Auditor G.R. Gupta resigns midway citing low fees; Dhadda appointed

Auditor Resigned MidtermManagement Changes View source PDF Explain this filing

Price

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

-5.5%Reaction day

₹75.20

prior close

₹72.02

announcement price

In-mkt

timing

Nifty Microcap 250market · in no size index; the smallest one is used-0.2%-5.3% vs market

Non - Ferrous Metals peers, median of 19sector · industry level+0.0%-5.5% vs sector

On the reaction day the stock moved 5.3 pts less than Nifty Microcap 250 and 5.5 pts less than its Non - Ferrous Metals peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

Minutes after the announcementfrom the announcement price · no benchmark

Stock

+1.5

10m

+1.5

15m

+1.5

30m

+1.5

Sessions after the filingfrom the prior close

StockMarketvs marketSectorvs sector

Reaction day

-5.5-0.2-5.3+0.0-5.5

Next day

-9.6+0.2-9.8+0.3-9.9

-16.3+0.4-16.6-0.8-15.5

-24.2+0.4-24.6-2.2-22.0

-18.0+0.6-18.5-0.4-17.6

-19.0+0.9-20.0-0.3-18.8

-15.1+0.9-15.9-0.1-14.9

15d

-10.9+0.9-11.8-2.4-8.5

-8.2+2.3-10.6-0.4-7.9

-6.9-1.1-5.8-9.6+2.7

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UpDownMarket · Nifty Microcap 250Sector · Non - Ferrous Metals peers, median of 19Pending

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

AI summary

Statutory auditor M/s G.R. Gupta and Company resigned on 11 August 2026, stating that the audit fee previously paid was not commercially viable. They were appointed in September 2024 for a five-year term running through the 2029 AGM. They completed the limited review for Q1 FY27 (quarter ended June 2026) just before stepping down. No governance concerns or disputes were flagged. The Board has appointed M/s Dhadda and Associates (FRN 013807S), a peer-reviewed firm set up in 2012, to fill the casual vacancy, subject to shareholder approval at the next general meeting.

Likely market impact

Mid-term auditor change driven by fee disagreement, not governance issues. New auditor in place. Watch for shareholder approval at the next AGM.