Shradha AI Technologies Limited has notified stock exchanges regarding a name change of its statutory auditor firm, maintaining continuity in audit services while updating corporate records. The company communicated this development to BSE Limited and Metropolitan Stock Exchange of India Limited under regulatory compliance requirements.

Auditor Firm Name Change Details

The statutory auditor firm M/s Paresh Jairam Tank and Co., Chartered Accountants has changed its name to M/s Yawalkar and Associates, Chartered Accountants. This change became effective from April 2, 2026, with the company receiving written communication from the statutory auditor on April 9, 2026.

Regulatory Compliance and Continuity

The notification was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company emphasized that this change pertains only to the name of the audit firm and does not result in any change in the engagement of statutory auditors.

M/s Yawalkar and Associates, Chartered Accountants will continue to act and discharge its responsibilities as the statutory auditors of Shradha AI Technologies Limited for the remaining period of the approved tenure. The firm registration number remains unchanged at 139681W.

Company Information

Shradha AI Technologies Limited, formerly known as Shradha Industries Limited, operates with CIN L51227MH1990PLC054825. The company's registered office is located at Block No. S/8, 2nd Floor, 345, Shradha House, Kingsway, Kasturchand Park, Nagpur – 440001, Maharashtra, India. The notification was signed by Harsha Kalangiwale, Company Secretary & Compliance Officer with ICSI Membership No. A54849.

Shradha AI Technologies Limited has completed the divestment of its 45.00% equity shareholding in subsidiary Moodscope AI Private Limited, effective March 28, 2026. The transaction marks a strategic corporate restructuring move as the company streamlines its subsidiary portfolio.

Transaction Details

The divestment involved the sale of 45,000 equity shares of Moodscope AI Private Limited for a total consideration of ₹4.50 lakhs. Following this transaction, Moodscope AI Private Limited has ceased to be a subsidiary of Shradha AI Technologies Limited under Section 2(87) of the Companies Act, 2013.

Buyer Information and Related Party Aspects

The equity shares were acquired by the existing promoters of Moodscope AI Private Limited:

• Mr. Saket Bhattad
• Mr. Kshitij Anant Narayan

While the buyers are promoters of Moodscope AI Private Limited, they are not part of the promoter or promoter group of Shradha AI Technologies Limited. The transaction qualifies as a related party transaction and was conducted on an arm's length basis with due approval from the Audit Committee at its meeting held on February 7, 2026.

Subsidiary Financial Performance

Moodscope AI Private Limited was incorporated on December 2, 2024, and had not commenced operations as of March 31, 2025. The subsidiary's financial contribution during the Financial Year ended March 31, 2025, was minimal:

Regulatory Compliance

The divestment was conducted in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The transaction does not form part of any Scheme of Arrangement, making the provisions of Regulation 37A of the Listing Regulations inapplicable. Additionally, the transaction does not qualify as a slump sale under applicable regulations.

Company Background

Shradha AI Technologies Limited, formerly known as Shradha Industries Limited, is incorporated under CIN L51227MH1990PLC054825. The company is listed on BSE Limited with scrip code 543976 and trades on Metropolitan Stock Exchange of India Limited under the symbol SHRAAITECH. The company's registered office is located in Nagpur, Maharashtra.