Board Meeting Details

The Board of Directors meeting was held on Thursday, 29th October, 2026, commencing at 11:30 a.m. and concluding at 12:35 p.m. The Board approved the following items:

  • Unaudited Financial Results (Standalone and Consolidated) for the half year ended September 30, 2026
  • Statement of Assets & Liabilities (Standalone and Consolidated) for the half year ended September 30, 2026
  • Cash Flow Statements (Standalone and Consolidated) for the half year ended September 30, 2026
  • Limited Review Reports (Standalone and Consolidated) for the half year ended September 30, 2026
  • Statement of Deviation and variation for the Half year ended 30th September 2026

Standalone Financial Performance (₹ in Lakhs)

Income Statement Highlights

Half Year Ended September 30, 2026 (Unaudited) vs Comparative Periods:

  • Revenue from operations: ₹3,035.68 (vs ₹2,106.50 in H1 FY26 and ₹4,082.24 in FY26)
  • Other Income: ₹86.43 (vs ₹64.75 in H1 FY26 and ₹161.24 in FY26)
  • Total Revenue: ₹3,122.11 (vs ₹2,171.25 in H1 FY26 and ₹4,243.48 in FY26)

Expense Breakdown:

  • Cost of materials consumed: ₹1,395.92 (vs ₹961.89 in H1 FY26)
  • Changes in inventories: ₹97.28 (vs ₹159.16 in H1 FY26 and ₹-161.91 in FY26)
  • Employee Benefit Expense: ₹172.06 (vs ₹124.88 in H1 FY26 and ₹262.73 in FY26)
  • Finance Costs: ₹27.49 (vs ₹2.04 in H1 FY26 and ₹11.20 in FY26)
  • Depreciation: ₹44.90 (vs ₹25.03 in H1 FY26 and ₹57.71 in FY26)
  • Other Expenses: ₹472.64 (vs ₹294.25 in H1 FY26 and ₹581.96 in FY26)
  • Total Expenses: ₹2,210.29 (vs ₹1,567.24 in H1 FY26 and ₹3,018.25 in FY26)

Profitability Metrics:

  • Profit before exceptional item & tax: ₹911.82 (vs ₹604.01 in H1 FY26 and ₹1,225.23 in FY26)
  • Exceptional Items: None in current period (vs profit on sale of plot ₹123.95 in H1 FY26)
  • Profit before Tax: ₹911.82 (vs ₹727.96 in H1 FY26 and ₹1,349.18 in FY26)

Tax Expense:

  • Current year tax: ₹210.72 (vs ₹156.91 in H1 FY26 and ₹345.54 in FY26)
  • Prior year tax: ₹3.94 (vs nil in H1 FY26 and ₹1.24 in FY26)
  • Deferred tax: ₹21.24 (vs ₹19.38 in H1 FY26 and ₹-15.88 in FY26)
  • Total tax expense: ₹235.90 (vs ₹176.29 in H1 FY26 and ₹330.91 in FY26)

Bottom Line:

  • Profit after tax: ₹675.92 (vs ₹551.67 in H1 FY26 and ₹1,018.27 in FY26)
  • Earnings per share (Basic & Diluted, not annualized): ₹4.73 (vs ₹4.52 in H1 FY26 and ₹7.69 in FY26)

Standalone Balance Sheet Position (as at September 30, 2026)

Equity and Liabilities (₹ in Lakhs):

  • Share Capital: ₹1,428.00 (unchanged from March 31, 2026)
  • Reserves and Surplus: ₹4,713.10 (vs ₹4,037.18 as at March 31, 2026)
  • Total Shareholders' Funds: ₹6,141.10 (vs ₹5,465.18 as at March 31, 2026)
  • Long Term Provisions: ₹29.03 (vs ₹32.21 as at March 31, 2026)
  • Long Term Borrowings (Lease Liabilities): ₹839.82 (vs ₹824.61 as at March 31, 2026)
  • Trade Payables: ₹323.87 (₹256.97 due to micro & small enterprises + ₹66.90 other, vs ₹251.68 total as at March 31, 2026)
  • Other Current Liabilities: ₹197.66 (vs ₹65.83 as at March 31, 2026)
  • Short-Term Provisions: ₹58.00 (vs ₹32.23 as at March 31, 2026)
  • Total Liabilities: ₹7,589.49 (vs ₹6,671.75 as at March 31, 2026)

Assets (₹ in Lakhs):

