UltraTech Cement Limited has informed the Exchange regarding Change in Auditors of the company.
ULTRACEMCO · price
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Awaiting price reaction for this filing.
UltraTech Cement's board, at its meeting on 21st July 2025, approved Q1 FY26 standalone and consolidated unaudited financial results. Consolidated revenue from operations rose to ₹21,275.45 crores (vs ₹18,818.56 crores YoY), while net profit jumped to ₹2,220.91 crores (vs ₹1,493.45 crores YoY), a ~49% increase. Operating margin expanded to 21% from 16% a year ago. The board recommended appointing Deloitte Haskins and Sells LLP as Joint Statutory Auditor for a five-year term, subject to shareholder approval at the upcoming AGM. Independent Director Mr. Sunil Duggal's term ends on 13th August 2025, and he will not seek reappointment; Mr. V. Chandrasekaran has been proposed as a new independent director for a five-year term. Results include contributions from recent acquisitions of Wonder WallCare, India Cements, Kesoram's cement business, and the UAE-based RAK White Cement.
Strong double-digit profit growth and margin expansion are positive for shareholders. The planned auditor rotation to Deloitte is a routine governance step, not a mid-term resignation, and should be neutral for the stock. The orderly independent director transition also signals stable board governance.