Rapicut Carbides appoints S M R P & Associates as statutory auditors for 5 years
- Rapicut Carbides appointed S M R P & Associates as statutory auditors for 5 years
- Appointment replaces K C Mehta & Co LLP after their 5-year term concluded
- Shareholders approved FY26 financials and increased borrowing limits unanimously
- Voting results showed 100% support for auditor appointment and borrowing resolution
*this image is generated using AI for illustrative purposes only.
Rapicut Carbides Limited shareholders approved the appointment of S M R P & Associates, Chartered Accountants, as the company's statutory auditors for a term of 5 years. This decision was taken during the 49th Annual General Meeting (AGM) held on September 26, 2026, replacing K C Mehta & Co LLP whose tenure ended with the conclusion of this meeting.
Auditor transition details
K C Mehta & Co LLP had been appointed at the AGM held on September 28, 2021, for a term of 5 consecutive years. Their mandate ceased upon the conclusion of the 49th AGM. Consequently, members approved S M R P & Associates (Registration No. 146255W) to serve from the conclusion of the 49th AGM until the conclusion of the 50th AGM.
S M R P & Associates is a firm with over 10 years of experience in corporate and non-corporate taxation, international taxation, global transfer pricing, valuation, IPO advisory, and audit and assurance services. The disclosure confirmed no relationship exists between the new auditors and the company's directors.
Other resolutions passed
The meeting also focused on adopting financial statements for the fiscal year ended March 31, 2026, and increasing the company's borrowing limits. Voting was conducted exclusively through the e-voting facility provided by CDSL. A total of 46 members cast votes representing 22,61,860 votes out of the total outstanding shares.
| Resolution | Type | In Favour (%) | Against (%) | Result |
|---|---|---|---|---|
| Adoption of FY26 financial statements | Ordinary | 100.00 | 0.00 | Passed |
| Re-appointment of Shruti A Gami as Director | Ordinary | 99.99 | 0.01 | Passed |
| Appointment of statutory auditors | Ordinary | 100.00 | 0.00 | Passed |
| Increase in borrowing limits | Special | 100.00 | 0.00 | Passed |
Meeting proceedings and attendance
The meeting commenced at 12:30 pm IST via Video Conferencing and Other Audio-Visual Means. Company Secretary Kamlesh Shinde confirmed the presence of a quorum. Chairman and Managing Director Abhishek Gami welcomed members and introduced the directors. The Chairman reported that there were no qualifications, observations, or adverse remarks in the Statutory Auditor's Report or the Secretarial Audit Report for the period under review.
Members considered and adopted ordinary business items including the adoption of financial statements along with reports of the auditors and Board of Directors for FY26, and the re-appointment of Shruti A Gami as Director liable to retire by rotation. Special business regarding an increase in borrowing limits received 100% support from valid votes cast.
Voting and conclusion
As the meeting was conducted via video conferencing, physical proxies were not permitted. Members who had not cast votes prior to the meeting were allowed to vote during the session and for 15 minutes after its conclusion. The meeting concluded at 1:03 pm IST.
Historical Stock Returns for Rapicut Carbides
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.79% | +33.65% | -3.71% | +67.34% | +333.24% | 0.0% |
How will the newly approved increase in borrowing limits influence Rapicut Carbides' capital expenditure plans for the upcoming fiscal year?
What specific strategic initiatives or expansion projects is the company prioritizing to justify the unanimous shareholder support for higher debt capacity?
Will the transition to S M R P & Associates, given their IPO advisory background, signal a potential future listing or capital market activity for the company?
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