Biocon Biologics Limited has accepted the resignation of its statutory auditors, B S R & Co. LLP, with immediate effect on August 6, 2026. The resignation is attributed to the mandatory rotation of auditors for the holding company, Biocon Limited, under the Companies Act, 2013. This change necessitates the appointment of new statutory auditors for Biocon Biologics to align with the parent company’s auditor.
Auditor Resignation Announced
Biocon Biologics Limited has officially acknowledged the resignation of its statutory auditors, B S R & Co. LLP. The resignation is effective immediately as of August 6, 2026. The firm cited the need to align with the statutory auditors of its holding company, Biocon Limited, due to mandatory rotation requirements under the Companies Act, 2013.
Reason for Resignation
In a detailed disclosure, B S R & Co. LLP explained that the decision stems from the management’s intention to ensure the statutory auditors of Biocon Biologics are consistent with those of the parent entity, Biocon Limited. This alignment is a consequence of the mandatory auditor rotation for the holding company. The auditors confirmed they have completed their statutory audit for the year ended March 31, 2026, and issued their report on May 7, 2026. They also completed a limited review for the quarter ended June 30, 2026, with the report dated August 5, 2026.
Disclosure of Information
As per SEBI Listing Regulations and a relevant Master Circular dated January 30, 2026, Biocon Biologics has provided details regarding the auditor’s resignation. The firm, B S R & Co. LLP, has confirmed that their resignation is not due to any concerns, efforts made prior to resignation, or any inability to obtain sufficient appropriate audit evidence or lack of information that would significantly impact financial statements. They also confirmed that no alternative procedures were needed or that there were no other material reasons beyond the stated rotation requirement.
Appointment and Term
B S R & Co. LLP was initially appointed as the statutory auditors of Biocon Biologics Limited on July 26, 2022, with their term scheduled to conclude at the conclusion of the annual general meeting for the financial year ending March 31, 2027. The company will now proceed with the appointment of new statutory auditors.
Source: BSE