  • Property, Plant and Equipment: ₹1,733.07 (vs ₹1,562.07 as at March 31, 2026)
  • Intangible Assets: ₹0.07 (vs ₹0.07 as at March 31, 2026)
  • Capital Work in Progress: ₹0.00 (vs ₹158.29 as at March 31, 2026)
  • Non Current Investments: ₹246.51 (vs ₹245.97 as at March 31, 2026)
  • Deferred Tax Assets: ₹7.11 (vs ₹28.35 as at March 31, 2026)
  • Long Term Loans and Advances: ₹850.44 (vs ₹26.73 as at March 31, 2026)
  • Inventories: ₹741.62 (vs ₹798.19 as at March 31, 2026)
  • Trade Receivables: ₹1,424.56 (vs ₹479.52 as at March 31, 2026)
  • Cash and Cash Equivalents: ₹2,517.95 (vs ₹3,278.24 as at March 31, 2026)
  • Short Term Loans and Advances: ₹50.45 (vs ₹66.60 as at March 31, 2026)
  • Other Current Assets: ₹17.73 (vs ₹27.72 as at March 31, 2026)
  • Total Assets: ₹7,589.49 (vs ₹6,671.75 as at March 31, 2026)

Standalone Cash Flow Statement (H1 FY27)

Cash Flow from Operating Activities (₹ in Lakhs):

  • Profit before taxation: ₹911.82
  • Adjustments: ₹79.91 (including depreciation ₹44.90, interest on lease liability ₹27.00, interest and finance charges ₹27.49, dividend received ₹-1.00, interest received ₹-18.48)
  • Operating profit before working capital changes: ₹991.73
  • Working capital changes: ₹-653.17 (mainly increase in trade receivables ₹-945.03, partially offset by decrease in inventories ₹56.57 and increase in liabilities ₹220.52)
  • Cash generated from operations: ₹339.18
  • Income taxes paid: ₹-205.57
  • Net cash from Operating Activities: ₹133.61

Cash Flow from Investment Activities (₹ in Lakhs):

  • Purchase of fixed assets: ₹-255.83
  • Loan to subsidiary: ₹-617.73
  • Investment in FD: ₹645.12
  • Purchase/sale of investments (net): ₹2.01
  • Dividend from current investments: ₹1.00
  • Interest received: ₹18.48
  • Lease rent on leasehold land: ₹-11.80
  • Net cash from Investment Activities: ₹-221.29

Cash Flow from Financing Activities (₹ in Lakhs):

  • Interest and finance charges paid: ₹-27.49
  • Net cash from Financing Activities: ₹-27.49

Net Change in Cash: ₹-115.17 (Opening cash: ₹3,278.24, Closing cash: ₹3,163.07)

Consolidated Financial Performance (₹ in Lakhs)

Income Statement Highlights for H1 FY27:

  • Revenue from operations: ₹4,010.04
  • Other Income: ₹75.62
  • Total Revenue: ₹4,085.66

Expense Breakdown:

  • Cost of materials consumed: ₹2,311.50
  • Changes in inventories: ₹-95.37
  • Employee Benefit Expense: ₹179.22
  • Finance Costs: ₹27.50
  • Depreciation: ₹51.66
  • Other Expenses: ₹617.06
  • Total Expenses: ₹3,091.56

Profitability Metrics:

  • Profit before tax: ₹994.09
  • Tax expense: ₹256.61 (current year ₹230.44, prior years ₹3.94, deferred tax ₹22.22)
  • Profit after tax: ₹737.48
  • Minority Interest: Not quantified in disclosure

Consolidated Balance Sheet Position (as at September 30, 2026)

Equity and Liabilities (₹ in Lakhs):

  • Share Capital: ₹1,428.00
  • Reserves and Surplus: ₹4,744.50
  • Minority Interest: ₹32.62
  • Total Shareholders' Funds: ₹6,205.12
  • Long Term Provisions: ₹29.03
  • Long Term Borrowings: ₹871.82
  • Trade Payables: ₹476.15 (₹256.97 due to micro & small enterprises + ₹219.18 other)
  • Other Current Liabilities: ₹211.43
  • Short-Term Provisions: ₹61.57
  • Total Liabilities: ₹7,855.12

Assets (₹ in Lakhs):

  • Property, Plant and Equipment: ₹1,865.90
  • Intangible Assets: ₹0.07
  • Intangible Assets Under Development: ₹243.96
  • Non Current Investments: ₹6.13
  • Long Term Loans and Advances: ₹235.51
  • Inventories: ₹1,133.55
  • Trade Receivables: ₹1,632.60
  • Cash and Cash Equivalents: ₹2,524.24
  • Short Term Loans and Advances: ₹50.45
  • Other Current Assets: ₹162.71
  • Total Assets: ₹7,855.12

