VIP Industries Limited has informed the Exchange regarding Change in Auditors of the company.
VIPIND · price
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VIP Industries Limited has announced a change in statutory auditors. Price Waterhouse Chartered Accountants LLP, which was appointed at the 54th AGM for a second 5-year term, is stepping down after completing two consecutive terms as mandated by the Companies Act, 2013. The Board has recommended appointing Deloitte Haskins & Sells Chartered Accountants LLP as the new statutory auditor for 5 years from the 59th AGM (2026) till the 64th AGM (2031), subject to shareholder approval. The company also reported significantly higher losses for FY2026 — standalone loss of Rs. 342.88 crore compared to Rs. 81.40 crore in FY2025, primarily due to lower revenue (Rs. 1,849 crore vs Rs. 2,170 crore) and large inventory provisions of Rs. 93.74 crore. The auditors issued an unmodified opinion on the financial results.
The auditor change is a routine regulatory requirement with no red flags. However, the steep increase in losses and revenue decline may concern investors. The promoter change (Multiples Private Equity now in control) and significant inventory write-downs signal ongoing business restructuring.