Board Meeting Details

The Board of Directors meeting was held on Saturday, May 30, 2026, commencing at 12:00 PM and concluding at 4:00 PM.

Key Business Approved

1. Approval of Financial Statements: The Board approved the Audited Financial Statements (Standalone and Consolidated) for the financial year ended March 31, 2026, and the Audited Financial Results (Standalone and Consolidated) for the Half Year and Year ended March 31, 2026.

2. Board's Report: The Board approved the Board's Report for the year ended March 31, 2026.

3. Cost Auditor Appointment: The Board appointed M/s. SVM & Associates, Cost Accountants (Firm Registration No. 000536), as the Cost Auditor of the Company for the financial year 2026-27. The appointment is to comply with Section 148 of the Companies Act 2013 and Rule 14 of Companies (Audit and Auditors) Rules, 2014. The remuneration was fixed, and a brief profile was enclosed as Annexure-1.

4. Subsidiary Formation: The Board approved the formation of a Subsidiary Company to carry out "Electro Luminescent Dynamic Display Boards and similar Products."

Financial Results Overview

Standalone Financial Results (₹ in Lakhs)

Income Statement:

  • Revenue from Operations: FY26: ₹31,959.76; H2 FY26: ₹22,906.16; H1 FY26: ₹9,053.60
  • Total Income: FY26: ₹32,007.20; H2 FY26: ₹22,909.33; H1 FY26: ₹9,097.87
  • Profit Before Tax: FY26: ₹5,267.69; H2 FY26: ₹3,617.81; H1 FY26: ₹1,649.88
  • Tax Expense: FY26: ₹1,352.47; H2 FY26: ₹911.31; H1 FY26: ₹441.16
  • Profit for the Year: FY26: ₹3,915.22; H2 FY26: ₹2,706.50; H1 FY26: ₹1,208.72
  • Earnings Per Share (Basic & Diluted): FY26: ₹18.67; H2 FY26: ₹22.52; H1 FY26: ₹13.40

Balance Sheet (as at March 31, 2026):

  • Share Capital: ₹2,397.00 Lakhs (vs. ₹1,746.30 Lakhs in FY25)
  • Reserves & Surplus: ₹21,280.80 Lakhs (vs. ₹9,129.08 Lakhs in FY25)
  • Total Assets: ₹40,100.25 Lakhs (vs. ₹25,575.84 Lakhs in FY25)
  • Inventories: ₹7,240.00 Lakhs (vs. ₹6,243.89 Lakhs in FY25)
  • Trade Receivables: ₹21,401.59 Lakhs (vs. ₹12,760.05 Lakhs in FY25)
  • Cash and Bank Balance: ₹1,307.55 Lakhs (vs. ₹391.54 Lakhs in FY25)

Consolidated Financial Results (₹ in Lakhs)

The consolidated results include the Company and its subsidiary Sree Dakssnaa Aerospace and Defence India Private Limited.

  • Revenue from Operations: FY26: ₹31,959.76; H2 FY26: ₹22,906.16; H1 FY26: ₹9,053.60
  • Profit for the Year before Minority Interest: FY26: ₹3,914.70
  • Minority Interest: FY26: ₹0.11
  • Profit for the Period: FY26: ₹3,914.81
  • Earnings Per Share (Basic & Diluted): FY26: ₹18.66; H2 FY26: ₹22.52; H1 FY26: ₹13.40

IPO Proceeds Utilization

IPO Details:

  • Issue Period: September 11, 2025 to September 15, 2025
  • Type: Public Issue (Equity Shares)
  • Issue Size: ₹9,109.80 Lakhs
  • Listing: BSE-SME platform on September 18, 2025

Utilization as of March 31, 2026:

  • Working Capital: Allocated ₹5,927.02 Lakhs, Utilized ₹5,927.02 Lakhs
  • Capex: Allocated ₹1,367.78 Lakhs, Utilized ₹291.08 Lakhs, Balance ₹1,076.70 Lakhs
  • Repayment of Loan: Allocated ₹600.00 Lakhs, Utilized ₹600.00 Lakhs
  • General Corporate Purposes: Allocated ₹990.00 Lakhs, Utilized ₹990.00 Lakhs
  • IPO Expenses: Allocated ₹225.00 Lakhs, Utilized ₹207.08 Lakhs, Balance ₹17.92 Lakhs
  • Total Net Proceeds: ₹8,884.80 Lakhs, Utilized ₹8,015.18 Lakhs, Unutilized ₹1,094.62 Lakhs

Deployment of Unutilized Proceeds (₹1,076.70 Lakhs):

  • Monitoring Agency Account (Axis Bank): ₹374.11 Lakhs
  • Public Issue Account (Axis Bank): ₹2.59 Lakhs
  • Fixed Deposits (Axis Bank, 3% return, maturity April 6, 2026): ₹700.00 Lakhs
  • Total Market Value: ₹1,087.10 Lakhs (including earnings)

Delay in Capex Implementation:

The delay in completing capital expenditure items is due to recent policy changes by the Chinese Government and market conditions affecting supplier capacity. The company expects to complete purchases by end of Fiscal 2027.

Additional Information

  • The company is exempt from adopting Ind AS as it is listed on the SME Exchange.
  • Figures for the half year ended March 31, 2025, are balancing figures between audited full-year figures and published year-to-date figures.
  • Trade payables, loans, advances, and other current liabilities are subject to confirmation and reconciliation.
  • There were no exceptional or extraordinary items for the reporting period.
  • The financial results are available on BSE's website (www.bseindia.com) and the company's website (www.airflow.co.in).