Financial Performance Highlights

Revenue from Operations: ₹85,912.92 lakhs (₹859.13 crore), representing 30.4% YoY growth from FY25's ₹65,908.54 lakhs

Profit Before Tax: ₹1,721.96 lakhs, down 16.8% from FY25's ₹2,070.21 lakhs

Profit After Tax: ₹1,234.21 lakhs (₹12.34 crore), declining 15.1% from FY25's ₹1,454.47 lakhs

EBITDA: ₹4,731.80 lakhs with EBITDA margin of 5.51% (down from 7.56% in previous year)

Earnings Per Share (Basic): ₹14.59 (FY25: ₹17.20)

Return on Equity: 5.27% (FY25: 6.61%)

Return on Capital Employed: 9.72% (FY25: 11.13%)

Key Financial Position (as at 31st March 2026)

Total Assets: ₹51,665.97 lakhs (FY25: ₹47,718.71 lakhs)

Total Equity: ₹24,492.59 lakhs (FY25: ₹23,262.48 lakhs)

Borrowings: ₹10,290.01 lakhs (₹102.90 crore), with non-current borrowings increasing to ₹4,193.42 lakhs from ₹2,760.27 lakhs

Cash & Cash Equivalents: ₹1,235.74 lakhs (significant improvement from ₹85.73 lakhs in FY25)

Capital Work-in-Progress: ₹4,102.91 lakhs (₹41.03 crore), up substantially from ₹1,270.25 lakhs, indicating ongoing expansion

Operational and Cost Structure

Cost of Materials Consumed: ₹72,093.50 lakhs, up 33.1% YoY, reflecting input cost inflation pressures

Employee Benefits Expense: ₹2,356.82 lakhs

Finance Costs: ₹1,230.53 lakhs

Inventory Turnover Ratio: Improved to 5.72 from 4.57

Trade Receivables Turnover Ratio: 9.43 (FY25: 8.86)

Net Profit Ratio: Declined to 1.48% from 2.27%

Capital Structure and Corporate Actions

Equity Share Capital: ₹847.23 lakhs (8,464,995 shares of ₹10 each)

ESOP Activity: 6,500 shares allotted during FY26 under Employee Stock Option Plan 2024

Dividend Recommended: ₹1.00 per share (total payout ₹84.70 lakhs), subject to shareholder approval at AGM

Borrowing Limits: Proposal to enhance borrowing limits to ₹350 crores at upcoming AGM

Foreign Currency and Risk Exposure

Net Foreign Currency Monetary Liability (Unhedged): -₹2,532.90 lakhs (USD -26.71 million)

Foreign Exchange Sensitivity: 1% USD movement impacts PBT by ₹25.33 lakhs

Interest Rate Sensitivity: 50 bps change impacts PBT by ₹39.92 lakhs

Regulatory and Compliance Matters

Environmental Compensation: Paid ₹17.40 lakhs as directed by Pollution Control Committee for non-compliance with environmental standards

Credit Rating: Downgraded to CARE BBB+ Stable (from CARE A- Stable) for long-term bank facilities and CARE BBB Stable for preference shares

Auditor's Report: Unmodified opinion on consolidated financial statements but qualifications in CARO reports for both holding company (Clause 3(vii)(a) - maintenance of cost records) and subsidiary (Clause 3(xvii) - cash losses)

CSR Expenditure: ₹43.06 lakhs incurred against required ₹45.25 lakhs, focused on animal welfare and healthcare

Subsidiary Information

Aarti HPC Limited: Wholly-owned subsidiary reported loss of ₹33.62 lakhs for FY 2025-26, yet to commence operations

Total Investment in Subsidiary: ₹590.53 lakhs

Forward-looking Guidance and Outlook

Management remains "cautiously optimistic" for FY 2027 with expectations of gradual recovery in India. Focus on maintaining operational agility, ensuring supply continuity, and leveraging emerging opportunities. Continued emphasis on product quality, customer relationships, and operational efficiency.

Corporate Governance

Board comprises 8 directors (2 executive, 3 non-executive non-independent, 3 independent). All mandatory committees constituted and functional. No instances of fraud reported under vigil mechanism. Compliance with all corporate governance requirements.

AGM Details

8th Annual General Meeting: Scheduled for September 29, 2026 at 4:00 PM IST

Record Date: September 22, 2026

Agenda Items: Adoption of financial statements, dividend declaration, director reappointments, borrowing limits enhancement