V R Woodart Limited has witnessed a significant change in its shareholding structure. Promoter Minal Gaurav Patil has substantially increased her stake in the company through a preferential allotment, marking a notable corporate action.

Key Highlights of the Share Acquisition

• Shares Acquired: 1,24,20,000
• Mode of Acquisition: Preferential Allotment
• Additional Securities: 40,80,000 warrants/convertible securities
• Shareholding Change: Increased from 24.11% to 55.44%

This move represents a significant strengthening of promoter control in VR Woodart Limited, with Minal Gaurav Patil's shareholding more than doubling.

Impact on Ownership Structure

The preferential allotment has resulted in a substantial shift in the company's ownership dynamics:

This change indicates a strong vote of confidence from the promoter in the company's future prospects.

Corporate Governance Update

In a separate development related to VR Woodart's corporate governance:

• The company's statutory auditors, M/s Thakur, Vaidyanath Aiyar & Co, Chartered Accountants (Firm Registration No. 000038N), have tendered their resignation effective November 12, 2025.
• The resignation was attributed to pre-occupation with other assignments.
• The company is now in the process of appointing new statutory auditors.

This change in auditors, while a standard corporate process, underscores the importance of maintaining transparent financial reporting practices, especially in light of significant ownership changes.

The preferential allotment to Minal Gaurav Patil, who is also listed as the Additional Director (Whole-time) and Chairperson of VR Woodart Limited, aligns the interests of the promoter more closely with those of the company. This increased promoter stake may influence the company's strategic direction and performance in the coming months.

V R Woodart Limited, a company listed on the Bombay Stock Exchange (BSE: 523888), has announced the resignation of its statutory auditor, M/s Thakur, Vaidyanath Aiyar & Co, Chartered Accountants. The resignation, effective November 12, 2025, comes before the completion of the auditor's original five-year term.

Key Details of the Resignation

• Reason for Resignation: Pre-occupation with other assignments
• Original Appointment: September 19, 2022
• Scheduled Term End: March 31, 2027
• Actual Resignation Date: November 12, 2025

Recent Audit Activities

Despite the resignation, M/s Thakur, Vaidyanath Aiyar & Co completed and issued a Limited Review Report for V R Woodart Limited's unaudited financial results for the quarter and half-year ended September 30, 2025. This report was dated November 11, 2025, just one day before the auditor's resignation.

Corporate Governance Implications

The company has affirmed that the auditor did not raise any concerns with the Audit Committee or Board of Directors prior to their resignation. In compliance with regulatory requirements, V R Woodart Limited has made the necessary disclosures to the BSE under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Management Response

Minal Patil, Additional Director (Whole-time) and Chairperson of V R Woodart Limited, signed the official intimation to the BSE regarding the auditor's resignation. The company is expected to appoint a new statutory auditor to fill the vacancy left by M/s Thakur, Vaidyanath Aiyar & Co.

Investor Considerations

The resignation of an auditor before the completion of their term may raise questions among investors. However, it's important to note that:

1. The auditor cited pre-occupation as the sole reason for resignation.
2. There were no reported disagreements or unresolved issues mentioned in the resignation letter.
3. The most recent limited review was completed before the resignation.

Investors and stakeholders of V R Woodart Limited may want to monitor further announcements regarding the appointment of a new statutory auditor and any potential impact on the company's financial reporting timeline.