CG Power Appoints Price Waterhouse as New Auditor

CG Power and Industrial Solutions Ltd has appointed M/s. Price Waterhouse Chartered Accountants LLP as its new statutory auditor. This appointment, effective August 19, 2026, fills a casual vacancy.

Reader Takeaway: Continuity in financial oversight secured; shareholder approval pending.

What just happened

The Board of Directors of CG Power and Industrial Solutions Ltd approved the appointment of M/s. Price Waterhouse Chartered Accountants LLP as the company's statutory auditor. This decision follows a recommendation from the Audit Committee.

Why this matters

This appointment ensures continued financial oversight and compliance. Changing auditors is a routine process, and the selection of a reputable firm like Price Waterhouse provides assurance to stakeholders regarding the integrity of the company's financial reporting.

The backstory

The need for a new auditor arose due to the resignation of the previous statutory auditors, M/s. S R B C & CO LLP, which was announced on August 14, 2026. The current appointment is to fill this resulting casual vacancy.

What changes now

Price Waterhouse Chartered Accountants LLP will now be responsible for auditing CG Power's financial statements. Their term will extend until the conclusion of the company's 90th Annual General Meeting (AGM) in 2027. Members will vote on this appointment at the AGM.

Risks to watch

No immediate risks are apparent from this change in auditors. However, investors typically watch for any significant changes in auditor opinions or findings in subsequent reports.

Peer comparison

While not a direct comparison, major listed companies often appoint large, well-established audit firms like the Big Four (which includes Price Waterhouse) to ensure robust financial scrutiny.

Context metrics (time-bound)

The appointment is effective from August 19, 2026, and is for the period until the 90th AGM in 2027.

What to track next

Investors should track the outcome of the shareholder vote at the 90th AGM and any future audit reports issued by the new auditors.