Premier polyfilm Limited's board of directors has approved significant changes to the company's statutory audit arrangements following a firm merger that necessitated the appointment of new auditors.

Board Meeting Outcomes

The board meeting held on March 16, 2026, from 10:30 to 12:30 hours, addressed the cessation of the existing statutory auditor and approved the appointment of a replacement firm. The changes stem from the merger of M/s M A R S & Associates, the company's existing statutory auditor, into M/s A D V AND CO LLP with effect from February 11, 2026.

Auditor Transition Details

The transition involves the following key changes:

The new auditor firm brings extensive experience in diversified fields including audit, accounting, taxation, consultation, and business advisory services. Their key service areas encompass statutory and tax audits of companies, internal audits, and bank audits.

Postal Ballot Approval Process

The board has approved a postal ballot notice to seek shareholder approval for the auditor appointment. The detailed schedule includes:

Regulatory Compliance

The cessation occurred after the issuance of the Limited Review Report for the quarter ended December 31, 2025, which was submitted on January 12, 2026. In accordance with SEBI Circular CIR/CFD/CMD1/114/2019 dated October 18, 2019, the erstwhile statutory auditors will be required to issue the audit/review report for the quarter and financial year ending March 31, 2026.

The appointment of M/s A D V AND CO LLP is effective from March 16, 2026, and will hold office until the conclusion of the company's 34th Annual General Meeting for FY 2025-2026, subject to shareholder approval through the postal ballot process. The company has confirmed that the cessation is solely due to the firm merger and not due to any dispute, disagreement, or dissatisfaction with the management.

Premier Polyfilm Limited has received another disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011 from promoter group company D L Millar & Co Ltd regarding a fresh acquisition of equity shares. The latest regulatory filing dated March 7, 2026, reveals a strategic purchase that further strengthens the promoter group's position in the company.

Latest Transaction Details

The most recent acquisition involved 4,803 equity shares, representing 0.005% of Premier Polyfilm Limited's total shareholding. This transaction was completed on March 6, 2026, through open market purchases on the National Stock Exchange.

Updated Shareholding Position

Following this latest acquisition, D L Millar & Co Ltd's stake in Premier Polyfilm Limited has increased to 13.54%. The regulatory disclosure shows the progressive growth in the promoter group's shareholding through systematic open market transactions.

Series of Recent Acquisitions

This acquisition follows a pattern of systematic stake building by D L Millar & Co Ltd. Previous transactions include the acquisition of 31,208 equity shares on March 2, 2026, demonstrating the promoter group's continued investment strategy in Premier Polyfilm Limited.

Regulatory Compliance and Documentation

The disclosure was made under Regulation 29(2) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The filing was signed by Subhash Kumar Pandit, Director of D L Millar & Co Ltd (DIN: 00120749), with proper digital signature authentication ensuring full compliance with regulatory requirements.

Company Structure and Market Presence

Premier Polyfilm Limited's shares are listed on both BSE Limited (Scrip Code: 514354) and NSE Limited (Symbol: PREMIERPOL). The company maintains a total equity share capital of ₹10,47,42,475, comprising 10,47,42,475 equity shares of ₹1.00 each. These systematic acquisitions reflect the promoter group's confidence in the company's prospects while maintaining full transparency through proper regulatory disclosures and compliance procedures.