Outcome of Board Meeting held today, besides financials and dividend for the period/year ended 31/03/2025 - which has been submitted separately.
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Awaiting price reaction for this filing.
The Board of Voith Paper Fabrics India approved FY25 financials (filed separately) and announced several governance changes. Price Waterhouse Chartered Accountants LLP, a Big-4 firm, has been appointed as the new statutory auditor for a 5-year term from FY26 to FY30, replacing B S R & Co. LLP, who completed their second tenure at the end of FY25. M/s P.C. Jain & Co. has been appointed as secretarial auditor for the same 5-year period. Dr. Deepti Gupta has been re-appointed as Non-Executive Independent Director for another 5 years effective 30 July 2025, and Mr. Ravinder Nath has been re-appointed as Non-Executive Non-Independent Director. All appointments require shareholder approval at the upcoming AGM.
These are largely routine governance updates with no immediate bearing on earnings. The shift to a Big-4 statutory auditor (Price Waterhouse) may be viewed positively as it often signals stronger audit standards, but the stock is unlikely to move materially on this news alone.