RHI Magnesita India Appoints B S R & Co. LLP as New Statutory Auditors
RHI Magnesita India's Board approved the appointment of B S R & Co. LLP as its new Statutory Auditor, filling a vacancy created by the resignation of Price Waterhouse Chartered Accountants LLP. The new appointment is for a five-year term, starting from the 16th AGM in 2026.
A change in statutory auditors, especially for a significant term, is a material event for corporate governance and financial reporting oversight, thus having a medium impact.
The change in auditor is a routine corporate action and does not inherently carry positive or negative implications for the company's performance.
RHI Magnesita India Limited announced a change in its statutory auditors following the resignation of M/s. Price Waterhouse Chartered Accountants LLP. The resignation, effective immediately on August 14, 2026, was to align the company's statutory auditor with its ultimate holding company, RHI Magnesita N.V.
The Board of Directors accepted the resignation and expressed appreciation for the services rendered by the outgoing auditors. Subsequently, based on the recommendation of the Audit Committee, the Board approved the appointment of M/s. B S R & Co. LLP, Chartered Accountants, to fill the casual vacancy.
B S R & Co. LLP has been recommended as the Statutory Auditor for RHI Magnesita India Limited for a term of five consecutive years, commencing from the conclusion of the 16th Annual General Meeting (AGM) in calendar year 2026 until the conclusion of the 21st AGM in calendar year 2031. A similar appointment for a five-year term was approved for RHI Magnesita India Refractories Limited, commencing from the conclusion of its 8th AGM in 2026 until the conclusion of its 13th AGM in 2031, subject to member approval where applicable.
The Board meeting to consider these changes commenced at 4:00 p.m. and concluded at 4:30 p.m. on August 14, 2026.
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RHI MAGNESITA INDIA LIMITED filed this with the NSE as a statutory disclosure, categorised under auditor changes. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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