Maithan Alloys Re-Appoints Internal and Cost Auditors for FY 2026-2027
Maithan Alloys' Board of Directors, at its meeting on 16th May, 2026, re-appointed M/s. Akhileshwar Prasad & Co. (Firm Reg. No. 323011E) as sole internal auditor and M/s. S.K. Sahu & Associates (Firm Reg. No. 100807) as cost auditor for FY 2026-2027. The cost auditor's remuneration was fixed at Rs 60000/-, subject to shareholder approval, with all disclosures made under SEBI LODR Regulations, 2015.
*this image is generated using AI for illustrative purposes only.
The Board of Directors of Maithan Alloys , at its meeting held on 16th May, 2026, approved the re-appointment of auditors for the financial year 2026-2027. The board meeting commenced at 12:30 P.M. and concluded at 6:45 P.M. The appointments were made in compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Auditor Appointments at a Glance
The Board approved two key auditor appointments for FY 2026-2027, as summarised below:
| Parameter: | Internal Auditor | Cost Auditor |
|---|---|---|
| Firm Name: | M/s. Akhileshwar Prasad & Co. | M/s. S.K. Sahu & Associates |
| Firm Type: | Chartered Accountants | Cost Accountants |
| Firm Registration No.: | 323011E | 100807 |
| Date of Appointment: | 16th May, 2026 | 16th May, 2026 |
| Appointment Period: | FY 2026-2027 | FY 2026-2027 |
| Remuneration: | Not specified | Rs 60000/- |
| Relationship with Directors: | None | None |
Internal Auditor: M/s. Akhileshwar Prasad & Co.
M/s. Akhileshwar Prasad & Co., Chartered Accountants, has been appointed as the sole internal auditor of Maithan Alloys for FY 2026-2027 under Section 138 of the Companies Act, 2013. This appointment follows the sale of all assets of the Byrnihat Unit of the Company. The firm brings over 30 years of professional experience and is registered with the Institute of Chartered Accountants of India under Firm Registration No. 323011E.
The firm's service portfolio includes:
- Audit & assurance
- Risk advisory
- Internal audit
- Tax consulting
- Business process re-engineering
- Ind-AS consultancy
Cost Auditor: M/s. S.K. Sahu & Associates
M/s. S.K. Sahu & Associates, Cost Accountants (Firm Registration No.: 100807), has been re-appointed as the Cost Auditor of Maithan Alloys for FY 2026-2027. The firm's remuneration has been fixed at Rs 60000/-, subject to approval of shareholders at the ensuing Annual General Meeting. The firm has over 17 years of experience in cost audit across multiple sectors, including Steel, Jute, Engineering, Chemical, Road & Infrastructure, and Health Care. It also undertakes verification and issuance of various certificates relating to Cost of Production and Local Content for industries and service sectors.
Regulatory Compliance
The disclosures pertaining to these appointments have been made in accordance with Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 30th January, 2026. Neither of the appointed firms has any disclosed relationship with the directors of the Company.
Historical Stock Returns for Maithan Alloys
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +0.09% | -3.64% | -6.79% | -2.56% | -4.44% | +25.28% |
How might the sale of the Byrnihat Unit impact Maithan Alloys' overall operational scale and whether the internal audit scope will be significantly reduced in FY 2026-2027?
Will the shareholder approval of M/s. S.K. Sahu & Associates' remuneration at the upcoming AGM face any opposition, and could this signal broader governance concerns among investors?
How could Maithan Alloys' restructured asset base following the Byrnihat Unit sale influence its cost structure and competitiveness in the ferroalloys market going forward?
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