Financial Results (Standalone)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹17,413.94 million
  • Other Income: ₹40.09 million
  • Total Income: ₹17,454.03 million
  • Profit Before Tax: ₹2,800.06 million
  • Tax Expense: ₹735.13 million (Current tax: ₹662.72 million, Deferred tax: ₹72.41 million)
  • Profit After Tax: ₹2,064.93 million
  • Basic & Diluted EPS: ₹17.44

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹31,399.86 million
  • Other Income: ₹135.44 million
  • Total Income: ₹31,535.30 million
  • Profit Before Tax: ₹4,687.42 million
  • Tax Expense: ₹1,213.57 million (Current tax: ₹1,189.59 million, Deferred tax: ₹23.98 million)
  • Profit After Tax: ₹3,473.85 million
  • Basic & Diluted EPS: ₹29.41

Balance Sheet (Standalone as of September 30, 2026):

  • Total Assets: ₹46,938.01 million
  • Inventories: ₹6,234.75 million
  • Trade Receivables: ₹16,508.10 million
  • Cash & Cash Equivalents: ₹14,242.55 million
  • Bank Balances (other): ₹2,203.61 million
  • Total Equity: ₹34,516.55 million
  • Borrowings: ₹2,866.78 million (Current: ₹2,572.27 million, Non-current: ₹294.51 million)

Financial Results (Consolidated)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹17,459.88 million
  • Other Income: ₹39.23 million
  • Total Income: ₹17,499.11 million
  • Profit Before Tax: ₹2,518.64 million (after exceptional item of ₹343.73 million)
  • Tax Expense: ₹663.57 million
  • Profit After Tax: ₹1,855.07 million
  • Basic & Diluted EPS: ₹15.67

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹31,484.07 million
  • Other Income: ₹80.34 million
  • Total Income: ₹31,564.41 million
  • Profit Before Tax: ₹4,424.96 million
  • Tax Expense: ₹1,147.89 million
  • Profit After Tax: ₹3,277.07 million
  • Basic & Diluted EPS: ₹27.75

Exceptional Item: Fire incident at AIL Dixon Technologies resulting in loss of ₹343.73 million.

Acquisition of Stake in KGraph AI Solutions Private Limited

The Board approved acquisition of 30% stake in KGraph AI Solutions Private Limited on fully diluted basis for aggregate cash consideration of ₹45,38,85,993.60 (₹453.89 million).

Target Company Details:

  • Issued and paid-up share capital: ₹1,15,950 (10,000 equity shares of ₹10 each and 1,595 preference shares of ₹10 each)
  • FY 2025-26 Audited Turnover: ₹79,97,836.6
  • Business: AI-powered software solutions for compliance, automation, safety, monitoring and regulatory reporting
  • Principal product: 'BLUE' enterprise video-analytics platform

Transaction Details:

  • Acquisition of 5,798 securities comprising: 1,031 equity shares, 515 Series 1 CCPS, and 4,252 Series 2 CCPS
  • Not a related party transaction
  • Strategic investment for commercial and technology collaboration
  • Expected completion within 30 days from execution of Share Subscription and Share Purchase Agreement (SSPA)
  • Executed SSPA and Shareholders' Agreement with Target Company, its promoters and certain existing selling shareholders

QIP Utilization

Company completed QIP offer of 43,26,507 equity shares at issue price of ₹3,467 per share (including premium of ₹3,466 per share), aggregating to ₹15,000 million on September 25, 2026.

Utilization Plan:

  • Prepayment/repayment of borrowings: ₹3,250.00 million (pending utilization)
  • Capital expenditure through investments in AIL Dixon: ₹6,500.00 million (pending utilization)
  • Funding inorganic growth and general corporate purposes: ₹4,904.99 million (pending utilization)
  • Total pending utilization: ₹14,654.99 million

Contingent Liabilities

Customs Duty Demand:

  • Show Cause Notice dated March 30, 2025 proposing demand of ₹103.29 million
  • Commissioner of Customs order dated January 13, 2026 raising demand for differential custom duty of ₹103.29 million plus penalties aggregating ₹308.58 million (excluding interest)
  • Company filed appeal before CESTAT on April 7, 2026 (pending listing and disposal)
  • ₹60.00 million deposited under protest in earlier years
  • Management believes denial of exemption is untenable and has high chances of success

Land Development Issue:

  • Noida Authority land at Sector 135, Noida: Construction not completed by prescribed deadline of December 31, 2024
  • Application for extension filed on October 12, 2024 (pending disposal)
  • Application for completion certificate filed on December 30, 2025
  • Company filed appeal u/s 41(3) of UP Industrial Area Development Act on October 22, 2026 (pending disposal)
  • Development activities completed and capitalized at ₹861.75 million
  • Management confident of receiving necessary approvals

Subsequent Events

On October 30, 2026, company allotted 48,100 equity shares to eligible employees upon exercise of options under Employee Stock Option Plan 2024. Paid-up equity share capital increased from ₹122.63 million (122,626,942 shares) to ₹122.68 million (122,675,042 shares).

Auditor's Review

Walker Chandiok & Co LLP issued unmodified limited review reports for both standalone and consolidated financial results. For consolidated results, they relied on review reports of other auditors for three subsidiaries representing total assets of ₹21,209.11 million and revenues of ₹12,161.03 million for the quarter.