Valencia India Limited has appointed M/s. Panchal S K & Associates, Chartered Accountants, as its statutory auditor for the financial year 2025-2026. The appointment was announced on February 23, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Appointment Details

The new statutory auditor appointment fills a casual vacancy created by the resignation of M/s. Doshi Doshi & Co., Chartered Accountants, who previously served as the company's statutory auditor. The appointment details are outlined in the following table:

About the New Auditor

M/s. Panchal S K & Associates is an established chartered accountancy firm with significant experience in the professional services sector. The firm's profile includes:

• Establishment Year: 2012
• Experience: Over a decade in comprehensive professional services
• Service Portfolio: Audit & assurance, direct and indirect taxation, corporate and regulatory compliances, NBFC advisory, IPO advisory, and consultancy services

Regulatory Compliance

The appointment was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows the guidelines outlined in SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has informed BSE Limited (SME) about this statutory change as required under the listing regulations.

Term of Office

M/s. Panchal S K & Associates will serve as statutory auditor until the conclusion of the company's ensuing Annual General Meeting, which will be held for the financial year ended March 31, 2026. This appointment ensures continuity in the company's audit functions following the departure of the previous auditor.

The announcement was signed by Keyur Jitendra Patel, Managing Director (DIN: 00252431), and communicated to all stakeholders through the appropriate regulatory channels.

Valencia India Limited has completed its regulatory review process following the resignation of M/s. Doshi Doshi & Co as statutory auditor. The company's Audit Committee met on January 02, 2026, to assess the resignation and provide their views as required under SEBI regulations.

Audit Committee Assessment

The Audit Committee conducted a thorough review of the auditor resignation during their meeting held from 2:00 PM to 3:00 PM on January 02, 2026. The committee confirmed that M/s. Doshi Doshi & Co had not raised any concerns relating to management conduct, information availability, or financial reporting quality.

Previous Auditor Resignation Details

M/s. Doshi Doshi & Co, Chartered Accountants, with registration number 153683W, had resigned as statutory auditors effective December 15, 2025. The auditing firm cited their inability to continue due to preoccupation with other assignments and inability to devote adequate time to Valencia India's audit affairs.

New Auditor Appointment

The board has approved the appointment of M/s. Panchal S K & Associates, Chartered Accountants (FRN: 145989W) to fill the casual vacancy. The appointment is made pursuant to Section 139(8) of the Companies Act, 2013, and follows the recommendation of the Audit Committee.

Committee Appreciation and Compliance

The Audit Committee placed on record its appreciation for the services rendered by M/s. Doshi Doshi & Co during their tenure and confirmed compliance with all applicable regulatory requirements. The committee obtained necessary clarifications from both the auditor and management before concluding their assessment.

Regulatory Disclosure

The disclosure has been made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, in compliance with SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. The company has fulfilled all regulatory requirements regarding the auditor transition process.