Board Meeting Details
The Board of Directors meeting was held on Thursday, 12th November 2026, commencing at 4:00 PM and concluding at 5:00 PM.
Financial Results Approval
The Board considered and approved:
- Un-Audited Standalone Financial Results for half-year ended 30th September 2026
- Un-Audited Consolidated Financial Results for half-year ended 30th September 2026
- Limited Review Reports from statutory auditors M/s. G.P. Associates
- Statement on Deviation/Variation in use of proceeds under SEBI Listing Regulations
- Statutory Auditors' Certificate on utilization of issue proceeds
Standalone Financial Performance (₹ lakhs)
Income Statement:
- Revenue from operations: ₹2,172.69 (H1 FY26: ₹1,623.75; FY26: ₹4,822.70; FY25: ₹5,139.60)
- Other income: ₹4.30 (H1 FY26: ₹0; FY26: ₹28.02; FY25: ₹13.57)
- Total income: ₹2,176.99 (H1 FY26: ₹1,623.75)
- Total expenses: ₹2,059.41 (H1 FY26: ₹1,701.65)
- Profit before tax: ₹117.58 (H1 FY26: loss of ₹77.90)
- Tax expense: ₹30.79 (H1 FY26: ₹21.30)
- Profit for period: ₹86.79 (H1 FY26: loss of ₹99.20)
Per Share Data:
- Weighted average shares: 5,47,96,000 (H1 FY26: 4,00,00,000)
- Basic EPS: ₹0.16 (H1 FY26: loss of ₹0.25)
- Diluted EPS: ₹0.16 (H1 FY26: loss of ₹0.25)
Balance Sheet (as at 30-Sep-2026):
- Total equity: ₹3,532.84 (Mar-2026: ₹3,446.07)
- Share capital: ₹547.96 (unchanged)
- Reserves & surplus: ₹2,984.88 (Mar-2026: ₹2,898.11)
- Total liabilities: ₹4,714.58 (Mar-2026: ₹4,830.79)
- Total assets: ₹4,714.58 (Mar-2026: ₹4,830.79)
- Cash & cash equivalents: ₹570.63 (Mar-2026: ₹1,104.47)
Cash Flow Statement (H1 FY27):
- Net cash from operating activities: negative ₹355.12
- Net cash from investing activities: negative ₹161.26
- Net cash from financing activities: negative ₹17.46
- Net decrease in cash: ₹533.84
Consolidated Financial Performance (₹ lakhs)
Income Statement:
- Revenue from operations: ₹2,710.33 (H1 FY26: ₹1,954.07)
- Other income: ₹4.42 (H1 FY26: ₹4.45)
- Total income: ₹2,714.77 (H1 FY26: ₹1,958.52)
- Total expenses: ₹2,595.63 (H1 FY26: ₹2,068.78)
- Profit before tax: ₹119.14 (H1 FY26: loss of ₹110.26)
- Tax expense: ₹37.36 (H1 FY26: ₹22.49)
- Profit for period: ₹81.78 (H1 FY26: loss of ₹132.75)
- Profit attributable to owners: ₹88.00 (H1 FY26: loss of ₹121.05)
- Minority interest: negative ₹6.22 (H1 FY26: negative ₹11.70)
Per Share Data:
- Basic EPS: ₹0.15 (H1 FY26: loss of ₹0.33)
- Diluted EPS: ₹0.15 (H1 FY26: loss of ₹0.33)
Subsidiary Investment
During the half year, the Company subscribed to 4,95,000 equity shares of ₹10 each of its subsidiary, Malaxmi Polymers Private Limited, at par (₹49.50 lakh) under the rights issue offer made by the subsidiary on 22 July 2026 and 29 September 2026. The Company's shareholding in the subsidiary remains at 66%.
IPO Proceeds Utilization
Utilization status as of 30th September 2026:
- Funding Capital Expenditure: ₹210.62 lakh utilized (₹315.55 lakh unutilized, temporarily parked in bank fixed deposits)
- Repayment of borrowings: ₹390.40 lakh fully utilized
- Working Capital: ₹1,413.32 lakh fully utilized
- Issue-related expenses: ₹311.27 lakh fully utilized
- General Corporate Purposes: ₹446.88 lakh utilized (₹19.12 lakh unutilized, temporarily parked in bank current accounts)
- Total utilized: ₹2,772.49 lakh
- Total unutilized: ₹334.67 lakh
Auditor Review
M/s. G.P. Associates, Chartered Accountants conducted limited review of both standalone and consolidated financial results and issued unqualified review reports dated 12th November 2026. For consolidated results, they relied on review report of another auditor for subsidiary Vasavi Building Materials Private Limited.
Additional Information
- Company operates in single business segment
- Previous period figures regrouped/reclassified where necessary