Kwality Ltd.’s Board Approves Appointment of New Statutory Auditors

Kwality Ltd., amongst largest and fastest growing private dairy companies in India, today announced that the Board has considered and approved appointment of MSKA & Associates (‘MSKA’) as its new statutory auditors for the period FY 2017-18 to FY 2021-22, subject to approval from shareholders in Annual General Meeting proposed to be held in Sep’ 2017.

India based MSKA, is a member firm of BDO network, which is world’s fifth largest in terms of geographic footprint with presence in 159 countries with over 1,400 offices and 67,700 professionals. The renowned Chartered Accountancy Firm specializes in providing high-end services in Tax, Regulatory and Audit Assurance domain. With a team of 10 Partners and over 200 employees with rich experience, the company serves top-notch Multinational Companies and Indian Corporates across industries including Technology, Services, Real Estate, Manufacturing & Distribution Segments. Having presence in seven cities - Bengaluru, Chennai, Kolkata, Hyderabad, Mumbai, Delhi/NCR - Gurgaon and Pune, MSKA has extensive experience in delivering assurance services, adopt best global practices, and audit tools to address dynamic service needs of its clients.

Commenting on the development, Mr. Nawal Sharma, President & Head Business Transformation, Kwality Ltd., said, “This is a significant development as part of our transformation. For us, Business transformation is more than changing our business model towards B2C, it’s about changing the DNA of the organization with an aim to be a world-class company in terms of quality and professional standards. As a company, it is our continuous endeavor to streamline process, build and implement process oriented frameworks to ensure adherence to supreme level of corporate governance within the organization. To achieve this, collaborations and associations with domain experts and specialist organizations is essential. We strongly believe, this association would further add credibility and bolster the confidence of all stakeholders of our company”.

About Kwality Limited

Incorporated in 1992, Kwality Limited is amongst largest and fastest growing private dairy companies in India today with milk processing capacity of 4.3 Mn Litres /Day through its six state‐of‐the‐art plants strategically located close to key north markets. The company has established procurement network comprising of ca. 350,000 farmer families across ca. 4,700 villages in U.P., Haryana, and Rajasthan which are amongst the largest milk producing states of India. The product range includes variants of pouched milk, ghee, cow ghee, Livlite 85% less cholesterol ghee, UHT milk, UHT cream, curd, skimmed milk powder, wake up creamer, flavored milk, chaach, lassi and other dairy products, catering to retail and institutional customers through its wide distribution network. Kwality Limited was conferred the Dun & Bradstreet Corporate Award 2014 as the top Indian Company under the sector ‘Food & Agro Processing’.