Auditor resigns
As filed · General Updates
GovernanceDeterioratingCriticalmateriality 91 out of 100
What happened
FactFor Confidence Petroleum India Limited.
Why it matters
CapitSignal interpretationAn auditor leaving mid-term removes the independent check on the accounts, and the stated reason is itself disclosable information.
What management said before
Prior statements by this company that CapitSignal has recorded changing.
Capex
RevisedEarlierQ2 FY20
Confidence remains on track to achieve 280 Auto LPG stations by the end of March, 2020.
NowQ2 FY20
This is part of its goal of setting up 500 Auto LPG stations by March, 2022.
Change
FactTarget revision
Implication
CapitSignal interpretationThe earlier statement aimed for 280 Auto LPG stations by March 2020, while the current statement has revised the target to 500 stations by March 2022.confidence 100%
Earlier statement · Q2 FY20Latest statement · Q2 FY20
Watch next
Fact- The reason given in the resignation letter
- Who is appointed in their place, and how quickly
- Whether the next results are delayed
- Company has target is to commission the CNG Cylinder manufacturing unit near Nagpur in this financial year. (management committed by FY27)
- Company is targeting for CNG Retail stations, initial 100 Stations will likely to commence in next 2 years in (management committed by H1 FY27)
Evidence
- Confidence Petroleum India Limited has informed the Exchange about General Updates-Resignation of Statutory Auditor (Joint)(opens the original filing in a new tab)
- Earlier statement · Q2 FY20
- Latest statement · Q2 FY20
How CapitSignal classified this
- Reasoning:
- AUDITOR_RESIGNATION base 86; +5 quantified amount; matched on subject
- Matched on:
- the filing's own subject line
- Confidence in the event type:
- 75%