C&AG appoints six audit firms for ITI Ltd for FY27
- S Viswanathan LLP appointed as statutory auditor for FY27
- Five other firms appointed as branch auditors for specific units
- Appointments made by C&AG under Companies Act, 2013
- Disclosure made under SEBI LODR Regulation 30
*this image is generated using AI for illustrative purposes only.
ITI Limited received a letter from the Comptroller and Auditor General of India (C&AG) appointing six Chartered Accountant firms for the financial year 2026-27. The appointments cover statutory and branch audit roles across various units.
Statutory and branch auditor details
S Viswanathan LLP was appointed as the statutory auditor. The firm will handle audits for the Bangalore plant, corporate office, NS plant, EC plant, all eight regional offices, and consolidation of accounts. Five other firms were appointed as branch auditors for specific units in Uttar Pradesh, Kerala, and Jammu & Kashmir.
| Firm name | Role | Unit/Station | Audit scope |
|---|---|---|---|
| S Viswanathan LLP | Statutory auditor | Bengaluru | Bangalore plant, corporate office, NS plant, EC plant, all eight ROs, consolidation of accounts |
| Chandnani Singh & Associates | Branch auditor | Raebareilly | Rae Bareilly unit |
| Vinay Kumar & Co | Branch auditor | Allahabad | Naini unit |
| P N G & Co | Branch auditor | Mankapur | Manakapur unit |
| Mahadevan & Sivarajan | Branch auditor | Palakkad | Palakkad unit |
| U S A & Company | Branch auditor | Srinagar | Srinagar unit |
Regulatory compliance and process
The appointment was made under section 139 of the Companies Act, 2013. The company disclosed this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The C&AG letter is dated September 8, 2026, while the company’s disclosure to stock exchanges is dated October 19, 2026.
Supplementary or test audits under sections 143(6) and (7) of the Companies Act are entrusted to the Principal Director of Audit (Finance & Communication) in Delhi. Remuneration for auditors will be regulated as per section 142 of the Companies Act, 2013, and relevant guidelines from the Department of Company Affairs.
What the numbers show
The distribution of auditors reflects ITI Limited’s multi-location operational structure. While one firm handles central consolidation and key manufacturing hubs in Bengaluru, five separate firms manage branch audits for geographically dispersed units in Raebareilly, Naini, Mankapur, Palakkad, and Srinagar. This structure ensures localized oversight while maintaining centralized financial consolidation under the statutory auditor.
Historical Stock Returns for ITI
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.24% | -0.88% | -6.85% | -18.22% | -29.28% | 0.0% |
How might the specific geographic dispersion of branch auditors across UP, Kerala, and J&K impact the timeline for ITI Limited's FY2026-27 financial reporting?
Will the appointment of six distinct audit firms increase ITI Limited's operational costs significantly compared to previous single-firm arrangements?
How will the consolidation of accounts by S Viswanathan LLP address potential data integrity risks arising from multiple independent branch audits?
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