Board appoints new auditor, seeks borrow limit hike to Rs 50 Cr

Auditor resigned mid-termManagement Changes View source PDF Explain this filing

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

-2.1%Next day

₹144.85

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.6%-2.7% vs market

Castings & Forgings peers, median of 21sector+1.2%-3.3% vs sector

By the next day the stock moved 2.7 pts less than Nifty Microcap 250 and 3.3 pts less than its Castings & Forgings peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Castings & Forgings peers, median of 21Pending

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

AI summary

Shayona Engineering's Board met on Aug 27, 2026. Statutory auditor SGPS & Associates resigned effective Aug 24; O.P. Rathi & Co. appointed to fill the casual vacancy until the 10th AGM, with a 5-year regular appointment recommended for FY26-27 to FY30-31. Mr. Gaurav Parekh re-appointed as director by rotation. Special resolutions proposed to raise borrowing authority from Rs 20 Cr to Rs 50 Cr, plus related mortgage and investment limits. Annual Report for FY ended March 2026 approved. 10th AGM fixed for Sept 25, 2026.

Likely market impact

Auditor change and higher borrow cap may signal growth or working capital needs; new auditor's appointment needs shareholder approval at AGM.