Starteck Finance Limited has informed the Exchange regarding Change in Auditors of the company.
STARTECK · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Starteck Finance Limited's board meeting on 13th May 2026 approved the audited standalone and consolidated financial results for FY ended March 2026. Consolidated net profit rose to Rs 236.21 lakh from Rs 104.42 lakh in the prior year, while standalone profit more than doubled to Rs 171.56 lakh from Rs 100.37 lakh. The board recommended a final dividend of Rs 0.25 per share (2.5%), with promoters waiving their dividend rights. Critically, the company is changing its statutory auditor from M/s MKPS & Associates to M/s Bagaria & Co. LLP for a 5-year term subject to shareholder approval. The auditors issued an unmodified (clean) opinion on the financial statements. However, the consolidated auditor's report flagged a material going concern uncertainty in subsidiary Bhuwalka Steel Industries Ltd, which has a negative net worth of Rs 69.08 crore.
The auditor change is routine (new appointment after completion of current term) and not a distress signal. The strong profit growth and clean audit opinion are positive. However, the flagged going concern issue in the subsidiary warrants attention as it could impact consolidated valuations.