Consolidated Cash Flow Statement (H1 FY27)

Cash Flow from Operating Activities (₹ in Lakhs):

  • Profit before taxation: ₹994.09
  • Adjustments: ₹97.49 (including depreciation ₹51.66, interest on lease liability ₹27.00, interest and finance charges ₹27.50, dividend received ₹-1.00, interest received ₹-7.67)
  • Operating profit before working capital changes: ₹1,091.58
  • Working capital changes: ₹-1,234.33 (mainly increase in trade receivables ₹-1,153.08 and inventories ₹-335.36)
  • Cash generated from operations: ₹-142.69
  • Income taxes paid: ₹-221.73
  • Net cash from Operating Activities: ₹-364.42

Cash Flow from Investment Activities (₹ in Lakhs):

  • Purchase of fixed assets: ₹-395.42
  • Investment in FD: ₹645.12
  • Purchase/sale of investments (net): ₹2.01
  • Dividend from current investments: ₹1.00
  • Interest received: ₹7.67
  • Lease rent on leasehold land: ₹-11.80
  • Net cash from Investment Activities: ₹248.59

Cash Flow from Financing Activities (₹ in Lakhs):

  • Interest and finance charges paid: ₹-27.50
  • Loan from Dhariya Patel and Cryogenic OGS Limited (Net): ₹32.00
  • Proceed from Issue of Share (Net off issue expenses): ₹2.45
  • Net cash from Financing Activities: ₹6.95

Net Change in Cash: ₹-108.88 (Opening cash: ₹3,278.24, Closing cash: ₹3,169.36)

Segment Reporting (Consolidated, H1 FY27)

Segment Revenue (₹ in Lakhs):

  • Oil and Gas Equipments: ₹3,035.68
  • Precision Engineering Products: ₹974.36
  • Total Revenue from Operations: ₹4,010.04

Segment Results (Profit before tax, ₹ in Lakhs):

  • Oil and Gas Equipments: ₹911.82
  • Precision Engineering Products: ₹82.27
  • Total: ₹994.09

Segment Assets (₹ in Lakhs):

  • Oil and Gas Equipments: ₹6,968.23
  • Precision Engineering Products: ₹886.89
  • Total Segment Assets: ₹7,855.12

Segment Liabilities (₹ in Lakhs):

  • Oil and Gas Equipments: ₹1,448.38
  • Precision Engineering Products: ₹201.62
  • Total Segment Liabilities: ₹1,650.00

Capital Employed (Owners, ₹ in Lakhs):

  • Oil and Gas Equipments: ₹5,519.84
  • Precision Engineering Products: ₹685.28
  • Total: ₹6,205.12

Subsidiary Information

During H1 FY27, the Holding Company subscribed to equity shares of its subsidiary Infravolt Engineering Private Limited. Consolidated financial results have not been presented for previous periods as the subsidiary became a subsidiary during the current period only.

During the year ended March 31, 2026, the Holding Company also subscribed to equity shares of another subsidiary M/s Cryogenic OGS Middle East F.Z.E. However, as at September 30, 2026, no consideration had been remitted by the Company towards this share subscription.

Auditor Review Reports

Standalone Financial Results: Maloo Bhatt & Co., Chartered Accountants (ICAI Firm Registration No. 0129572W) reviewed the standalone results and issued an unmodified review report dated October 29, 2026.

Consolidated Financial Results: The same firm reviewed the consolidated results and issued an unmodified review report dated October 29, 2026. The consolidation includes Infravolt Engineering Private Limited (Indian subsidiary).

Statement of Deviation/Variation in Use of IPO Proceeds

Fund Raising Details:

  • Mode of Fund Raising: Initial public offer
  • Date of Raising Funds: July 10, 2025
  • Amount Raised: ₹17.76 Crores
  • Monitoring Agency: Not Applicable

Utilization of Funds:

  • No deviation/variation in use of funds raised
  • Working Capital Requirements: ₹11.50 crore allocated, ₹7.67 crore utilized
  • General Corporate Purpose: ₹3.96 crore allocated, ₹3.96 crore utilized
  • Issue related expenses: ₹2.30 crore allocated, ₹2.28 crore utilized

Audit Committee comments: None

Auditor comments: None

Additional Information

  • The company is engaged in manufacturing equipment used in Oil and Gas industries (standalone basis)
  • On consolidated basis, the company has two reportable segments: Oil and Gas Equipment and Precision Engineering Products
  • Previous periods' figures have been regrouped/rearranged wherever necessary for comparability
  • The financial results and related documents are available on the company website: https://cryogenicogs.com