Appointment of Statutory Auditor subject to shareholders'' approval.
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The Board of Directors has approved appointment of B S R & Co. LLP as the new Statutory Auditors for a 5-year term from the conclusion of the 40th AGM in 2027 until the 45th AGM in 2032. The current auditor, S. R. Batliboi & Co. LLP, will continue until the 40th AGM as they complete their second consecutive 5-year term (10 years total). The appointment is subject to shareholder approval. B S R & Co. LLP is a large firm with over 4,000 staff and 170 partners, serving as statutory auditor to several listed companies in India.
This is a routine auditor rotation driven by statutory term limits under the Companies Act, not indicative of any accounting or governance concerns. The transition to another reputable firm maintains audit continuity and independence standards.