Atharva Poly-Plast H1 FY27 Net Profit ₹438.09 Lakhs

Board Meeting Details

The Board of Directors meeting was held on Monday, 2nd November, 2026, commencing at 4:00 p.m. and concluding at 4:45 p.m.

Key Business Transacted

1. Financial Results Approval

The Board considered and approved the Unaudited Financial Results of the Company for the half year ended 30th September, 2026, along with:

Statement of Assets and Liabilities
Cash Flow Statement
Limited Review Report issued by the Statutory Auditors (PRASS & Associates LLP)

2. IPO Proceeds Utilization Statement

The Board reviewed and took on record the Statement of utilization of the proceeds of the Initial Public Offering (IPO) during the half year ended 30th September, 2026, as reviewed by the Audit Committee, pursuant to Regulation 32 of the Listing Regulations.

3. Statutory Auditors' Certificates

The Board took on record certificates issued by the Statutory Auditors on:

(i) utilisation of the proceeds raised through the public issue pursuant to Regulation 262(5) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018
(ii) utilisation of the proceeds towards working capital requirements pursuant to Regulation 262(6) of the said Regulations

4. Related Party Transactions

The Board noted the related party transactions for the half year ended 30th September, 2026, as reviewed by the Audit Committee, with disclosure pursuant to Regulation 23(9) of the Listing Regulations.

Financial Results Summary (₹ in Lakhs)

Income Statement - Half Year Ended 30th September 2026

Revenue from Operations: ₹3,669.41
Other Income: ₹172.85
Total Income: ₹3,842.26
Cost of materials consumed: ₹2,776.00
Changes in inventories: ₹(7.90)
Employee benefits expense: ₹82.39
Finance costs: ₹86.16
Depreciation and amortization expense: ₹92.08
Other expenses: ₹247.11
Total expenses: ₹3,275.84
Profit from operations before exceptional items: ₹566.42
Exceptional Items: ₹0.00
Profit before tax: ₹566.42
Tax expense: ₹128.33 (Current tax: ₹114.81, Deferred tax: ₹13.52)
Profit for the period: ₹438.09

Comparative Financials

Half Year Ended 30-Sep-26 (Unaudited) vs 30-Sep-25 (Unaudited) vs 31-Mar-26 (Audited)

Revenue from Operations: ₹3,669.41 vs ₹2,067.06 vs ₹5,439.43
Total Income: ₹3,842.26 vs ₹2,211.38 vs ₹5,590.85
Profit before tax: ₹566.42 vs ₹587.70 vs ₹825.24
Profit for the period: ₹438.09 vs ₹471.55 vs ₹646.82

Share Capital and Earnings

Paid-up equity share capital (Face Value of ₹10 each): ₹1,685.00 lakhs (increased from ₹1,235.00 lakhs as of 31-Mar-26)
Earnings per share (Not annualized):
Basic: ₹3.03 (vs ₹3.82 for H1 FY26 and ₹5.24 for FY26)
Diluted: ₹3.03 (vs ₹3.82 for H1 FY26 and ₹5.24 for FY26)

Balance Sheet Position as at 30th September 2026 (₹ in Lakhs)

Equity and Liabilities

Shareholders' funds: ₹4,606.08 (Share capital: ₹1,685.00, Reserves and surplus: ₹2,921.08)
Non-current liabilities: ₹370.62 (Long-term borrowings: ₹298.16, Deferred tax liabilities: ₹58.46, Long-term provisions: ₹14.00)
Current liabilities: ₹1,661.30 (Short-term borrowings: ₹160.72, Trade payables: ₹888.20, Other current liabilities: ₹462.73, Short-term provisions: ₹149.65)
Total: ₹6,638.00

Assets

Non-current assets: ₹3,564.98 (Property, Plant & Equipment: ₹1,827.57, Intangible assets: ₹0.05, Non-Current Investments: ₹0.03, Long-term loans and advances: ₹3.11, Other Non-Current Assets: ₹1,734.22)
Current assets: ₹3,073.02 (Inventories: ₹781.71, Trade receivables: ₹1,204.73, Cash and Bank Balance: ₹543.39, Short-term loans and advances: ₹399.04, Other current assets: ₹144.15)
Total: ₹6,638.00

Cash Flow Statement for Half Year Ended 30 September 2026 (₹ in Lakhs)

Net Cash from operating activities: ₹(1,362.63)
Net Cash used in investing activities: ₹(10.96)
Net Cash generated from financing activities: ₹1,626.54
Net Increase in Cash & Cash Equivalents: ₹272.37
Cash and Cash Equivalents at Beginning: ₹233.38
Cash and Cash Equivalents at End: ₹505.75

IPO Proceeds Utilization Details

Overall Utilization

Proceeds of fresh issue (including issue-related expenses): ₹2,700.00 lakhs
Amount utilized towards objects and issue expenses: ₹2,311.45 lakhs
Unutilized IPO proceeds as at 30 September 2026: ₹388.55 lakhs

Unutilized Proceeds Holding

Fixed deposits with State Bank of India: ₹385.53 lakhs (part of aggregate ₹500.00 lakhs FDs including company's other funds)
Kotak Mahindra Bank escrow account: ₹3.02 lakhs

Object-wise Utilization

1. Funding capital expenditure (Allocation: ₹300.00 lakhs)

Utilized: ₹149.18 lakhs
Unutilized: ₹150.82 lakhs (in SBI fixed deposits)

2. Funding working capital requirements (Allocation: ₹1,300.00 lakhs)

Utilized: ₹1,296.98 lakhs
Unutilized: ₹3.02 lakhs (in Kotak Mahindra escrow account)

3. Prepayment/Repayment of borrowings (Allocation: ₹300.00 lakhs)

Utilized: ₹65.30 lakhs
Unutilized: ₹234.71 lakhs (in SBI fixed deposits)

4. General corporate purposes (Allocation: ₹342.00 lakhs)

Utilized: ₹342.00 lakhs (fully utilized)
Unutilized: ₹0.00 lakhs

5. Issue related expenses (Allocation: ₹458.00 lakhs)

Utilized: ₹458.00 lakhs (fully utilized)
Unutilized: ₹0.00 lakhs

Deviation/Variation Statement

The company confirmed there is no deviation/variation in use of funds raised through IPO. All utilization is as per objects specified in the Prospectus.

Auditors' Certificates

PRASS & Associates LLP issued two certificates:

1. Regulation 262(5) Certificate: Confirming utilization of IPO proceeds towards objects stated in Prospectus

2. Regulation 262(6) Certificate: Certifying working capital position and deployment breakup

Net Working Capital: ₹1,572.44 lakhs
IPO proceeds deployed towards working capital: ₹1,300.00 lakhs (for supply of goods & services)

Related Party Transactions

Total related party transactions value during the period: ₹212.67 lakhs, primarily comprising:

Remuneration to KMPs (Key Managerial Personnel)
Sales to enterprises under common control
Short-term borrowings from relatives of KMPs

Additional Information

Accounting Standards

The company is exempt from adopting Indian Accounting Standards (Ind AS) as per MCA Notification dated February 16, 2015, for companies listed on SME Exchange.

Business Segments

The company has a single reportable business segment, hence segment-wise reporting is not applicable.

IPO Details

The company issued 45 lakh equity shares of ₹10 each at a premium of ₹50 per share through IPO, listed on BSE SME Platform on July 7, 2026.

Trading Window Closure

The trading window for dealing in the company's securities remains closed until 48 hours after the conclusion of the board meeting.

Result Availability

The unaudited financial results are available on the company's website (www.atharvapolyplast.in) and BSE website (www.bseindia.com).