Board Meeting Details

The Board of Directors meeting was held on Tuesday, May 26, 2026, at the Registered Office of the Company at E-2/57, Arera Colony, Bhopal-462016 (M.P.). The meeting commenced at 12:00 Noon and concluded at 06:05 P.M.

Key Approvals and Outcomes

The Board inter-alia considered and approved the following items:

1. Audited IndAS Standalone Financial Results of the Company for the quarter and year ended March 31, 2026, along with the Auditor's Report, as reviewed and recommended by the Audit Committee.

2. Audited IndAS Consolidated Financial Results of the Company for the quarter and year ended March 31, 2026, along with the Auditor's Report, as reviewed and recommended by the Audit Committee.

3. Appointment of M/s Simran Khanuja & Co., Practicing Chartered Accountants (Firm Registration No. 035454C), Bhopal, as the Internal Auditors of the Company for the financial year 2026-27, as recommended by the Audit Committee.

Declaration and Certification

A declaration confirming an unmodified opinion from the auditor on the Annual Audited Financial Results is enclosed as Annexure-A.

A disclosure pursuant to SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, regarding the appointment of the Internal Auditor is enclosed as Annexure-B.

The Chief Financial Officer, Pradeép Vasant Narkhede, certified pursuant to Regulation 33(2)(a) that the Audited Financial Results for the quarter and year ended March 31, 2026, are true and fair, contain no misleading statements, and are prepared in accordance with Ind AS.

Financial Performance Highlights (Consolidated)

For the Year Ended March 31, 2026:

  • Total Income: ₹4,219.33 Lakhs (₹42.19 Crore)
  • Profit Before Tax: ₹617.92 Lakhs (₹6.18 Crore)
  • Tax Expense: ₹220.87 Lakhs (₹2.21 Crore)
  • Profit for the period (Net Profit): ₹397.05 Lakhs (₹3.97 Crore)
  • Earnings Per Share (Basic & Diluted): ₹1.25

For the Quarter Ended March 31, 2026:

  • Profit for the period (Net Profit): ₹60.93 Lakhs (₹0.61 Crore)
  • Earnings Per Share (Basic & Diluted): ₹0.19

Financial Performance Highlights (Standalone)

The standalone net profit for the year ended March 31, 2026, was ₹349.71 Lakhs (₹3.50 Crore).

Key Financial Notes and Events

1. Fire Accident Loss: The Company incurred a loss from a fire accident on October 16, 2025, at its factory in Mandideep, Madhya Pradesh. A loss of ₹21.21 crore was recognized for stock and fixed assets, and ₹0.13 crore for building restoration. An insurance claim of ₹3.27 crore was lodged. The insurer accepted a claim of ₹1.85 crore, which was received by the reporting date.

2. Associate Company Dispute: The Company is involved in an ongoing dispute concerning its ownership of shares in Enerqual Technology Private Limited (an Associate). This dispute prevents the Company from obtaining sufficient financial information from Enerqual. Consequently, the investment is valued at cost, and no impairment testing has been performed. The share of profit from the associate for FY 2024-25, amounting to ₹1.22 Lakhs, is recognized. The dispute is not expected to have a material impact on the financial statements.

3. Margin Improvement: Gross and net profit margins showed a continued increasing trend due to a change in product mix, including manufacturing advanced rating panels (up to 220 kV) and expected future volume increases.

4. Subsidiaries: The consolidated results include subsidiaries Faradigm Ultracapacitors Private Limited and AIC - Aartech Solonics Pvt Ltd.

Internal Auditor Appointment Details

  • Firm: M/s Simran Khanuja & Co., Chartered Accountants
  • Firm Registration No.: 035454C
  • Reason for Change: Appointment as Internal Auditor
  • Date of Appointment: May 26, 2026
  • Term: Financial Year 2026-27
  • Brief Profile: A proprietorship firm established in 2023, providing accounting, auditing, taxation, and consultancy services.
  • Disclosure of Relationships: Not Applicable

Capital Structure

  • Paid-up equity share capital: ₹1,588.52 Lakhs (Face value: ₹5 per share)
  • The capital structure remained unchanged from the previous year.

Auditor's Report Emphasis of Matter

The statutory auditor, BANCRS AND Co. LLP, included an Emphasis of Matter paragraph in their report drawing attention to Note No. 6 regarding the investment in Enerqual Technologies Pvt. Ltd. and the associated dispute impacting the availability of financial information. Their opinion is not modified in respect of this matter.

Cash Flow (Standalone)

  • Net cash generated from/(used in) operating activities: (₹281.01 Lakhs)
  • Net cash generated from/(used in) investing activities: ₹530.61 Lakhs
  • Net cash generated from/(used in) financing activities: ₹6.46 Lakhs
  • Net increase/(decrease) in cash and cash equivalents: ₹159.64 Lakhs