Tulsyan NEC Limited has announced the appointment of M/s. SRBR and Associates LLP as its new statutory auditors, replacing M/s. CNGSN & Associates LLP. The appointment is for a term of five years, commencing from the conclusion of the 79th Annual General Meeting (AGM) on September 19, 2026. Additionally, the company detailed revisions to its Non-Convertible Debentures, including a moratorium on coupon payments and a revised redemption date.
Auditor Appointment and Transition
In a significant corporate update, Tulsyan NEC Limited has appointed M/s. SRBR and Associates LLP as its new statutory auditors. This appointment follows the conclusion of the second and final term for the previous auditors, M/s. CNGSN & Associates LLP. The tenure for the new auditors is set to span five consecutive years, commencing from the conclusion of the upcoming 79th Annual General Meeting (AGM) on September 19, 2026, and extending through the 84th AGM in 2031, subject to shareholder approval.
Financial Updates and Debenture Revisions
The company also provided crucial details regarding its financial results and debenture terms. Tulsyan NEC Limited’s unaudited standalone financial results for the quarter ended June 30, 2026, show a net loss of ₹3,084.96 lakhs. Notably, there have been revisions to the terms of its Non-Convertible Debentures. These include an agreed moratorium for coupon payments from April 1, 2026, to August 31, 2026, with compensation through ramped-up coupon amounts thereafter. The final redemption date has been extended to September 30, 2027, with the entire principal amount, along with coupons and redemption premium, to be paid on this revised date.
Operational Notes
The company also highlighted that its Power Plant was largely under shutdown during the quarter ended June 30, 2026, except for a brief 4-day startup period. Furthermore, Tulsyan NEC Limited entered into a fuel supply agreement with Mahanadi Coalfields Limited on May 12, 2026, to ensure a stable and cost-effective supply of coal for its power generation operations.
Source: BSE
