Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended September 30, 2026 (Q2 FY26)

Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 33 and 30 of SEBI LODR

Audit Opinion:

The Statutory Auditors, B S R & Co. LLP, issued an unmodified limited review report for both standalone and consolidated financial results.

Key Financial Highlights [₹ in Millions]

Standalone Results:

Quarter ended September 30, 2026:

  • Revenue from Operations: ₹355.46 (QoQ: ↓ from ₹385.22; YoY: ↑ from ₹278.23)
  • Total Income: ₹458.59
  • Net Profit: ₹17.91 (QoQ: ↓ from ₹40.66; YoY: ↑ from ₹1.68)
  • EPS: ₹0.03 (Basic and Diluted)

Half Year ended September 30, 2026:

  • Revenue from Operations: ₹740.68 (YoY: ↑ from ₹562.54)
  • Total Income: ₹937.11
  • Net Profit: ₹58.57 (YoY: ↑ from ₹40.17)
  • EPS: ₹0.09 (Basic and Diluted)

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

  • Total Assets: ₹20,516.21
  • Cash and Cash Equivalents: ₹712.48 (↓ from ₹998.82 on March 31, 2026)
  • Total Equity: ₹18,757.57
  • Borrowings (Current + Non-current): ₹300.00 (₹264.04 Current + ₹35.94 Non-current)

Consolidated Results:

Quarter ended September 30, 2026:

  • Revenue from Operations: ₹4,090.79 (QoQ: ↑ from ₹3,955.45; YoY: ↑ from ₹2,815.90)
  • Total Income: ₹4,196.92
  • Net Loss: ₹(523.92) (QoQ: ↓ from loss of ₹(532.28); YoY: ↓ from loss of ₹(205.93))
  • EPS: ₹(0.80) (Basic and Diluted)

Half Year ended September 30, 2026:

  • Revenue from Operations: ₹8,046.24 (YoY: ↑ from ₹5,371.59)
  • Total Income: ₹8,219.59
  • Net Loss: ₹(1,056.20) (YoY: ↓ from loss of ₹(169.77))
  • EPS: ₹(1.61) (Basic and Diluted)

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

  • Total Assets: ₹27,739.36
  • Cash and Cash Equivalents: ₹1,709.70 (↓ from ₹3,014.89 on March 31, 2026)
  • Total Equity: ₹13,921.31
  • Borrowings (Current + Non-current): ₹5,641.24 (₹2,802.96 Current + ₹2,838.28 Non-current)

Segment-wise Performance:

The Group operates in two reportable segments: Aerospace and Consumer.

Quarter ended September 30, 2026:

  • Aerospace Segment Revenue: ₹3,514.11 | Segment Result: ₹783.24
  • Consumer Segment Revenue: ₹576.68 | Segment Result: ₹(401.41)
  • Total External Revenue: ₹4,090.79

Half Year ended September 30, 2026:

  • Aerospace Segment Revenue: ₹6,735.70 | Segment Result: ₹1,513.84
  • Consumer Segment Revenue: ₹1,310.54 | Segment Result: ₹(762.85)
  • Total External Revenue: ₹8,046.24

The Consumer segment is the primary driver of the consolidated losses.

Corporate Actions:

  • Preferential Issue: On September 25, 2026, the Board approved a preferential issue of up to 28,071,690 warrants to Melligeri Private Family Foundation (a Promoter) for an aggregate consideration of ₹6,500 million. Shareholders approved this at the EGM on October 22, 2026. Warrants are convertible into equity shares on or before December 31, 2027.
  • Dividend: Not Specified
  • Buyback/Stock Split: Not Specified

Other Significant Information:

  • Impairment Reversal: During FY26, the Company reversed a past impairment of ₹234.39 million on its investment in joint venture SQuAD Forging India Private Limited due to improved business performance.
  • Entities in Consolidation: The consolidated results include numerous subsidiaries, joint ventures, and an associate. A key subsidiary, whose interim financial information was reviewed by another auditor, contributed assets of ₹1,293.62 million and a net loss of ₹30.81 million for Q2 FY26.
  • Cash Flow: Standalone operations reported net cash used in operating activities of ₹(267.84) million for H1 FY26. Consolidated operations reported net cash used in operating activities of ₹(808.31) million for the same period.