Re-appointment of M/s Shah Patni & Co. as Internal Auditor for FY 2026-27
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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Universal Autofoundry held its first board meeting for FY 2026-27 on May 27, 2026, approving multiple items. The company reported audited financial results showing a loss of ₹3.34 crore for FY2026 compared to a profit of ₹2.35 crore in FY2025, a significant decline in performance. Key appointments include re-appointment of M/s Shah Patni & Co. as Internal Auditor, M/s Girdhar Chaudhary & Co. as Cost Auditor, and M/s Goverdhan Agarwal & Co. as Statutory Auditors for a second 5-year term. The board also approved increasing borrowing limits and shareholders' approval limits from ₹100 crore to ₹150 crore each. The statutory auditors issued an unmodified (clean) opinion on the financial statements.
The company posted a loss for FY2026 after profits in the previous year, indicating a concerning operational downturn. The increase in borrowing limits to ₹150 crore suggests the company may need additional debt financing. Re-appointments of all three auditors and a clean audit opinion provide stability in governance, but investors should monitor the company's recovery path given the swing from profit to loss.