Yuken India Limited announced that M/s. VKAN & Associates, Chartered Accountants, have resigned as the statutory auditors of its material subsidiary, Coretec Engineering India Private Limited. The resignation is effective from the close of business hours on June 02, 2026, due to the auditor's pre-occupation and inability to devote the requisite time and resources necessary to continue discharging their responsibilities.

The audit firm stated that the decision was made after careful consideration of their current portfolio of professional assignments and resource allocation. They clarified that the resignation is solely on account of pre-occupation and is not attributable to any reason concerning the affairs, financial position, internal controls, governance, or management of Coretec Engineering India Private Limited.

M/s. VKAN & Associates were appointed as statutory auditors at the 26th Annual General Meeting of Coretec Engineering India Private Limited held on September 03, 2024. Their term was scheduled to conclude at the end of the 31st Annual General Meeting of the company for the financial year 2028-29.

The firm confirmed that there are no other facts or circumstances connected with the resignation that require being brought to the notice of the members, the Board of Directors, the Audit Committee, the Holding Company, or any regulatory authority. The resignation follows the completion of the statutory audit for the financial year ended March 31, 2026, to allow the subsidiary adequate time to appoint a successor.

Auditor Details

Key Timeline

Yuken India Limited reported a consolidated revenue from operations of ₹46,618.47 lakh for the financial year ended March 31, 2026, compared to ₹46,109.38 lakh in the previous year. Profit after tax for the year stood at ₹1,439.03 lakh, a decrease of 41.5% from ₹2,460.16 lakh in FY25. The board recommended a final dividend of ₹1.50 per equity share for FY26, subject to shareholder approval. The statutory auditors, M/s. Walker Chandiok & Co LLP, issued an unmodified opinion on the audited financial results. The company published these audited results in newspapers on May 27, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The standalone revenue from operations for FY26 was ₹40,251.61 lakh, up from ₹39,693.03 lakh in the prior year. Standalone profit after tax for the year was ₹1,335.62 lakh, slightly lower than ₹1,384.00 lakh in FY25. For the quarter ended March 31, 2026, the company reported a consolidated PAT of ₹580.01 lakh, while standalone PAT was ₹437.38 lakh.

Dividend Recommendation

The Board of Directors recommended a final dividend of 15%, or ₹1.50 per equity share of face value ₹10 each, for FY26. This payout is subject to the approval of shareholders at the ensuing Annual General Meeting. If approved, the dividend will result in a cash outflow of ₹203.76 lakhs.

Auditor Appointments

The board re-appointed M/s. Adarsh Sharma & Co., Cost Accountants, as Cost Auditors for FY27. Additionally, M/s. Gnanoba & Bhat, Chartered Accountants, were re-appointed as Internal Auditors for the financial year 2026-27.

Key Financial Metrics