CWD Limited appointed M/s Makwana Sweta & Associates as its internal auditor for the financial year ending March 31, 2027. The Board of Directors approved the move on August 25, 2026, following a recommendation from the Audit Committee.

The firm will commence its tenure immediately for FY27. M/s Makwana Sweta & Associates is described in the filing as a leading chartered accountant firm in Mumbai, specialising in services for startups and small and medium enterprises.

Appointment Details

The company disclosed the appointment to comply with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was made pursuant to SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Tejas Ramniklal Kothari, Joint Managing Director and CFO, signed the intimation to the BSE Listing Compliance Department.

The board of CWD Ltd approved the allotment of equity shares following the conversion of warrants and the reappointment of an independent director during its meeting on August 25, 2026.

The company allotted 11,013 equity shares of face value ₹10 each upon receipt of the balance amount of ₹680.25 per warrant. This figure represents 75% of the issue price of ₹907 per warrant.

Capital Structure Changes

In addition to the warrant conversion, the company allotted 44,052 bonus shares in the ratio of 4:1 for every existing share. This bonus issue was approved via postal ballot on December 24, 2025.

The paid-up share capital increased from ₹22,75,97,400 to ₹22,81,48,050. The new shares rank pari passu with existing equity shares.

Governance and Appointments

Mr. Pravin Bansilal Kharwa was reappointed as a Non-executive Independent Director for a second term of five years, effective March 19, 2026, subject to shareholder approval. He holds a B.Com degree from the University of Bombay (1994) and is a member of the Institute of Chartered Accountants of India since November 1998. He also cleared the Information System Audit Examination in September 2005.

Mr. Kharwa brings extensive expertise in statutory audit, internal audit, tax audit, Ind AS and IFRS transition, and financial compliance. He has over two decades of experience across manufacturing, FMCG, infrastructure, insurance, asset management, and information technology sectors. He confirmed he is not related to any other director on the board and holds no other directorships.

The board also appointed M/s Makwana Sweta & Associates as the Internal Auditor for FY27. Additionally, the board granted omnibus approval for related party transactions up to ₹150 crore during FY27.