concerns, disputes, or unresolved issues with management.
This is a planned, routine auditor change driven by alignment between the parent and subsidiary, not by any governance red flag or dispute. Shareholders should note that both entities will likely get a new auditor soon, but no immediate financial or governance concern is indicated by the resignation itself.