Financial Results for Quarter Ended June 30, 2026

  • Revenue from Operations: ₹35.19 lakh (compared to ₹26.62 lakh in Q1 FY26 and ₹47.44 lakh in Q4 FY26)
  • Other Income: ₹1.82 lakh (compared to ₹7.30 lakh in Q1 FY26)
  • Total Income: ₹35.37 lakh (compared to ₹27.35 lakh in Q1 FY26)
  • Net Profit after Tax: ₹4.51 lakh (compared to ₹2.11 lakh in Q1 FY26)
  • Earnings Per Share (Basic): ₹0.36 (compared to ₹0.19 in Q1 FY26)
  • Paid-up Equity Share Capital: ₹12.61 lakh (face value ₹10 per share)

Key Notes from Financial Results

  • Profitability adversely impacted due to increased energy costs from geopolitical disturbances in the Middle East
  • High Purity and Ultra High Purity (UHP) tubes project under trial production, expected to commence within current year
  • Current order book of approximately ₹114 crores, including export orders from Middle East clients
  • Board approved further capital expenditure of ₹27.50 crores for UHP tube capacity expansion
  • Board approved fundraising of ₹22.20 crores via equity shares and convertible warrants

Auditor Appointments

  • Cost Auditors: Reappointment of Kejriwal & Associates for FY 2026-27
  • Internal Auditors: Reappointment of SIGMAC & Co. for FY 2026-27

Preferential Allotment Details

Convertible Warrants to Non-Promoter Category
  • Allottee: WSG Co., Ltd, South Korea
  • Instrument: 397,377 Convertible Warrants
  • Issue Price: ₹180 per warrant
  • Total Amount: ₹7,15,27,950 (approximately ₹7.15 crore)
  • Conversion Terms: Each warrant convertible into 1 equity share within 18 months from allotment
  • Payment Terms: 25% payable at application, balance at conversion
Equity Shares to Promoter Group Category
  • Skyrise Mercantile Limited: 500,000 equity shares at ₹180 per share (₹9.00 crore total)
  • Hanuman Freight & Carriers Private Limited: 166,666 equity shares at ₹180 per share (₹3.00 crore total)
Equity Shares to Non-Promoter Category
  • Jay Bharat Mehta: 55,555 equity shares at ₹180 per share (₹1.00 crore total)
  • J B Mody Enterprises LLP: 55,555 equity shares at ₹180 per share (₹1.00 crore total)
  • SNS Ventures LLP: 55,555 equity shares at ₹180 per share (₹1.00 crore total)

Director Changes

  • Appointment: Shri Ritvik Saraf (DIN: 01638851) as Promoter, Non-Executive, Non-Independent Director effective August 1, 2026
  • Age: 40 years, Engineering degree from University of Leeds, England
  • Related to company promoters, over 15 years experience in manufacturing, sales, marketing
  • Replaces resigning director Shri Vishwambhar C. Saraf
  • Resignation: Shri Vishwambhar C. Saraf (DIN: 00175393) due to advanced age (87 years) effective August 1, 2026
  • Designation Changes:
  • Shri Vishwambhar C. Saraf appointed as Chairman Emeritus effective August 1, 2026
  • Shri Rajendra C. Saraf designated as Non-Executive Chairman effective August 1, 2026

Capital Expenditure Approval

  • Purpose: Increase manufacturing capacity of Ultra High Purity (UHP) tubes
  • Existing Capacity: 900 MTPA (currently under trial run)
  • Proposed Addition: 500 MTPA
  • Investment Required: ₹27.50 crores
  • Implementation Timeline: 12 months
  • Financing Mode: Mix of equity and internal accruals
  • Rationale: UHP tubes have applications in pharma, food & dairy, semiconductor, and solar industries

Corporate Calendar

  • 55th Annual General Meeting: Scheduled for Monday, August 31, 2026 at 3:30 PM IST through VC/OAVM
  • Register Closure: Monday, August 24, 2026 to Monday, August 31, 2026 (both days inclusive)

Meeting Details

  • Board Meeting: Commenced at 7:30 PM, concluded at 1:02 PM on July 31, 2026