Board Meeting Details

The meeting commenced on May 22, 2026, at 11:00 PM IST and concluded on May 23, 2026, at 05:30 AM IST.

Key Approvals

1. Audited Financial Results: Approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, along with the Auditors' Report.

2. Appointment of Chairperson: Mr. Umesh Kumar Sahay, Non-Executive Director, appointed as Chairperson of the Company.

3. Appointment of Independent Director: Mr. Rajesh Chandrakant Vaishnav appointed as Additional Director (Non-Executive Independent) for a first term of 5 years, subject to shareholder approval.

4. Secretarial Auditor: M/s. Mishra & Associates, Practicing Company Secretaries (CP No. 18303) appointed as Secretarial Auditor for 5 financial years (FY2026-27 to FY2030-31), subject to shareholder approval.

5. Internal Auditor: M/s. Dhirubhai Shah & Co LLP, Chartered Accountants (FRN: 102511W/W100298) appointed as Internal Auditor for FY2026-27.

Financial Results Overview (Standalone)

For Year Ended March 31, 2026 (all figures in ₹ lakhs):

  • Total Income: ₹37.90
  • Total Expenses: ₹117.00
  • Loss Before Tax: ₹(79.10)
  • Tax Expense: ₹3.27
  • Loss After Tax from Continuing Operations: ₹(82.37)
  • Profit from Discontinued Operations: ₹245.03
  • Net Profit for Year: ₹162.66
  • Basic EPS: ₹0.38
  • Diluted EPS: ₹0.38
  • Paid-up Equity Share Capital: ₹1,447.88 lakhs (Face Value ₹10 per share)
  • Other Equity: ₹1,03,729.98 lakhs

For Quarter Ended March 31, 2026:

  • Total Income: ₹13.64
  • Total Expenses: ₹36.09
  • Loss Before Tax: ₹(22.45)
  • Loss After Tax: ₹(25.72)
  • Basic EPS: ₹(0.19)
  • Diluted EPS: ₹(0.38)

Balance Sheet (Standalone as at March 31, 2026)

  • Total Assets: ₹1,05,370.45 lakhs
  • Total Liabilities: ₹192.60 lakhs
  • Net Worth: ₹1,05,177.86 lakhs

Cash Flow (Standalone for FY2026)

  • Net Cash from Operating Activities: ₹181.50 lakhs
  • Net Cash Used in Investing Activities: ₹(359.14) lakhs
  • Net Cash Used in Financing Activities: ₹116.67 lakhs
  • Net Decrease in Cash: ₹(59.97) lakhs
  • Cash & Equivalents at Year-End: ₹4.46 lakhs

Auditor's Report - Qualified Opinion

Statutory Auditors Mehra Goel & Co. issued a qualified opinion due to:

  • Non-confirmation and Non-reconciliation of Balances: Unable to obtain sufficient audit evidence for vendor, inter-corporate deposit, loan, and advance balances outstanding at year-end. The impact of any adjustments on financial statements, including EPS and taxation, is not ascertainable.

Statement on Impact of Audit Qualifications

Management stated that the impact of the audit qualification is not quantifiable. They believe no material adjustment is required as balances are considered good and recoverable/payable in the ordinary course of business. This is the first time this qualification has appeared.

Consolidated Financial Results

For Year Ended March 31, 2026:

  • Total Income: ₹579.95 lakhs
  • Total Expenses: ₹420.08 lakhs
  • Profit Before Tax: ₹159.88 lakhs
  • Tax Expense: ₹759.73 lakhs
  • Loss After Tax: ₹(599.85) lakhs
  • Profit from Discontinued Operations: ₹245.02 lakhs
  • Net Loss for Year: ₹(354.83) lakhs
  • Basic EPS: ₹(11.12)
  • Diluted EPS: ₹(11.12)

For Quarter Ended March 31, 2026:

  • Total Income: ₹537.43 lakhs
  • Total Expenses: ₹237.58 lakhs
  • Profit Before Tax: ₹299.85 lakhs
  • Tax Expense: ₹764.76 lakhs
  • Loss After Tax: ₹(464.92) lakhs
  • Basic EPS: ₹(3.21)
  • Diluted EPS: ₹(3.21)

Significant Corporate Developments

1. Name Change: Company name changed from Synthiko Foils Limited to Belding India Limited effective February 23, 2026.

2. Business Discontinuation: Transferred foils manufacturing business during the year. Results presented as discontinued operations.

3. Acquisition of DC&T Global: Acquired 100% of DC&T Global Private Limited on December 24, 2025, via share swap. Issued 1,36,08,849 equity shares at ₹769.16 per share (premium ₹759.16), aggregating ₹1,046.73 crore. Purchase price allocation: Net assets ₹44,975.99 lakhs, Goodwill ₹59,697.01 lakhs.

4. Acquisition of BESS Limited: Acquired 99% paid-up capital (1,00,000 shares) on October 18, 2025.

5. Investment in Metafin: DC&T Global subscribed to 12,223 equity shares (55% stake) of Metafin Technology Private Limited for ₹149.12 lakhs on March 5, 2026.

6. New Subsidiary: Incorporated DC&T Defence Limited as a wholly-owned subsidiary on February 7, 2026.

7. Share Consolidation: Consolidated equity shares from face value ₹5 to ₹10 effective previous quarter (2 shares of ₹5 consolidated into 1 share of ₹10).

Subsidiary Details as of March 31, 2026

1. DC&T Global Private Limited: 100% holding (from December 24, 2025)

2. BESS Limited: 64.10% holding (from October 18, 2025)

3. DC&T Defence Limited: 100% holding (from February 7, 2026)

4. Metafin Technology Private Limited: 55% holding (through DC&T Global from March 5, 2026)

Capital Structure Impact

The acquisition of DC&T Global significantly increased the paid-up capital from ₹87.00 lakhs (8,700,000 shares of ₹10) to ₹1,447.88 lakhs (14,478,849 shares of ₹10) post-consolidation and preferential allotment.