Vedanta Limited – Board and Auditor Updates (29 April 2026)

Key Highlights

• Statutory Auditor Change
  • Outgoing: S.R. Batliboi & Co. LLP (completion of two consecutive terms).
  • Incoming: M S K A & Associates LLP, appointed for 5 years (until the 66th AGM).
  • The new auditor holds a valid peer‑review certificate and operates across 12 Indian cities.
• Director Changes
  • Resignation: Ms. Pallavi Joshi Bakhru (Independent Director) effective 30 Apr 2026, due to a conflict of interest with Grant Thornton’s involvement in Vedanta Group companies.
  • Appointment: Dr. Meena Hemchandra, Additional Non‑Executive Independent Director for a 1‑year term (1 May 2026 – 30 Apr 2027).
  • Dr. Hemchandra brings 40 years of RBI experience, expertise in banking supervision, cyber‑security, and corporate governance.
• Board Meeting Details
  • Date: 29‑Apr‑2026, 13:10 – 14:35 hrs.
  • Resolutions passed on auditor appointment, director resignation, and new director appointment.

Financial & Strategic Implications

• Audit Quality: M S K A & Associates LLP is a well‑established firm with ICAI and PCAOB registration, ensuring continuity of high‑quality audit standards. No expected impact on financial statements or disclosures.
• Governance Strengthening: Dr. Hemchandra’s background in central banking, risk management, and cyber‑security adds valuable oversight, particularly as Vedanta expands in regulated sectors and digital initiatives.
• Compliance: The resignation of Ms. Bakhru aligns with independence norms, mitigating any regulatory risk.

Risks & Opportunities

• Risks
  • Transition to a new auditor may involve short‑term adjustments in audit processes, though the firm’s experience mitigates this.
  • No material operational risk identified from the director changes.
• Opportunities
  • Enhanced board expertise could improve strategic decisions around financing, risk mitigation, and technology adoption.
  • Strong audit partnership may bolster investor confidence and facilitate smoother capital market activities.

Outlook

• The announcements are procedural and compliance‑driven, with a neutral to positive impact on Vedanta’s governance framework.
• Investors can view the changes as a strengthening of oversight rather than a signal of underlying issues.

Prepared for Vedanta Limited investors on 29 April 2026.