Announced Thu, 30 Apr · 12:35 IST

Newgen Software Technologies Limited has informed the Exchange about Re-appointed M/s Walker Chandiok & Co LLP, Chartered Accountants (Firm Registration No. 001076N/N500013) as Statutory Auditors of the Company for the second term of 5 (five) years

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AI summary

Newgen Software Technologies has re-appointed its existing auditor Walker Chandiok & Co LLP for a second 5-year term subject to shareholder approval at the 34th AGM. For FY2026, consolidated revenue grew 6% to Rs 1,574.40 crores, though net profit declined 5% to Rs 300.58 crores (vs Rs 315.24 crores in FY2025). Standalone revenue increased to Rs 1,419.93 crores with net profit of Rs 285.20 crores. The company also recommended a dividend of Rs 6 per share (60% payout). Exceptional items included a Rs 30.06 crore impact from new labour codes and Rs 13.37 crore provision for a legal claim. The audit report was issued with an unmodified (clean) opinion, and internal auditor PwC Services was also re-appointed for FY2026-27.

Likely market impact

The continuation of the same auditor for a second term indicates stability in audit governance. Revenue growth is positive but the decline in profitability may concern investors. The dividend payout and clean audit opinion provide some support to shareholder sentiment.