Board Meeting Outcomes

The Board meeting commenced at 09:30 PM (IST) on November 03, 2026 and concluded at 12:50 AM (IST) on November 04, 2026. The Board considered and approved:

1. The Unaudited Standalone and Consolidated Financial Results for the Quarter and Half year ended September 30, 2026, along with the Limited Review Report issued by M/s. Mehra Goel & Co. LLP, Statutory Auditors of the Company.

2. Keeping in abeyance the proposed Scheme of Amalgamation (Merger by Absorption) between DC&T Global Private Limited (Transferor Company) and Belding India Limited (Transferee Company) and their respective Shareholders and Creditors.

Standalone Financial Results (₹ lakhs)

Quarter Ended September 30, 2026:

  • Total Income: ₹33.97
  • Total Expenses: ₹122.45
  • Loss Before Tax: (₹88.48)
  • Tax Expense: (₹26.13) [Deferred tax]
  • Loss for the Period from Continuing Operations: (₹62.35)
  • Loss from Discontinued Operations: ₹0
  • Total Comprehensive Loss: (₹62.35)
  • Basic EPS from Continuing Operations: (₹0.43)
  • Paid-up Equity Share Capital: ₹1,447.88

Half Year Ended September 30, 2026:

  • Total Income: ₹44.84
  • Total Expenses: ₹151.61
  • Loss Before Tax: (₹106.77)
  • Tax Expense: (₹26.21) [Deferred tax]
  • Loss for the Period from Continuing Operations: (₹80.56)
  • Profit from Discontinued Operations: ₹0
  • Total Comprehensive Loss: (₹80.56)
  • Basic EPS from Continuing Operations: (₹0.56)

Standalone Balance Sheet (as at September 30, 2026, ₹ lakhs)

  • Total Assets: ₹1,07,904.93
  • Non-Current Assets: ₹1,07,753.57 (including Investments: ₹1,05,873.38, Loans: ₹1,736.43)
  • Current Assets: ₹151.36 (including Cash & Cash Equivalents: ₹3.45)
  • Total Equity: ₹1,05,097.29
  • Equity Share Capital: ₹1,447.88
  • Other Equity: ₹1,03,649.41
  • Total Liabilities: ₹2,807.64
  • Non-Current Liabilities: ₹2,619.75 (including Borrowings: ₹2,617.86)
  • Current Liabilities: ₹187.89 (including Trade Payables: ₹153.46)

Standalone Cash Flows (Half Year Ended September 30, 2026, ₹ lakhs)

  • Net Cash Used in Operating Activities: (₹216.72)
  • Net Cash Used in Investing Activities: (₹2,237.00)
  • Net Cash from Financing Activities: ₹2,452.72
  • Net Decrease in Cash & Equivalents: (₹1.01)
  • Cash & Equivalents at End: ₹3.45

Consolidated Financial Results (₹ lakhs)

Quarter Ended September 30, 2026:

  • Total Income: ₹867.78
  • Total Expenses: ₹1,734.26
  • Loss Before Tax: (₹866.48)
  • Tax Expense: (₹311.33) [Deferred tax]
  • Loss for the Period from Continuing Operations: (₹555.15)
  • Loss Attributable to Owners: (₹527.08)
  • Loss Attributable to Non-Controlling Interest: (₹28.07)
  • Basic EPS from Continuing Operations: (₹3.64)
  • Paid-up Equity Share Capital: ₹1,447.88

Half Year Ended September 30, 2026:

  • Total Income: ₹1,136.89
  • Total Expenses: ₹2,410.27
  • Loss Before Tax: (₹1,273.38)
  • Tax Expense: (₹305.31) [Deferred tax]
  • Loss for the Period from Continuing Operations: (₹968.07)
  • Loss Attributable to Owners: (₹846.94)
  • Loss Attributable to Non-Controlling Interest: (₹121.13)
  • Basic EPS from Continuing Operations: (₹5.85)

Consolidated Balance Sheet (as at September 30, 2026, ₹ lakhs)

  • Total Assets: ₹1,13,018.25
  • Non-Current Assets: ₹96,981.27 (including Property, Plant & Equipment: ₹25,558.96, Goodwill: ₹60,437.96, Right-of-use assets: ₹4,824.23)
  • Current Assets: ₹16,036.98 (including Inventories: ₹1,078.54, Trade Receivables: ₹1,114.88, Cash & Cash Equivalents: ₹2,322.22)
  • Total Equity: ₹1,03,876.01
  • Equity Attributable to Owners: ₹1,04,088.64
  • Non-Controlling Interest: (₹212.63)
  • Total Liabilities: ₹9,142.24
  • Non-Current Liabilities: ₹3,284.19 (including Borrowings: ₹601.02, Lease Liabilities: ₹2,109.56)
  • Current Liabilities: ₹5,858.05 (including Borrowings: ₹3,034.83, Trade Payables: ₹1,098.41)

Consolidated Cash Flows (Half Year Ended September 30, 2026, ₹ lakhs)

  • Net Cash Used in Operating Activities: (₹3,288.30)
  • Net Cash from Investing Activities: ₹5,657.66
  • Net Cash Used in Financing Activities: (₹157.26)
  • Net Increase in Cash & Equivalents: ₹2,212.11
  • Cash & Equivalents at End: ₹2,322.22

Key Notes to Financial Results

1. The financial results were reviewed by the Audit Committee and approved by the Board, and subjected to limited review by Statutory Auditors.

2. Prepared in accordance with Ind AS 34 and compliance with Regulation 33 of SEBI Listing Regulations.

3. No reportable segment information in accordance with Ind AS 108.

4. During FY 2025-2026, the Company discontinued its foils manufacturing operations, classified as discontinued operations under Ind AS 105.

5. During the quarter ended September 30, 2026, the Company acquired 100% equity stake in Evolve IT Solutions Private Limited, making it a wholly-owned subsidiary.

6. The consolidated results include subsidiaries: DC&T Global Private Limited, DC&T Defence Limited, BESS Limited, Metafin Technology Private Limited, Belding HD India Private Limited (w.e.f. 22.06.2026), and Evolve IT Solutions Private Limited (w.e.f. 23.07.2026).

7. Evolve IT Solutions has complied with all applicable Ind AS except Ind AS 116 'Leases', for which management is assessing applicability.

8. Previous period/year figures have been regrouped/rearranged/reclassified wherever necessary.

Auditor's Qualification

Mehra Goel & Co. LLP issued a qualified conclusion stating that confirmation and reconciliation of vendors, intercorporate deposits, loans and advances balances outstanding at the end of the current reporting period are under process. This qualification was also present in the audit report for the year ended March 31, 2026.