Appointment of Statutory Auditor to fill the casual vacancy subject to the approval of Share Holder
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Tirupati Finlease Ltd held a board meeting on 23 May 2026 where it approved audited financial results for Q4 and FY ended March 2026. The company reported total income of Rs 227.53 Lakhs (up from Rs 209.47 Lakhs) but profit before tax declined to Rs 56.97 Lakhs from Rs 74.75 Lakhs in the previous year. Key balance sheet changes include borrowings nearly doubling to Rs 977.27 Lakhs and trade receivables rising sharply to Rs 1003.55 Lakhs from Rs 616.88 Lakhs. The Board also accepted the resignation of M/s S T A P & Co. as Statutory Auditor effective the same day due to their other professional commitments, and appointed M/s A D A & Associates to fill the casual vacancy for FY 2026-27, pending shareholder approval at the general meeting.
The auditor change appears routine as the outgoing firm cited professional commitments. However, shareholders should note the significant increase in borrowings and trade receivables which warrant monitoring. The new auditor appointment requires shareholder ratification at the upcoming general meeting.