Bafna Pharmaceuticals Limited's Board of Directors has approved the appointment of new Internal and Cost Auditors for the Financial Year 2026-2027. The board meeting held on March 27, 2026, addressed key auditing requirements as part of the company's regulatory compliance framework.

Board Meeting Outcomes

The board meeting, which commenced at 12:30 PM and concluded at 1:00 PM on March 27, 2026, resulted in two significant appointments:

Internal Auditor Appointment

The board appointed M/s. K.S. Rao & Co., Chartered Accountants, Chennai as the Internal Auditor for Financial Year 2026-2027. The firm brings substantial expertise to the role:

M/s. K.S. Rao & Co. is described as a reputed audit firm specializing in Statutory Audit, Internal Audit, Systems Audit, Management Audit, and other related audit and advisory services. The firm has extensive experience helping industries across multiple domains with their processes.

Cost Auditor Appointment

Simultaneously, the board appointed M/s. N. Sivashankaran & Co., Cost Accountants, Chennai as the Cost Auditor for the same financial year period:

The firm is characterized as well-established with extensive experience in cost and management accounting, cost audit, and financial consultancy services.

Regulatory Compliance

The appointments were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided comprehensive disclosures as required under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Both appointments indicate no relationships between the appointed firms and the company's directors, ensuring independence in auditing functions.

Bafna Pharmaceuticals Limited has responded to stock exchange inquiries regarding significant movement in its share price, stating that the company is unaware of any specific events or information that may have caused the fluctuations. The clarification was issued on March 24, 2026, following communications from both BSE Limited and National Stock Exchange of India Limited dated March 23, 2026.

Company's Response to Exchange Inquiries

The pharmaceutical company received formal communications from both major stock exchanges seeking clarification on the notable price movement. The exchanges referenced specific communication numbers in their inquiries to the company.

Market-Driven Price Movement

Bafna Pharmaceuticals emphasized that the share price movement is market-driven and attributable to general market conditions and investor sentiment. The company clearly stated that neither the organization nor its management has any connection with or control over the movement in share prices on stock exchange platforms.

Regulatory Compliance Commitment

The company reaffirmed its commitment to regulatory compliance, stating that it has complied and will continue to comply with all applicable disclosure requirements. This includes adherence to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time.

Corporate Communication

The clarification was signed by Mohanachandran A, who serves as the Company Secretary and Compliance Officer for Bafna Pharmaceuticals Limited. The company requested that the stock exchanges take the clarification on record, maintaining transparency in its communication with regulatory bodies and investors.