Financial Results Overview

The financial statements show significant growth in the company's financial position:

  • Share capital increased from ₹764.81 lakhs (March 2025) to ₹1,047.81 lakhs (March 2026)
  • Reserves and surplus grew substantially from ₹853.05 lakhs to ₹2,452.73 lakhs
  • Total assets/liabilities increased from ₹1,955.64 lakhs to ₹3,955.04 lakhs
  • Property, plant and equipment increased from ₹107.53 lakhs to ₹234.25 lakhs
  • Non-current investments grew significantly from ₹15.85 lakhs to ₹1,770.89 lakhs
  • Trade receivables stood at ₹1,049.67 lakhs (March 2026) compared to ₹868.83 lakhs (March 2025)
  • Cash and bank balances decreased from ₹690.66 lakhs to ₹372.32 lakhs

Cash Flow Statement

For the year ended March 31, 2026:

  • Net cash from operating activities: ₹350.94 lakhs
  • Net cash used in investing activities: ₹(1,973.89) lakhs
  • Net cash from financing activities: ₹1,328.51 lakhs
  • Net decrease in cash and cash equivalents: ₹(294.49) lakhs

Legal Proceedings - CCI Penalty Matter

The company is involved in legal proceedings with the Competition Commission of India (CCI). Key details:

  • CCI imposed penalty of ₹44.26 lakhs on the company for alleged contravention of Sections 3(1), 3(3)(c) and 3(3)(d) of the Competition Act, 2002
  • The penalty relates to bid rigging allegations in soil sampling tests tender issued by Department of Agriculture, Government of Uttar Pradesh in 2018
  • Company appealed to NCLAT, which dismissed the appeal on September 25, 2025
  • Company has further appealed to the Supreme Court of India
  • Based on legal advice, no provision has been made in financial statements as management expects favorable outcome

IPO and Fund Utilization

The company completed an IPO and listing on BSE SME Platform:

  • Issued 28,30,000 equity shares at ₹55 per share (including premium of ₹45 per share)
  • Total proceeds: ₹1,556.50 lakhs
  • IPO related expenses: ₹156.80 lakhs adjusted against Security Premium Account
  • Fund utilization as of March 31, 2026:
  • Working capital requirement: ₹0.00 utilized out of ₹1,160.00 lakhs allocated
  • General corporate purposes: ₹17.24 lakhs utilized out of ₹239.70 lakhs allocated
  • Issue related expenses: ₹156.80 lakhs fully utilized
  • Total utilized: ₹174.04 lakhs
  • Balance available in banks (FD account): ₹1,382.46 lakhs
  • No deviation/variation in utilization of IPO proceeds

Dividend Declaration

The company declared an interim dividend of ₹0.20 per share on February 11, 2026.

Business Segment Information

The company operates in a single business segment of IT services with geographical operations mainly from Gurugram and Pune.