Cemindia Projects Limited , formerly known as ITD Cementation India Limited, has announced a significant change in its auditing arrangements. The company's Board of Directors has approved the resignation of its current statutory auditor, TR Chadha & Co LLP, and appointed PriceWaterhouse Chartered Accountants LLP as the new auditor, effective November 5, 2025.

Resignation of Current Auditor

TR Chadha & Co LLP, which had been appointed at the 44th Annual General Meeting on September 22, 2022, for a five-year term, has stepped down from its role. The firm cited Cemindia Projects' alignment with Adani Group processes as the primary reason for its resignation. According to the outgoing auditor, Cemindia Projects, as part of the Adani Group, is considering aligning its process for appointing statutory auditors, with a focus on globally affiliated firms for major listed companies within the group.

TR Chadha & Co LLP has completed its audit work for the financial year ended March 31, 2025, and the limited review for the quarter and half-year ended September 30, 2025. The firm has not raised any concerns or issues regarding its resignation.

Appointment of New Auditor

Following the recommendation of the Audit Committee and subject to shareholder approval, the Board has appointed PriceWaterhouse Chartered Accountants LLP (PWCA LLP) as the new statutory auditors. PWCA LLP, with Firm Registration No. 012754N/N500016, will fill the casual vacancy arising from TR Chadha & Co LLP's resignation.

The new auditors will be responsible for:

1. Conducting the audit of the company's accounts for the financial year 2025-26
2. Performing the Limited Review for the third quarter of the said financial year
3. Holding office until the conclusion of the 48th Annual General Meeting to be held in 2026

Key Details of the Transition

About PriceWaterhouse Chartered Accountants LLP

PWCA LLP is a well-established firm of Chartered Accountants registered with the Institute of Chartered Accountants of India. Founded in 1991 and converted to a limited liability partnership in 2014, the firm has its registered office in New Delhi and operates through 16 branch offices across India.

Key points about PWCA LLP:

• Primarily engaged in auditing and assurance services
• Member of Price Waterhouse & Affiliates network
• Possesses more than 125 Assurance Partners as of October 31, 2025
• Holds a valid peer review certificate
• Experienced in auditing various companies listed on Indian stock exchanges

This change in auditors reflects Cemindia Projects' commitment to aligning with the Adani Group's corporate practices and potentially enhancing its financial reporting standards through association with a globally affiliated audit firm.

The company's board meeting, which approved these changes, commenced at 7:49 p.m. and concluded at 8:05 p.m. on November 5, 2025. Shareholders and investors should note that this appointment is subject to their approval in the upcoming general meeting.

Cemindia Projects Limited , formerly known as ITD Cementation India Limited, has announced its acquisition of a significant stake in a newly incorporated water management company. The move marks Cemindia's entry into the water infrastructure sector, potentially diversifying its portfolio in the construction and infrastructure development industry.

Key Details of the Acquisition

Project Scope and Objectives

MBWL has been established with a specific focus on water resource management and infrastructure development. The company's primary objectives are to:

• Design, finance, develop, construct, operate, and maintain the Mor Sagar Artificial Reservoir
• Manage the feeder from Bisalpur to Mor Sagar Artificial Reservoir in Rajasthan
• Implement the project under a Hybrid Annuity Model

This strategic move by Cemindia Projects Limited aligns with the growing emphasis on water management and infrastructure development in India. The project's location in Rajasthan, a state often facing water scarcity issues, underscores its potential significance.

Regulatory Compliance and Disclosure

Cemindia Projects Limited has made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has confirmed that the acquisition does not fall under related party transactions, despite Adani Enterprises Limited being identified as a related party holding the majority stake in MBWL.

Future Outlook

While MBWL is yet to commence business operations, its formation and Cemindia's stake acquisition signal a strategic move in the water infrastructure sector. The project's success could potentially open new avenues for Cemindia Projects Limited in the realm of water resource management and infrastructure development.

As the project progresses, it will be interesting to observe how this joint venture between Cemindia Projects and Adani Enterprises unfolds, particularly in addressing the water management challenges in Rajasthan.