Uravi Defence and Technology Limited has successfully appointed new statutory auditors following the recent resignation of its previous auditing firm due to remuneration disputes.

Previous Auditor Resignation

New Auditor Appointment

The Board of Directors, on the recommendation of the Audit Committee, has approved the appointment of M/s Viren Gandhi & Co. (Chartered Accountants) as the company's new statutory auditors effective December 10, 2025.

About the New Auditing Firm

Viren Gandhi & Co. is a multi-disciplinary Chartered Accountancy firm offering comprehensive services in core areas including IND AS Convergence, Statutory Audits, Direct/Indirect Taxation, and Regulatory Functions. The firm also provides Business Advisory and Management Consultancy services. Notably, Viren Gandhi & Co. is a Peer Reviewed firm and possesses the requisite ICAI Certificate for the same.

Regulatory Compliance and Next Steps

The appointment is subject to approval by members at a general meeting pursuant to provisions of Section 139(8) of the Companies Act, 2013, which must be conducted within three months from the date of appointment. The company has disclosed this information in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

This development ensures continuity in the company's audit functions and demonstrates the board's commitment to maintaining proper governance standards following the previous auditor's departure over remuneration disagreements.

Uravi Defence and Technology Limited , a player in the automotive and defence sectors, has reported a narrowed loss for the quarter ended September 30, 2025, showcasing improvements in its financial performance.

Financial Highlights

The company's unaudited financial results for Q2 FY2026 reveal:

All figures in lakhs

Improved Performance

Uravi Defence and Technology has shown progress in reducing its losses compared to the same period last year. The net loss for Q2 FY2026 stood at ₹51.76 lakh, down from ₹78.05 lakh in Q2 FY2025, marking a 33.7% improvement.

Segment-wise Revenue

The company's revenue breakdown for Q2 FY2026 highlights a strong performance in the defence segment:

• Defence Segment: ₹200.85 lakh
• Automotive Segment: ₹0.54 lakh

This indicates that the defence sector is currently the primary revenue driver for the company.

Half-Year Results

For the half-year ended September 30, 2025:

• Standalone net loss: ₹74.56 lakh (vs ₹78.05 lakh in H1 FY2025)
• Consolidated net loss: ₹108.08 lakh

Corporate Actions

The Board of Directors approved these results in a meeting held on November 10, 2025. The company has also disclosed that during FY 2024-25, it issued 15,00,000 partly paid share warrants on a preferential basis, convertible into equity shares. As of the latest report, 2,60,000 warrants were converted into equity shares at an average price of ₹165 per share.

Looking Ahead

While Uravi Defence and Technology continues to face challenges, the reduction in losses and the strong performance of its defence segment suggest potential for future growth. The company's focus on the defence sector, which contributed significantly to its revenue this quarter, may indicate a strategic shift or emphasis on this higher-performing segment. However, it remains to be seen how the automotive segment will develop and contribute to the overall business in future periods.