Premier Polyfilm Limited, through its promoter group company D L Millar & Co Ltd, has witnessed another significant equity acquisition. The latest transaction, disclosed under SEBI takeover regulations on March 17, 2026, represents a substantial increase in the promoter group's shareholding position.

Latest Transaction Details

The most recent acquisition involved the purchase of 2,55,199 equity shares through open market operations on NSE, completed on March 16, 2026. This transaction represents a 0.24% increase in the company's total shareholding.

Updated Shareholding Position

Following the latest transaction, D L Millar & Co Ltd's shareholding position in Premier Polyfilm Limited has increased significantly to 14.06% from the previous holding of 13.82%.

Company Capital Structure

Premier Polyfilm Limited's equity share capital structure remains unchanged following these transactions.

Regulatory Compliance

The disclosure was made in accordance with Regulation 29(2) of Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. D L Millar & Co Ltd continues to maintain its status as a promoter group company of Premier Polyfilm Limited.

The transaction notification was submitted to BSE Limited, National Stock Exchange of India Limited, along with the target company's compliance officer and audit committee chairperson. The disclosure was signed by Subhash Kumar Pandit (DIN: 00120749), Director of D L Millar & Co Ltd.

This acquisition represents continued investment by the promoter group in Premier Polyfilm Limited, with the company maintaining transparency through proper regulatory disclosures as required under SEBI guidelines.

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.