Sharp & Tannan to be Joint Statutory Auditor for 3 years from FY 2027-28; Q2 FY27 results approved
Board approves M/s Sharp & Tannan as one of the Joint Statutory Auditors for 3 years from FY 2027-28, subject to shareholder approval, in place of M/s Walker Chandiok & Co LLP, whose tenure ends at the AGM to be held in 2027.
By ScoutQuest · · 2 min read
- Profit for the period (Q2 FY27)
- Rs. 501.57 crore
- Gross Stage III
- 1.79%
- Joint Statutory Auditor term
- 3 years commencing from FY 2027-28, subject to shareholder approval
What the board approved
- Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026.
- Appointment of M/s Sharp & Tannan, Chartered Accountants (FRN: 003792S), as one of the Joint Statutory Auditors of the company, for a term of 3 years commencing from financial year 2027-28, subject to the approval of shareholders.
The auditor change
Sharp & Tannan comes in place of M/s Walker Chandiok & Co LLP, which completes its tenure at the conclusion of the Annual General Meeting to be held in the year 2027. The incoming firm is part of the Sharp & Tannan network, with a pan-India presence in 10 cities, over 600+ staff members and 23 partners. It provides assurance, governance, risk and compliance, and consulting and tax services, and has been involved in statutory audit of listed entities for over nine decades.
Q2 FY27 numbers (standalone, unaudited, Rs. in crore)
- Revenue from operations: 1,903.74, against 1,508.35 in the same quarter a year earlier.
- Profit before tax: 670.95, against 169.16.
- Profit for the period: 501.57, against 125.81.
- Impairment on financial instruments: 299.23, against 525.67.
- Basic EPS: Rs. 31.27, against Rs. 7.87.
- Total income: 1,904.80 for the quarter and 3,689.23 for the half year.
Asset quality and capital (as at September 30, 2026)
- Gross Stage III: 1.79%
- Net Stage III: 0.59%
- Provision coverage: 67.55%
- Capital to Risk-Weighted Assets Ratio (CRAR): 26.90%
- Liquidity coverage ratio: 218.65%
- Debt-equity ratio: 2.86
Balance sheet size (Rs. in crore)
- Total assets: 34,449.86
- Loans: 29,293.77
- Net worth: 8,797.38
Other disclosures in the results notes
- Resolution plans implemented in terms of the RBI notification: 73,313 accounts with exposure of Rs. 178.60 crore as at September 30, 2026.
- Loans transferred through direct assignment during the quarter and half year: 25,572 loans, aggregate amount Rs. 289.60 crore, sale consideration Rs. 260.64 crore.
- Shares allotted on exercise of employee stock options: 2,58,646 during the quarter and 3,22,148 during the half year.
The board meeting began at 2:00 PM and concluded at 5:15 PM (IST).
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More numbers
- Term of appointment as Joint Statutory Auditor3 years
- Revenue from operations, Q2 FY27 (standalone)1,903.74 crore
- Profit for the period, Q2 FY27 (standalone)501.57 crore
- Basic EPS, Q2 FY27 (standalone)31.27
- Net worth as at September 30, 20268,797.38 crore
- Gross Stage III ratio1.79%
- Net Stage III ratio0.59%
- Capital to Risk-Weighted Assets Ratio (CRAR)26.90%
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