Board Meeting Details

The Board Meeting commenced at 4:00 PM IST and concluded at 6:00 PM IST on 26th May, 2026.

Key Decisions Approved

1. Audited Financial Results: Approved audited financial results for the half year and year ended March 31, 2026, along with Auditor's Report.

2. Internal Auditor Appointment: Appointed M/s Mittal & Associates, Chartered Accountants (Firm Registration No. 106456W) as internal auditors for FY 2026-27. The firm has 48 years of experience with 10 partners and operational presence in Maharashtra and Rajasthan.

3. Director Reappointment: Recommended reappointment of Ms. Jeny Vinod Kumar Gowadia (DIN: 03014009) as Non-Executive and Independent Director for five years from FY2026-2027, subject to shareholder approval at the ensuing AGM.

4. Related Party Transactions: Approved related party transactions for the half year ended March 31, 2026.

Financial Performance Highlights (₹ in Lakhs)

Income Statement Highlights:

  • Revenue from Operations: FY26: ₹6,284.38; H2 FY26: ₹3,341.58; H1 FY26: ₹2,942.80
  • Other Income: FY26: ₹200.54; H2 FY26: ₹156.32; H1 FY26: ₹44.23
  • Total Income: FY26: ₹6,304.43; H2 FY26: ₹3,357.21; H1 FY26: ₹2,947.22
  • Net Profit: FY26: ₹1,356.41 (139% increase from FY25: ₹567.05); H2 FY26: ₹929.98; H1 FY26: ₹426.43
  • EPS: Basic FY26: ₹6.66; Diluted FY26: ₹6.66

Balance Sheet Highlights (as of March 31, 2026):

  • Total Assets: ₹23,397.45 lakhs
  • Current Assets: ₹22,048.33 lakhs (including Cash & Bank: ₹9,776.73 lakhs, Inventories: ₹6,142.13 lakhs, Trade Receivables: ₹5,388.50 lakhs)
  • Non-Current Assets: ₹1,349.11 lakhs
  • Total Liabilities: ₹23,397.45 lakhs
  • Equity Share Capital: ₹2,037.00 lakhs (Face value ₹10 per share)

Cash Flow Highlights (FY26):

  • Cash from Operations: ₹1,540.10 lakhs
  • Cash from Investing: ₹131.27 lakhs
  • Cash from Financing: ₹5,445.19 lakhs (primarily from IPO proceeds)
  • Net Increase in Cash: ₹7,116.56 lakhs
  • Ending Cash Balance: ₹9,776.73 lakhs

IPO Details and Fund Utilization

The company completed its IPO on 30th September 2025, issuing 45,00,000 equity shares of face value ₹10 each at an issue price of ₹140 per share (including premium of ₹130 per share), aggregating to ₹6,300 lakhs.

IPO Proceeds Utilization (as of March 31, 2026):

  • Gross Proceeds: ₹6,300 lakhs
  • Issue Expenses: ₹840 lakhs
  • Net Proceeds: ₹5,460.18 lakhs
  • Working Capital Requirement: Allocated ₹4,750 lakhs, Utilized ₹4,750 lakhs
  • General Corporate Purpose: Allocated ₹710.18 lakhs, Utilized ₹710.18 lakhs
  • Total Utilization: ₹5,460.18 lakhs (100% of net proceeds)

The company certified that there was no deviation or variation in the utilization of IPO proceeds from the objects stated in the prospectus dated September 18, 2025.

Foreign Currency Exposure

  • Foreign Currency Assets: ₹777.04 lakhs
  • Foreign Currency Liabilities: ₹6,383 lakhs
  • The company manages currency risk through natural hedges and periodic management review

Business Segment

The company is engaged in a single business segment: Trading of Polymers.

Additional Information

  • Previous period figures have been regrouped or reclassified where necessary
  • Financial results are available on the company's website: www.bhavikenterprises.com
  • The company is ISO 9001:2015 certified