Riddhi Corporate Services Limited , a company listed on the Bombay Stock Exchange (Scrip Code: 540590), has announced the resignation of its statutory auditor, Jain Kedia and Sharma (FRN 103920W), effective November 14, 2025. The auditor's departure comes amidst concerns over timely information provision and disagreements on audit fees.

Reasons for Resignation

The auditing firm cited several reasons for their immediate resignation:

1. Non-availability of information and documents in a timely manner
2. Very late publishing of results
3. Non-acceptance of proposed revision in audit fees, which the auditors deemed necessary due to:
   • Increased scope of work
   • Enhanced regulatory requirements

Company's Response

Riddhi Corporate Services Limited acknowledged the auditor's resignation in a regulatory filing dated November 15, 2025. The company stated that there were no reasons for the resignation other than those mentioned in the auditor's resignation letter.

Financial Performance Context

While the auditor's resignation is a significant event, it's worth noting the company's recent financial performance. For the quarter ended September 30, 2025, Riddhi Corporate Services reported:

Appointment of New Director

In a separate development, the company has appointed Mr. Kalpeshbhai Chandrakishorebhai Shukla (DIN: 07773003) as an Additional Director (Non-executive, Independent) with immediate effect. Mr. Shukla, 45, brings over 17 years of entrepreneurial experience, particularly in plumbing works contracting and logistics.

Implications and Next Steps

The resignation of a statutory auditor may raise concerns among investors and regulatory bodies. Riddhi Corporate Services will need to appoint a new auditor promptly to ensure compliance with regulatory requirements and maintain transparency in financial reporting.

Investors and stakeholders will likely be watching closely for any further developments, including the appointment of a new auditor and any potential impact on the company's financial reporting timelines.

About Riddhi Corporate Services Limited

Riddhi Corporate Services Limited is listed on the Bombay Stock Exchange with the scrip code 540590. The company's registered office is located at 10 Mill Officers Colony, Behind Old RBI, Ashram Road, Ahmedabad, Gujarat 380009.

Riddhi Corporate Services Limited has announced its financial results for the fiscal year 2024-2025, showcasing robust performance and rewarding shareholders with a dividend proposal.

Financial Highlights

The Board of Directors of Riddhi Corporate Services Limited has approved the audited financial results for the quarter and year ended March 31, 2025. The company reported impressive figures for the fiscal year:

Dividend Announcement

In a move that signals confidence in the company's financial health, the Board has recommended a final dividend of Rs. 0.49 per equity share with a face value of Rs. 10 each for the financial year 2024-2025. This dividend proposal is subject to shareholder approval at the upcoming Annual General Meeting.

Audit Opinion

Adding credibility to the financial results, the company's statutory auditors have issued an unmodified audit opinion. This clean audit report suggests that the financial statements present a true and fair view of the company's affairs, in accordance with the applicable accounting standards and regulations.

Looking Ahead

The strong financial performance, coupled with the dividend proposal, indicates Riddhi Corporate Services Limited's commitment to creating value for its shareholders. As the company moves forward, investors and stakeholders will likely keep a close eye on its growth trajectory and future strategic initiatives.

Shareholders are advised to await further details regarding the date and proceedings of the Annual General Meeting, where the proposed dividend will be put to vote.