Intimation of Appointment of M/s. V D P & Co. Chartered Accountants of the Company as Statutory Auditors of the Company
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VSF Projects Ltd's board, at its August 14, 2025 meeting, approved multiple items including unaudited Q1 FY26 results and several governance changes. Statutory auditor NSVR & Associates LLP resigned mid-term citing 'time, efforts and cost considerations' — they were originally appointed in September 2023 for a 5-year term (until 2027-28 AGM). To fill the casual vacancy, the board appointed V D P & Co. Chartered Accountants until the next AGM. The company also appointed P. Lenin Babu as the new Company Secretary and Compliance Officer, and recommended P S Rao & Associates as Secretarial Auditor for a 5-year term. Q1 FY26 results showed nil revenue from operations, total income of Rs 19.07 lakhs, and a net loss of Rs 3.83 lakhs versus a Rs 2.58 lakh profit a year earlier.
The mid-term exit of the statutory auditor, though explained as a cost/time issue, may raise short-term governance concerns among investors. The weak Q1 results with no operating revenue and a small loss signal continued business sluggishness, while the multiple management changes suggest a transitional phase for the small-cap company.