Appointment of M/S Alvi & Associates for the period of 5 Years, in place of resigning Auditor, subject to approval of Members at the 18th AGM
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Shelter Pharma's Board, meeting on September 2, 2025, approved several key items. The 18th Annual General Meeting is scheduled for September 30, 2025. A final dividend of 3.5% (Rs. 0.35 per share on Rs. 10 face value) has been recommended for FY 2024-25, subject to shareholder approval. The register of members will be closed from September 24 to September 30, 2025, with September 23 set as the cut-off date for e-voting and dividend entitlement. Most notably, the previous statutory auditor M/s Mendajiwala & Co. resigned effective August 20, 2025, and M/s Alvi & Associates has been appointed as the new statutory auditor for a five-year term, subject to shareholder approval at the AGM.
Shareholders will receive a small dividend of Rs. 0.35 per share, pending AGM approval. The auditor change mid-term (before the AGM) is a governance point worth noting; investors may want to ask management about the reasons for the previous auditor's resignation, though the replacement firm is peer-reviewed and ICAI-registered.