Shalby Limited has corrected a typographical error regarding the appointment of its Cost Auditor for the financial year 2026-27. The company confirmed that S A & Associates, based in Ahmedabad, has been appointed to audit the cost accounts of the company. This correction follows the Board meeting held on May 27, 2026, where the appointment was originally approved based on the recommendation of the Audit Committee.

The disclosure was made to the National Stock Exchange of India Ltd and BSE Limited under Regulation 30 read with Schedule III of the Listing Regulations and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The earlier announcement had erroneously named M/s. Borad Sanjay B & Associates as the appointed firm.

Details of Appointment

The corrected filing provides the specific details regarding the new Cost Auditor and the terms of the engagement.

Profile of S A & Associates

S A & Associates is a firm of Practicing Cost Accountants registered with the Institute of Cost Accountants of India under Firm Registration No. 000347. The Ahmedabad-based firm specializes in cost auditing, cost records compliance, cost and management consultancy, and process and operational improvements.

The firm is led by FCMA Sanjay B. Borad, a professional with qualifications including Cost & Management Accountant (CMA), Company Secretary (CS), MBA (Finance), Insolvency Professional (IP), and Independent Director (ID). The firm possesses over two decades of experience handling cost audit and advisory assignments across more than 15 industries, including Metal, FMCG, Chemicals, Engineering, Automotive Components, Textiles, Electronics, Construction, Healthcare, Plastics, and Infrastructure.

Shalby Limited has granted 4,000 stock options to an eligible employee under its Shalby Limited Employees Stock Options Scheme – 2021. The Nomination and Remuneration Committee approved the grant on May 27, 2026. The options are convertible into an equal number of equity shares with a face value of ₹10 each. The exercise price for these options has been determined at ₹100 per option.

The options granted are sourced from a pool of lapsed options. The scheme is administered by the Nomination and Remuneration Committee and is in compliance with the SEBI (SBEB & SE) Regulations, 2021. The grant is based on eligibility criteria including individual performance, target achievement, and functional performance.

The granted options will vest after the completion of two years from the date of grant. Once vested, the options must be exercised wholly within a period of one year from the date of vesting. The entitlement to acquire shares is subject to the payment of the exercise price and applicable taxes, along with continued employment at the time of vesting.

The total number of shares arising from the exercise of these options will be 4,000 equity shares. The company stated that its share capital will not increase as a result of this exercise, as the shares are channelized from the secondary market. The exercise price is determined based on the average purchase price of the shares acquired by the trust or the market price, with the committee holding the power to provide a discount or charge a premium.