Re-appointment of M/s Girdhar Choudhary & Co. as Cost Auditor of the Company for FY 2026-27
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Universal Autofoundry Limited held its first Board Meeting for FY 2026-27 on May 27, 2026. The company reported audited financial results showing a significant decline in performance for FY 2025-26, with revenue from operations at Rs 15,354.90 lakhs compared to Rs 19,388.90 lakhs in the previous year. The company swung to a net loss of Rs 334.39 lakhs versus a profit of Rs 235.37 lakhs in the prior year. Total comprehensive income for the year stood at Rs 335.99 lakhs. The Board re-appointed M/s Girdhar Chaudhary & Co. as Cost Auditors and M/s Shah Patni & Co. as Internal Auditors for FY 2026-27. M/s Goverdhan Agarwal & Co. was re-appointed as Statutory Auditors for a second term of 5 years. The Board also approved increasing borrowing and asset sale limits from Rs 100 Cr to Rs 150 Cr, subject to shareholder approval. The auditors issued an unmodified opinion on the financial statements.
The company experienced a significant turnaround from profit to loss in FY2025-26, indicating operational challenges. The routine re-appointment of auditors maintains governance continuity. The increase in borrowing limits suggests potential future capital needs, which could be a concern given the loss-making position.