Thermax Limited has informed the Exchange regarding Change in Auditors of the company.
THERMAX · price
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On the reaction day the stock moved 7.5 pts less than Nifty Midcap 150 and 7.3 pts less than its Heavy Electrical Equipment peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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At its 44th Annual General Meeting held on July 31, 2025, Thermax Limited's shareholders approved the appointment of Price Waterhouse Chartered Accountants LLP as the new Statutory Auditors for a five-year term, from the conclusion of the 44th AGM until the conclusion of the 49th AGM. The shareholders also approved the appointment of Makarand M. Joshi & Co. as the Secretarial Auditors for five consecutive years, from FY 2025-26 to FY 2029-30. Price Waterhouse is a well-established firm with over 110 assurance partners and a valid peer review certificate. Makarand M. Joshi & Co. brings over 25 years of experience in corporate governance and compliance. Both appointments are routine five-year engagements approved through standard shareholder voting.
This is a routine governance event with no negative implications for shareholders. Appointing a top-tier audit firm like Price Waterhouse may reinforce investor confidence in financial reporting quality. No material impact on stock price is expected.