Financial Performance Highlights (Standalone)

Quarter Ended 30-Sep-26 (₹ lakhs):

  • Revenue From Operations: 55,429
  • Other Income: 849
  • Total Income: 56,278
  • Profit Before Exceptional Items and Tax: 7,934
  • Profit Before Tax: 7,934
  • Profit After Tax: 6,131
  • Basic & Diluted EPS: ₹28.06 (not annualized)

Half Year Ended 30-Sep-26 (₹ lakhs):

  • Revenue From Operations: 1,11,252
  • Other Income: 1,830
  • Total Income: 1,13,082
  • Profit Before Exceptional Items and Tax: 10,685
  • Profit Before Tax: 10,685
  • Profit After Tax: 7,995
  • Basic & Diluted EPS: ₹36.59 (not annualized)

Comparative Performance (YoY):

Quarter Ended 30-Sep-25 PAT: ₹1,864 lakhs (current: ₹6,131 lakhs, +228%)

Half Year Ended 30-Sep-25 PAT: ₹7,995 lakhs (previous: ₹3,791 lakhs, +111%)

Consolidated Financial Performance

Quarter Ended 30-Sep-26 (₹ lakhs):

  • Profit After Tax: 6,170
  • Basic & Diluted EPS: ₹28.24

Half Year Ended 30-Sep-26 (₹ lakhs):

  • Profit After Tax: 8,019
  • Basic & Diluted EPS: ₹36.70

Exceptional Items

The Company recognized an exceptional item of ₹186 lakhs as "Statutory Impact of New Labour Codes" towards additional gratuity liability, classified as past service cost due to the revised definition of wages under the new Labour Codes.

Legal Contingency

Note 3 discloses an ongoing excise duty dispute:

  • Original demand (31-Dec-2013): ₹22,927 lakhs + interest + penalty
  • CESTAT order (20-Dec-2019): Upheld denial of notification, remanded for redetermination
  • Commissioner, CGST & Central Excise, Raigad redetermined demand (8-Sep-2020): ₹730 lakhs + interest + penalty
  • Company has deposited ₹730 lakhs under protest
  • Department has filed appeal before Appellate Tribunal
  • Company's appeal pending before Hon'ble Supreme Court of India
  • Company believes it has "fair chance of ultimately succeeding" and no provision made in accounts

Assets and Liabilities (Standalone as at 30-Sep-26)

  • Total Assets: ₹1,92,750 lakhs
  • Property, Plant and Equipment: ₹75,214 lakhs
  • Inventories: ₹31,323 lakhs
  • Trade Receivables: ₹21,632 lakhs
  • Cash and Cash Equivalents: ₹1,808 lakhs
  • Total Equity: ₹1,55,740 lakhs
  • Paid-up Equity Share Capital: ₹2,185 lakhs (face value ₹10 each)

Cash Flow (Half Year Ended 30-Sep-26)

  • Net Cash From Operating Activities: (₹1,417) lakhs
  • Net Cash From Investing Activities: ₹5,090 lakhs
  • Net Cash From Financing Activities: (₹2,534) lakhs
  • Net Increase in Cash: ₹1,139 lakhs

Auditor Review

The financial results were reviewed by Singhi & Co., Chartered Accountants (Firm Registration No. 302049E), who issued an unmodified conclusion with an Emphasis of Matter regarding the excise duty contingency.