Key Financial Results

Quarterly Results (Q4 FY26)

  • Total Income: ₹1,128.50 lakhs
  • Total Expenses: ₹1,045.02 lakhs
  • Profit Before Tax: ₹83.48 lakhs
  • Total Tax Expense: ₹23.78 lakhs
  • Net Profit: ₹59.70 lakhs
  • Basic EPS: ₹0.33
  • Diluted EPS: ₹0.36

Annual Results (FY26)

  • Total Income: ₹3,555.50 lakhs
  • Total Expenses: ₹2,785.78 lakhs
  • Profit Before Tax: ₹769.72 lakhs
  • Total Tax Expense: ₹711.53 lakhs
  • Net Profit: ₹58.19 lakhs
  • Basic EPS: ₹2.80
  • Diluted EPS: ₹2.99

Balance Sheet Position (as of March 31, 2026)

  • Total Assets: ₹11,575.66 lakhs
  • Total Equity: ₹10,787.32 lakhs
  • Paid-up Share Capital: ₹1,843.73 lakhs
  • Reserves: ₹8,943.58 lakhs
  • Total Liabilities: ₹788.34 lakhs

Capital Structure Impact

The Company converted 5,00,000 warrants into equity shares of ₹10 each at an issue price of ₹200 per share on March 27, 2026. Against this conversion, the Company received an aggregate amount of ₹10,00,00,000 from the concerned allottees. Additionally, 2,50,000 warrants were forfeited due to non-receipt of the balance consideration within the prescribed time period.

Significant Events and Contingencies

1. CKP Bank Contingency

The RBI withdrew CKP Bank's license and declared that ₹5,00,000 will be confirmed given to depositors, which has been received by the company and adjusted against the current account balance. The remaining amount will be given to deposit holders and shareholders if reserves are available. This amount is still recorded as an asset in financials, which will be reversed when confirmation comes from RBI about non-payment.

2. GST Penalty Dispute

The Company received a Show Cause Notice from DGGI Mumbai Zonal Unit in FY 2022-23 for ineligible ITC utilized amounting to ₹3,94,48,606. The company filed an appeal which was favorable, waiving the basic ITC amount along with interest. However, the department imposed a penalty of ₹3,94,48,606 under Section 122(1)(vii) of the CGST Act, 2017 and ₹3,95,41,718 under Section 122(1)(ii) of the MGST Act 2017.

The Management has filed an appeal against this penalty order on June 24, 2024. An amount of ₹3,02,72,356 already deposited with the GST department under protest shall remain a deposit until the matter attains finality.

3. Loan Transactions

The Company provided loans during the year to:

  • Kanai Capital Holdings: ₹1,50,00,000 (outstanding: ₹1,54,91,917.50)
  • Buniyad Supercomputers LLP: ₹1,58,50,000 (fully repaid, outstanding: ₹0.00)

Other Disclosures

  • The Company spent the required amount towards Corporate Social Responsibility (CSR) during the year with no unspent amount
  • No fraud was reported or detected during the year
  • No dividend was declared or paid during the year
  • The Company has adequate internal financial controls system
  • No related party transactions during the year
  • No default in repayment of borrowings or interest payments

Segment Information

Manufacturing Segment

  • Q4 Revenue: ₹548.35 lakhs
  • FY26 Revenue: ₹2,492.52 lakhs
  • Segment Profit: ₹366.03 lakhs (FY26)

Project Sales Segment

  • Q4 Revenue: ₹458.22 lakhs
  • FY26 Revenue: ₹524.69 lakhs
  • Segment Profit: ₹26.51 lakhs (FY26)

Cash Flow Information

  • Cash generated from operations: Negative ₹1,045.57 lakhs
  • Net cash used in investing activities: ₹76.32 lakhs
  • Net cash used in financing activities: ₹728.21 lakhs
  • Closing cash and cash equivalents: ₹6,093.87 lakhs

Annexures Included

1. Declaration pursuant to Regulation 33(3)(d) confirming unmodified audit opinion

2. Statement on deviation/variation of funds - no material deviation in use of preferential issue proceeds

3. Disclosure of internal auditor reappointment (Vikas More) effective April 1, 2026