Corrections Made

  • Significant Accounting Policies: Previously omitted policies and explanatory notes incorporated in revised report
  • Financial Statements: Typographical/clerical errors corrected in financial statements
  • Auditor's Report: Relevant facts added to "Other Matter" paragraph of Independent Auditor's Report
  • Availability: Revised Annual Report available on company website (www.billwinindustries.com)

Financial Highlights (₹ Lakhs)

| Particulars | FY 2025-26 | FY 2024-25 | Change |

| Total Revenue | 808.48 | 705.47 | +14.60% |

| Total Expenses | 741.30 | 601.99 | +23.14% |

| Profit Before Tax | 67.18 | 97.13 | -30.84% |

| Tax Expense | 20.42 | 29.18 | -30.02% |

| Net Profit After Tax | 46.76 | 67.94 | -31.20% |

| Basic EPS (₹) | 1.12 | 1.77 | -36.72% |

Key Financial Position (as of 31-Mar-2026)

  • Total Assets: ₹1,858.90 Lakhs (Previous: ₹1,626.96 Lakhs)
  • Inventories: ₹861.14 Lakhs (46% of total assets, Previous: ₹550.10 Lakhs)
  • Trade Receivables: ₹791.32 Lakhs (Previous: ₹896.61 Lakhs)
  • Share Capital: ₹417.97 Lakhs (41,79,724 equity shares of ₹10 each)
  • Borrowings: ₹154.40 Lakhs (Short-term, Previous: ₹28.58 Lakhs)

AGM Details

  • 13th Annual General Meeting: 30 September 2026 at 09:00 AM
  • Venue: Festa Banquet Hall, Mulund Goregaon Link Road, Opposite Runwal Greens, Mulund West-400 080, Maharashtra
  • Business:
  • Ordinary Business: Adoption of financial statements, re-appointment of Pritish Subrata Dey (DIN: 08235311)
  • Special Business: Appointment of Anita Ramchandani (DIN: 11675414) as Non-Executive Non-Independent Director and Anand Kumar Jha (DIN: 09706572) as Non-Executive Independent Director
  • Record Date: 23 September 2026 to 30 September 2026 (both days inclusive)

Director Changes

  • Resignations:
  • Rakesh Gurnomal Rohera (Non-Executive Independent Director) effective 31-Mar-2026
  • Anjali Vikas Sapkal (Independent Director) effective 25-Apr-2025
  • Janvhi Ajit Tawde (CFO) effective 10-Jun-2026
  • Appointments:
  • Anita Ramchandani (Non-Executive Non-Independent Director) effective 23-Apr-2026
  • Anand Kumar Jha (Non-Executive Independent Director) effective 25-Jul-2026

Key Audit Matters

1. Inventory Valuation: ₹861.14 Lakhs (46% of assets) - Significant management judgement in cost determination and net realizable value assessment

2. Trade Receivables Recovery: ₹791.32 Lakhs with ₹275.39 Lakhs outstanding >2 years - No provision for doubtful debts despite aging

Auditor Qualifications

  • Company has not obtained actuarial valuation for gratuity obligations as required under AS 15
  • Impact of non-compliance on financial results cannot be ascertained

Business Overview

  • Nature: Manufacturing protective gear (rainwear, life jackets, inflatable boats) using coated fabric
  • Products: Rainwear coats, jackets, winter jackets, inflatable boats, sleeping bags, life jackets, rucksacks, face masks
  • Technology Transfer: Received from DRDO for Hydrosuit and Breathing Apparatus
  • Manufacturing Unit: 79, Vishal Industrial Estate, Bhandup West, Mumbai (5,190 sq. ft.)

Dividend and Reserves

  • Dividend: No dividend recommended for FY 2025-26
  • Reserves: No amount transferred to General Reserve

Related Party Transactions

All transactions with related parties were at arm's length and in ordinary course of business. No materially significant transactions with potential conflict of interest.

Risk Factors

  • Inventory Management: Significant increase in inventory levels requires careful management
  • Receivables: High aging of trade receivables without provisioning
  • Profitability: Decline in net profit despite revenue increase due to rising costs

Contingent Liabilities

Income tax demands totaling ₹78.93 Lakhs for AY 2018-19 to AY 2025-26