Davangere Sugar Company has re-appointed M/s. D G M S & Co. as its statutory auditor for a second consecutive five-year term, a move that ensures continuity in financial oversight through FY31. The Board of Directors approved the re-appointment on August 05, 2026, following a recommendation from the Audit Committee, subject to final ratification by shareholders at the company’s 55th Annual General Meeting (AGM).

The decision was formalized during a board meeting held on August 05, 2026, which commenced at 6:15 p.m. and concluded at 6:30 p.m. The re-appointment is disclosed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Additionally, the filing complies with the SEBI Master Circular bearing reference number HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.

Auditor Profile and Tenure

M/s. D G M S & Co., holding Firm Registration No. 0112187W, will serve as the statutory auditor from the conclusion of the 55th AGM until the conclusion of the 60th AGM. This marks the firm’s second consecutive term of five years. The firm is an Indian Chartered Accountants practice headquartered in Jamnagar, Gujarat, with branch operations in Mumbai and other regions. It provides statutory audits, internal audits, and financial certification services to various listed and private entities.

Regulatory Compliance and Next Steps

The re-appointment adheres to the mandatory rotation and tenure limits prescribed under Indian corporate law and SEBI guidelines. The Board’s approval is contingent upon shareholder consent, which will be sought at the ensuing AGM. No changes in the auditor’s relationship with the directors were disclosed, and the matter of director relationships was marked as not applicable in the regulatory filing.

S.S. Ganesh, Managing Director of Davangere Sugar Company Limited (DIN 00451383), signed the intimation letter addressed to the listing departments of BSE Limited and National Stock Exchange of India Ltd. The company’s registered office is located in Davangere, Karnataka, while its corporate office operates from Bangalore.

Davangere Sugar Company has agreed to convert loans into equity shares or convertible warrants, marking a significant development in the company's capital restructuring efforts. The company had earlier scheduled a Board of Directors meeting on July 28, 2026, to consider a proposal for raising funds through convertible warrants and/or other eligible securities via private placement, preferential issue, or other permissible modes.

Board Decision and Capital Restructuring

The fund-raising proposal was being considered pursuant to Regulation 29(1)(d) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The issuance is to be conducted in accordance with the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, and the Companies Act, 2013, along with applicable rules.

Key Details

Approvals and Compliance

The fund-raising and conversion exercise remains subject to necessary statutory, regulatory, and other approvals. The transaction also requires the approval of the shareholders of Davangere Sugar Company. The Board retains the option to execute the issuance in one or more tranches, depending on market conditions and capital needs.

S. S. Ganesh, Managing Director of Davangere Sugar Company, signed the intimation letter dispatched to the stock exchanges on July 23, 2026. The company is listed on both the Bombay Stock Exchange and the National Stock Exchange of India Limited.