RPRamgopal Polytex514223Auditor resignation (mid

Statutory auditor resigns; firm cites restructuring and expiring peer review certificate

Ramgopal Polytex's statutory auditor, M/s. Rungta Agarwal and Associates, has resigned with immediate effect from November 05, 2026, citing the firm's own restructuring and a peer review certificate expiring this month.

By ScoutQuest · Thu 5 Nov 2026, 5:25 PM IST · 2 min read

Quarter Loss

loss of Rs. 9.36 lakh for the quarter

Half Year Loss

Rs. 9.00 lakh for the half year

Revenue from Operations (Quarter)

Rs. 33.38 lakh for the quarter

What was announced

• The board of Ramgopal Polytex met on November 05, 2026 and approved the unaudited financial results for the quarter and half year ended September 30, 2026.
• The statutory auditor, M/s. Rungta Agarwal and Associates (formerly Shanker and Kapani), Chartered Accountants, tendered its resignation vide its letter dated November 05, 2026, effective November 05, 2026.
• Before resigning, the firm issued its limited review report dated November 05, 2026 on those results, which states that nothing came to its attention suggesting the statement contains a material misstatement.

The auditor's stated reason

• The firm says it has undergone restructuring and its current Peer Review Certificate is expiring during this month.
• It has clarified that it has no dispute with the management and no concern relating to suppression of information by the management for the purpose of carrying out the audit.
• In the SEBI-format annexure, the questions about information not being provided are marked "Not Applicable", and "Any other facts relevant to the resignation" is recorded as "Nil".
• The firm will file the requisite statement in Form ADT-3 with the Registrar of Companies.
• It was appointed as statutory auditor at the annual general meeting held on September 30, 2022 to audit financial years 2022-23 to 2026-27, with the term scheduled to end upon conclusion of the annual general meeting to be held in the calendar year 2027.

The numbers approved at the same meeting (Rs. in lakhs)

• Revenue from operations for the quarter ended September 30, 2026: 33.38.
• Loss before tax for the quarter: (9.36).
• Loss for the half year ended September 30, 2026: (9.00).
• Basic earnings per share for the quarter, on shares of face value Rs.10 per share, not annualised: (0.065).
• Paid-up equity share capital: 1,439.63; other equity: (376.76).
• Cash and cash equivalents as at September 30, 2026: 3.23.

Points a retail investor may weigh

• The resignation is with immediate effect, so the audit of the current year passes to a successor firm that is yet to be appointed.
• The outgoing firm's own letter records no dispute with the management and no concern about suppression of information, which is the key distinction between a firm-level exit and a contested one.
• The company also disclosed, in the same update, that it continues to incur losses at both the quarter and half-year level, as shown by the figures above.

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