Starteck Finance Appoints Bagaria & Co. LLP as New Statutory Auditors, Recommends 2.5% Dividend
Starteck Finance's Board approved FY26 audited financial results and recommended a 2.5% final dividend, subject to shareholder approval. M/s. Bagaria & Co. LLP was appointed as the new Statutory Auditors for five years, pending shareholder consent. M/s. Sandeep V. Chavan and Co. was re-appointed as Internal Auditor for FY27.
The appointment of new statutory auditors and the recommendation of a dividend are material events for shareholders. The dividend provides a direct financial return, and the auditor change impacts corporate governance and financial reporting oversight, thus having a medium-term impact.
The announcement contains routine corporate actions like financial result approval, dividend recommendation, and auditor appointments, which are standard disclosures. While the dividend recommendation is positive, the auditor change is a procedural event. The overall sentiment is neutral.
Starteck Finance Limited announced the outcome of its Board Meeting held on May 13, 2026.
The Board approved the Audited Financial Statements (Standalone and Consolidated) for the financial year ended March 31, 2026, and the Audited Financial Results for the quarter and year ended March 31, 2026. The company's statutory auditors, M/s. MKPS & Associates, issued an unmodified (unqualified) audit report on these financial statements.
Furthermore, the Board recommended a final dividend of 2.5%, or Re. 0.25 per equity share of Rs. 10 face value, for the financial year ended March 31, 2026. This recommendation is subject to shareholder approval at the upcoming Annual General Meeting (AGM). Notably, the Promoter and Promoter Group have waived their rights to receive this dividend.
In a significant decision, the Board, based on the Audit Committee's recommendation, approved the appointment of M/s. Bagaria & Co. LLP as the new Statutory Auditors for a term of five consecutive years, starting from the conclusion of the 41st AGM until the conclusion of the 46th AGM. This re-appointment also requires shareholder approval at the ensuing AGM.
Additionally, M/s. Sandeep V. Chavan and Co. has been re-appointed as the Internal Auditor for the Financial Year 2026-27, also based on the Audit Committee's recommendation.
The Board meeting commenced at 06:30 p.m. and concluded at 07:00 p.m.
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Starteck Finance Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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