Futuristic Securities appoints MKPS & Associates as Statutory Auditors
Futuristic Securities Limited has appointed M/s. MKPS & Associates LLP as its new Statutory Auditors effective August 11, 2026, replacing M/s. MAKK & Co. which resigned due to a merger. The Board approved the appointment pending shareholder ratification at the 55th AGM on September 30, 2026. The incoming firm disclosed an ongoing proceeding against one partner but affirmed its independence and eligibility under the Companies Act, 2013.
*this image is generated using AI for illustrative purposes only.
Futuristic Securities Limited appointed M/s. MKPS & Associates LLP as its new Statutory Auditors on August 11, 2026, filling a casual vacancy created by the resignation of M/s. MAKK & Co. The Board of Directors made the appointment effective immediately, pending ratification by shareholders at the ensuing General Meeting in accordance with Section 139(8) of the Companies Act, 2013. The change follows the merger of the outgoing firm with the incoming one.
The transition was disclosed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. M/s. MAKK & Co. (FRN: 117246W) tendered its resignation citing the merger with M/s. MKPS & Associates LLP, confirming no other material reasons for departure. The outgoing auditors committed to filing Form ADT-3 with the Registrar of Companies and facilitating a smooth handover of records.
Auditor Transition Details
M/s. MKPS & Associates LLP (FRN: 302014E/W101061) provided consent for the appointment, affirming eligibility under Section 139 and independence from the company. The firm holds a valid Peer Review Certificate from the Institute of Chartered Accountants of India. However, the consent letter disclosed an ongoing proceeding against one partner that has not yet reached finality, though the firm stated this does not impair its eligibility or independence.
| Particulars | Outgoing Auditor | Incoming Auditor |
|---|---|---|
| Firm Name | M/s. MAKK & Co. | M/s. MKPS & Associates LLP |
| FRN | 117246W | 302014E/W101061 |
| Effective Date | August 11, 2026 | August 11, 2026 |
| Reason | Merger | Casual Vacancy |
Financial Context
The auditor change coincides with the company’s Q1FY26 results announcement. Futuristic Securities reported a net profit of ₹1.18 lakh for the quarter ended June 30, 2026, reversing a net loss of ₹1.62 lakh in Q1FY25. Revenue from operations remained flat at ₹1.58 lakh, while other income surged to ₹1.62 lakh from ₹0.07 lakh in Q4FY25. The Board also scheduled the 55th Annual General Meeting for September 30, 2026, where shareholders will vote on the statutory auditor appointment.
What the Numbers Show
The return to profitability in Q1FY26 was driven entirely by non-operating income, as core revenue remained stagnant at ₹1.58 lakh across comparable periods. This reliance on incidental gains highlights a need for operational growth to sustain earnings stability, making robust audit oversight critical for investor confidence.
Historical Stock Returns for Futuristic Securities
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | -4.91% | -31.16% | -45.92% | -41.27% | +93.17% |
How might the ongoing proceeding against a partner at MKPS & Associates LLP influence shareholder sentiment during the upcoming AGM ratification vote?
Given that Q1FY26 profitability was driven by non-operating income, what specific operational strategies is Futuristic Securities planning to implement to stabilize core revenue growth?
Will the merger between the outgoing and incoming audit firms result in any changes to the audit scope or fee structure for Futuristic Securities in the coming fiscal year?
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