Uravi Defence clarifies audit qualification impact on FY26 results

Uravi Defence and Technology reported a net profit of ₹213.98 crore for the financial year ended March 31, 2026, in its audited consolidated results. The statutory auditors issued a modified opinion due to the inclusion of share of profit from a new associate, Spafax Group, based on unaudited management accounts. The company clarified there is no change or revision to the financial results previously submitted to the exchanges.

The modified opinion arises because Spafax International Holding Limited became an associate of the group on February 23, 2026, following the acquisition of more than 20% equity stake. The consolidated financial results include a share of profit of ₹72.05 lakh from this associate. However, the auditors were unable to obtain sufficient appropriate audit evidence as the audited financial statements of the Spafax Group were not available, necessitating reliance on unaudited management accounts.

The management stated that the precise impact of the qualification is unascertainable until audited financial statements are received. The maximum quantifiable impact on a gross basis is the reversal of the entire share of profit from the associate, amounting to ₹72.05 lakh, from the consolidated net profit. The company is actively pursuing the receipt of audited financial statements to incorporate any material adjustments in subsequent periods.

Financial Performance

For the year ended March 31, 2026, the company reported total income of ₹3,986.85 crore and total expenses of ₹3,900.63 crore. Profit before tax stood at ₹158.27 crore, while profit after tax was reported at ₹111.54 crore from continuing operations. The results include a profit of ₹102.44 crore from discontinued operations, primarily related to the sale of SKL India Private Limited, which ceased to be a subsidiary with effect from March 18, 2026.

The board approved the audited standalone and consolidated financial results at its meeting held on May 28, 2026. The statutory auditors, Viren Gandhi & Co., issued an unqualified opinion on the standalone financial results.

Metric	FY26 (₹ in Lakhs)	FY25 (₹ in Lakhs)
Total Income	3,986.85	4,223.98
Total Expenses	3,900.63	3,968.55
Net Profit	213.98	254.43
Earnings Per Share (Basic)	0.92	2.31

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.11%	-0.73%	-8.06%	-33.71%	-77.19%	-59.53%

Uravi Defence and Technology Limited has confirmed that its promoters and persons acting in concert did not create any fresh encumbrances on the company's shares during the financial year ended March 31, 2026. The disclosure, made by Promoter Kaushik Damji Gada on behalf of all promoters, the promoter group, and persons acting in concert, states that no shares were encumbered directly or indirectly other than those already disclosed in the financial year 2025-26. This declaration was submitted to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

The filing provides a detailed breakdown of the shareholding held by the promoters and persons acting in concert. The aggregate holding amounts to 6,178,160 shares. Out of this total, a cumulative 444,400 shares remain encumbered as previously disclosed to the stock exchanges. The majority of the listed entities hold unencumbered shares, with only one shareholder, Priyanka Aggarwal, recording encumbered shares against her name.

Shareholding Details

The following table outlines the number of shares held by each promoter and person acting in concert, along with the status of encumbrances:

Sr. No.	Names of Promoters/Promoter Group & PAC	No. of Shares	No. of Shares Encumbered
1.	Niraj Damji Gada	1855380	NIL
2.	Kaushik Damji Gada	84480	NIL
3.	Brijesh Aggarwal	109160	NIL
4.	Gada Niraj Damji HUF	120020	NIL
5.	Viney Parkash HUF	800	NIL
6.	Damji Manek Gada	720020	NIL
7.	Damji Manek Gada HUF	40020	NIL
8.	Kaushik Damji Gada HUF	140020	NIL
9.	Rachana Niraj Gada	440020	NIL
10.	Brijesh Agarwal HUF	520	NIL
11.	Viney Parkash Aggarwal	1200	NIL
12.	Harsha Kaushik Gada	260020	NIL
13.	Dina Damji Gada	340020	NIL
14.	Priyanka Aggarwal	444420	444400
15.	Viney Corporation Limited	1622060	NIL
16.	Rakesh Kumar Aggarwal	NIL	NIL
17.	Ved Parkash HUF	NIL	NIL
18.	Ansh Niraj Gada	NIL	NIL
19.	Ritu Niraj Gada	NIL	NIL
20.	Piyush Kalyani Gala	NIL	NIL
21.	Shlok Kaushik Gada	NIL	NIL
22.	Siddhant Kaushik Gada	NIL	NIL
23.	Narayn K Lilani	NIL	NIL
24.	Sanya Rameshkumar Gidwani	NIL	NIL
25.	Pratiksha Gidwani	NIL	NIL
26.	Manisha Mansukhani	NIL	NIL
27.	Renu Garg	NIL	NIL
28.	Krishan Dass Gupta	NIL	NIL
29.	Kapil Gupta	NIL	NIL
30.	Vansh Aggarwal	NIL	NIL
31.	Ansh Aggarwal	NIL	NIL
32.	Atul Gupta	NIL	NIL
33.	Shah Devchand & Co	NIL	NIL
	Total	6178160	444400