RHI Magnesita India Appoints New Statutory Auditors as Price Waterhouse Resigns
RHI Magnesita India Limited and its material subsidiary, RHIMIRL, announced significant changes in their statutory audit firms. The Board of Directors of both entities approved the resignation of M/s Price Waterhouse Chartered Accountants LLP and appointed M/s B S R & Co. LLP as the new Statutory Auditors.The decision to change auditors was taken at a meeting held on August 14, 2026.
Resignation of Previous Auditor
M/s Price Waterhouse Chartered Accountants LLP, which served as the Statutory Auditor for both RHI Magnesita India and RHIMIRL, submitted its resignation with immediate effect. The Board noted that the change was necessary to align the Statutory Auditor with the Ultimate Holding Company, RHI Magnesita N.V.The Board members appreciated M/s Price Waterhouse Chartered Accountants LLP for the professional services, guidance, and support provided during their tenure as the Statutory Auditor of both companies. The Boards confirmed that there were no concerns or issues other than those detailed in the resignation letters for the change in auditor.
Appointment of B S R & Co. LLP
Following a recommendation from the Audit Committee, the Board of Directors of both RHI Magnesita India and RHIMIRL approved the appointment of M/s B S R & Co. LLP, Chartered Accountants (Firm Registration No. 101248W/ W100022), as the Statutory Auditor for both entities.The appointment details are as follows:
| Entity | New Auditor | Appointment Date | Term Length | Start of Term | End of Term |
|---|---|---|---|---|---|
| RHI Magnesita India Limited | M/s B S R & Co. LLP | August 14, 2026 (Subject to members' approval) | Five consecutive years | Conclusion of 16th AGM in Calendar year 2026 | Conclusion of 21st AGM in Calendar year 2031 |
| RHIMIRL | M/s B S R & Co. LLP | August 14, 2026 (Subject to members' approval) | Five consecutive years | Conclusion of 8th AGM in Calendar year 2026 | Conclusion of 13th AGM in Calendar year 2031 |
M/s B S R & Co. LLP was appointed to fill the casual vacancy arising from the resignation of Price Waterhouse Chartered Accountants LLP. The appointment is subject to the approval of the members at future general meetings.
RHIM Stock Price Movement
RHI MAGNESITA INDIA LIMITED shares today slipped as the company settled at ₹379.85, closing down 2.73% in market trading. The stock accounted for a traded volume of 581,225 shares during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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