Chemfab Alkalis appoints MSKC as statutory auditor; declares ₹1.25 dividend
- Chemfab Alkalis appointed MSKC & Associates LLP as statutory auditor for five years
- Shareholders declared a final dividend of ₹1.25 per equity share (12.50% payout)
- All AGM resolutions passed with near-unanimous support (>99% approval)
- Mr. Suresh Krishnamurthi Rao reappointed as director by rotation
*this image is generated using AI for illustrative purposes only.
Chemfab Alkalies Limited ( Chemfab Alkalis ) shareholders approved the appointment of M/s. MSKC & Associates LLP as statutory auditors for a five-year term at its 17th Annual General Meeting on September 9, 2026.
The firm, holding FRN 001595S/S000168, will serve from the conclusion of the 17th AGM until the conclusion of the 22nd AGM. This appointment follows the expiry of the tenure of the previous statutory auditor, Deloitte Haskins & Sells LLP.
Auditor Details
MSKC & Associates LLP is registered with the Institute of Chartered Accountants of India (ICAI) and the US Public Company Accountancy Oversight Board (PCAOB). The firm provides services in audit assurance, tax, and advisory domains.
| Detail | Information |
|---|---|
| Firm Name | MSKC & Associates LLP |
| FRN | 001595S/S000168 |
| Term | Five consecutive years |
| Tenure Period | Conclusion of 17th AGM to conclusion of 22nd AGM |
| Predecessor | Deloitte Haskins & Sells LLP |
Voting Results
The company submitted the scrutinizer report for the meeting held via video conferencing. All resolutions were passed with requisite majority. Remote e-voting accounted for over 99% of total votes cast across all resolutions.
Resolution 4: Appointment of Statutory Auditors
Shareholders voted overwhelmingly in favor of appointing MSKC & Associates LLP. Out of 9,731,516 valid votes cast, 100% supported the resolution. Only 14 votes were cast against it.
Resolution 3: Final Dividend
The declaration of a final dividend of ₹1.25 per equity share received near-unanimous support. Of 9,731,530 total votes cast, 9,731,519 (100%) voted in favor. Only 11 votes were cast against.
Other Resolutions
- Adoption of Financial Statements: Passed with 100% support (9,731,516 votes in favor vs 14 against).
- Reappointment of Director: Mr. Suresh Krishnamurthi Rao was reappointed by rotation with 100% support.
- Cost Auditor Remuneration: Ratification of remuneration to M/s. Madhavan, Mohan & Associates was approved with 100% support.
- Director Commission: The special resolution to pay commission to non-executive directors within the ceiling of 11% of net profits was passed with 99.98% support (9,729,109 votes in favor vs 2,421 against).
Meeting Proceedings
Ms. Drushti Desai, Independent Director, chaired the proceedings attended by 35 shareholders via video conferencing. Mr. V. M. Srinivasan, Chief Executive Officer, addressed the shareholders during the meeting. The scrutinizer, S.A. Inbavadivu, confirmed that the voting process was conducted in a fair and transparent manner.
Historical Stock Returns for Chemfab Alkalis
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.25% | -6.61% | -11.20% | +12.10% | -49.80% | +81.26% |
How might the transition from Deloitte to MSKC & Associates LLP impact Chemfab Alkalies' audit fees and financial reporting timelines in the coming fiscal years?
What strategic rationale did management provide for selecting a mid-tier firm like MSKC over a Big Four auditor, and how does this align with the company's long-term governance goals?
Given the near-unanimous approval of the dividend, does the ₹1.25 per share payout signal confidence in future cash flows or a shift in capital allocation priorities?
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