Modified audit opinion on FY26 consolidated results; Spafax associate unaudited

Qualified OpinionAuditor Mid Year ChangeRevenue DeclineResults View source PDF Explain this filing

URAVIDEF · price

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Price reactionminutes from the announcement price · days from the prior close

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₹113.69

prior close

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announcement price

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Nifty Microcap 250market · in no size index; the smallest one is used+0.8%+1.2% vs market

Auto Components & Equipments peers, median of 116sector+0.9%+1.1% vs sector

On the reaction day the stock moved 1.2 pts more than Nifty Microcap 250 and 1.1 pts more than its Auto Components & Equipments peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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UpDownMarket · Nifty Microcap 250Sector · Auto Components & Equipments peers, median of 116Pending

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AI summary

Uravi Defence filed FY26 (year ended March 31, 2026) audited results. Auditor Viren Gandhi and Co issued a Modified Opinion on consolidated results because the share of profit from new associate Spafax (Rs. 72.05 lakhs) was based on unaudited management accounts, with no audited financials available. Standalone results carry no qualifications. Standalone revenue fell to Rs. 4,049.20 lakhs (from Rs. 4,223.97) and net profit dropped to Rs. 131.70 lakhs (from Rs. 178.58). Subsidiary SKL India was sold on March 18, 2026.

Likely market impact

Qualified opinion on consolidated numbers may worry investors; Spafax associate contribution of Rs. 72.05 lakhs is unaudited and may later be revised.