Board Meeting Outcomes

The Board of Directors meeting, held on 15th July 2026 from 14:30 Hrs to 16:31 Hrs (IST), approved the following items:

1. The Un-Audited Financial Results (UFR) for the first quarter ended 30th June 2026, along with the Statutory Auditors' Limited Review Report.

2. The Cost Audit Report for the financial year ended 31st March 2026.

3. The notice convening the 47th Annual General Meeting (AGM) of the Company along with the Board's Report for the financial year ended 31st March 2026.

The date for the 47th AGM, to be held through Video Conference (VC) / Other Audio-Visual Means (OAVM), and the corresponding book closure dates will be communicated separately.

Unaudited Financial Results (Q1 FY2027)

The financial results are presented in ₹ Lakhs.

Income Statement Highlights (Quarter ended 30 June 2026):

  • Revenue from operations: ₹2,613.28 Lakhs (Q1 FY2026: ₹4,474.49 Lakhs; Q4 FY2026: ₹3,875.10 Lakhs)
  • Other income: ₹41.45 Lakhs (Q1 FY2026: ₹0.81 Lakhs; Q4 FY2026: ₹4.02 Lakhs)
  • Total income: ₹2,654.73 Lakhs (Q1 FY2026: ₹4,475.30 Lakhs; Q4 FY2026: ₹3,879.12 Lakhs)
  • Total expenses: ₹2,731.76 Lakhs (Q1 FY2026: ₹4,428.63 Lakhs; Q4 FY2026: ₹3,549.60 Lakhs)
  • Cost of materials consumed: ₹652.91 Lakhs
  • Project execution expenses: ₹1,064.86 Lakhs
  • Employee benefits expense: ₹484.42 Lakhs
  • Finance costs: ₹174.75 Lakhs
  • Profit/(loss) before tax: (₹77.03) Lakhs (Loss) (Q1 FY2026: Profit of ₹46.67 Lakhs; Q4 FY2026: Profit of ₹329.52 Lakhs)
  • Tax Expense: Deferred tax credit of ₹36.30 Lakhs
  • Profit/(loss) for the period: (₹40.73) Lakhs (Net Loss) (Q1 FY2026: Net Profit of ₹21.59 Lakhs; Q4 FY2026: Net Profit of ₹335.60 Lakhs)
  • Total comprehensive income: (₹40.21) Lakhs
  • Earnings/(loss) per share (Basic and Diluted): (₹0.11) (Q1 FY2026: ₹0.06; Q4 FY2026: ₹0.91)

Balance Sheet & Capital Structure (As of 30 June 2026):

  • Paid-up equity share capital: ₹369.20 Lakhs (3,69,20,000 equity shares of ₹1 each)
  • The company notes it has significant accumulated losses as of 30 June 2026.

Notes to Financial Results

1. The financial results were reviewed by the Audit Committee and approved by the Board on 15 July 2026.

2. The Company operates in a single business segment: "Supply of equipments, steel structures and site services of mechanical works."

3. Going Concern Assessment: The Management and Board of Directors have assessed the Company's ability to continue as a going concern. Despite significant accumulated losses, they conclude the Company can meet its cash flow requirements for the next twelve months based on:

  • A letter of support from its holding company, Tata Projects Limited, to provide adequate business, financial, and operational support.
  • A review of the approved business plan and future cash flow projections.

The financial statements are prepared on a going concern basis.

4. Joint Venture: The Company has entered into a 'MOU/Joint Venture agreement' with Malabar Cements Limited for the formation of 'Artson - MCL Joint Venture', an unincorporated business operation. No transactions in this joint venture impacted the Q1 FY2027 financial results.

Auditor's Review Report

Price Waterhouse & Co Chartered Accountants LLP issued a limited review report on the unaudited financial results, conducted in accordance with Standard on Review Engagements (SRE) 2410. The report, dated 15th July 2026, states that based on their review, nothing has come to their attention that causes them to believe that the Statement has not been prepared in all material respects in accordance with the applicable Accounting Standards and SEBI LODR requirements, and that it contains no material misstatement. This is an unmodified opinion.

Regulatory Confirmation

A separate declaration confirms that the Statutory Auditors issued the Limited Review Report with an unmodified opinion, and accordingly, the impact of any audit qualification is Nil, as per SEBI Circular No. CIR/CFD/CMD/56/2016 dated May 27, 2016.