Kiri Industries re-appoints internal auditor for FY27

Kiri Industries Limited has re-appointed M/s. Vishal Khokhar and Associates as its internal auditor for the financial year 2026-27. The Board of Directors approved the appointment on May 30, 2026, following the recommendations of the Audit Committee.

Appointment Details

The re-appointment is effective from May 30, 2026. M/s. Vishal Khokhar and Associates, a firm of Chartered Accountants, will serve as the internal auditor for the company for the duration of the upcoming financial year.

Auditor Profile

Mr. Vishal Khokhar is a practising Chartered Accountant with over four years of experience in statutory audit, branch audits of banks, and tax audits. The firm provides a range of services, including independent audit and assurance, financial advisory, corporate support, and tax consultancy.

Particular	Details
Name	M/s. Vishal Khokhar and Associates
Reason for change	Re-appointment
Date of appointment	30/05/2026
Term of appointment	F.Y. 2026-27
Firm Profile	Chartered Accountants in practice

The disclosure was made to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.51%	-0.05%	-4.10%	-32.32%	-36.17%	-28.09%

Kiri Industries submitted its monitoring agency report for the quarter ended March 31, 2026, to the stock exchanges on May 12, 2026. The report, filed pursuant to Regulation 32(6) of the SEBI (LODR) Regulations and Regulation 162A(4) of the SEBI (ICDR) Regulations, was issued by CRISIL Ratings Limited. It details the utilization of proceeds raised through the issuance of warrants convertible into equity shares on a preferential basis.

The preferential issue, which opened on September 27, 2024, and closed on October 15, 2024, had a total issue size of ₹492.02 crore. The company issued warrants at a price of ₹369 per share. As per the report, the company received proceeds of ₹398.88 crore from the issue upon allotment and conversion of fully convertible warrants up to the quarter ended March 31, 2026. The current market price per share as on April 15, 2026, stood at ₹424.

Utilization of Proceeds

The monitoring agency confirmed that the company has utilized ₹398.41 crore towards the objects of the issue. No proceeds were utilized during the quarter ended March 31, 2026. The remaining balance of ₹0.47 crore is lying in the preferential issue account and has been deployed in fixed deposits. The report noted that the remaining balance of ₹93.14 crore was expected to be received within 18 months from the date of allotment upon conversion of warrants, which the company confirmed receiving as per a stock exchange announcement dated April 11, 2026.

The following table summarizes the utilization of funds towards the specified objects:

Sr. No	Item Head	Amount Proposed (₹ in crore)	Amount Utilized (₹ in crore)	Unutilized Amount (₹ in crore)
1	Debt Repayment	125.00	122.35	2.65
2	Working Capital Requirements	150.02	147.77	2.25
3	Legal/ Professional Fees	50.00	37.08	12.92
4	Financial Assistance to group/subsidiary companies	117.00	70.00	47.00
5	General Corporate Purpose	50.00	21.21	28.79
Total		492.02	398.41	93.61

Deployment of Unutilized Proceeds

The unutilized proceeds totaling ₹0.47 crore have been temporarily deployed. A sum of ₹0.10 crore is invested in a fixed deposit account held with HDFC maturing on August 6, 2026, offering a return of 7.25%. The balance of ₹0.37 crore is maintained in the preferential issue account. The monitoring agency confirmed that there were no deviations from the objects of the issue and that all utilization was in line with the disclosures in the offer document. The report was signed by Shounak Chakravarty, Director, Ratings (LCG) at CRISIL Ratings Limited, and the company secretary Suresh Gondalia filed the submission on behalf of Kiri Industries.