Setco Automotive: Auditors Issue Qualified Opinion on Consolidated Financials

Setco Automotive Ltd has announced that its statutory auditors, M/s. Sharp & Tannan Associates, have issued a qualified opinion on the consolidated annual audited financial statements for the financial year ended March 31, 2026. The qualification stems from the inability to prepare consolidated financial statements as required by IFRS 10 for a subsidiary, Setco Automotive (UK) Limited. The company states that this qualification has no impact on the reported financial figures, including turnover, expenditure, net profit/loss, and net worth, as the audited figures before and after adjusting for qualifications remain the same. Management estimates no impact from this audit qualification.