Appointment of M/s. CRK & Associates, Chartered Accountants, as internal auditors of the company for the year 2026-2027.
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Ushakiran Finance Ltd reported audited financial results for FY2025-26 ending March 31, 2026. Total income declined to Rs. 47.23 lakhs from Rs. 55.40 lakhs in the previous year, while profit before tax dropped significantly to Rs. 1.70 lakhs from Rs. 29.40 lakhs. The company reported a total comprehensive loss of Rs. 298.78 lakhs, primarily due to negative other comprehensive income of Rs. 343.55 lakhs. Total assets reduced to Rs. 1,353.77 lakhs from Rs. 1,684.11 lakhs. The company also appointed M/s. CRK & Associates as internal auditors for 2026-2027 after the previous auditor (M/s. Venkataratnam & Associates) declined reappointment. Statutory auditors NSVR & Associates LLP issued an unmodified opinion.
The significant decline in profitability and large comprehensive loss due to fair value changes may concern investors. The change in internal auditors without prior auditor's consent could signal internal governance review, though the statutory audit received clean opinion.