Board Meeting Details

The Board Meeting was held on Wednesday, 12th August 2026 at Unit II of the Company situated at Village Sejvaya, Dhar Road, Ghatabillod, District Dhar, Madhya Pradesh. The meeting commenced at 3:30 PM and concluded at 6:00 PM.

Key Decisions and Approvals

1. Financial Results Approval

The Board approved the Un-Audited Standalone and Consolidated Financial Results for the quarter ended 30th June 2026.

2. Limited Review Report

The Board took on record the Limited Review Report by the Auditors for the Unaudited Standalone & Consolidated Financial Results for the quarter ended 30th June 2026.

3. AGM Arrangements

  • Approved closure of Register of Members and Share Transfer books from 24th September 2026 to 30th September 2026 (both days inclusive) for the 41st Annual General Meeting
  • Approved the Board's Report and Notice of 41st AGM for the year ended 31st March 2026 to be held on Wednesday, 30th September 2026
  • Finalized Cut-off date and Remote E-Voting period for the 41st AGM to be held through VC/OAVM

4. Appointments

  • Approved appointment of CS (Dr.) D. K. Jain, Practicing Company Secretary, Indore as Scrutinizer for entire E-Voting process for the 41st AGM pursuant to Section 108 read with Rule 20 of the Companies (Management and Administration) Amendment Rules, 2015
  • Approved appointment of M/s Shivangi Bhavin Shah & Co., Practicing Cost Accountant Ahmedabad as Cost Auditor for financial year 2026-27

5. Management Reappointments

Subject to member approval, the Board approved:

  • Reappointment of Shri Saurabh Vora (DIN: 02750484) as Whole Time Director for 3 years effective 1st October 2026
  • Reappointment of Shri Harsh Vora (DIN: 00149287) as Managing Director for 3 years effective 1st October 2026

Standalone Financial Results (Quarter Ended 30th June 2026)

Income Statement (₹ in lakhs)

  • Sales: 6,596.47
  • Other Income: 39.15
  • Total Income: 6,635.61

Expenses (₹ in lakhs)

  • Cost of materials consumed: 5,438.50
  • Changes in inventories: (695.33) [decrease]
  • Employee benefits expenses: 799.01
  • Finance Costs: 66.78
  • Depreciation and amortization: 89.04
  • Other Expenses: 682.61
  • Total Expenses: 6,380.60

Profitability (₹ in lakhs)

  • Profit before tax: 255.01
  • Tax expenses:
  • Current Tax: 44.56
  • Deferred Tax: 12.10
  • Profit for the period: 198.34
  • Total comprehensive income: 309.92

Key Metrics

  • Paid-up Equity Share Capital: ₹1,023.50 lakhs (Face Value ₹10 each)
  • Basic EPS: ₹1.94
  • Diluted EPS: ₹1.94

Consolidated Financial Results (Quarter Ended 30th June 2026)

Income Statement (₹ in lakhs)

  • Sales: 6,596.47
  • Other Income: 39.15
  • Total Income: 6,635.61

Expenses (₹ in lakhs)

  • Cost of materials consumed: 5,438.50
  • Changes in inventories: (695.33) [decrease]
  • Employee benefits expenses: 799.01
  • Finance Costs: 66.78
  • Depreciation and amortization: 89.06
  • Other Expenses: 682.61
  • Total Expenses: 6,380.63

Profitability (₹ in lakhs)

  • Profit before tax: 254.99
  • Tax expenses:
  • Current Tax: 44.56
  • Deferred Tax: 12.09
  • Profit for the period: 198.32
  • Total comprehensive income: 330.02

Key Metrics

  • Paid-up Equity Share Capital: ₹1,023.50 lakhs (Face Value ₹10 each)
  • Basic EPS: ₹1.94

Significant Accounting Notes

Rights Issue Utilization

The Company allotted 20,47,000 fully paid-up Equity Shares of face value ₹10 each on Rights Basis on 19th February 2026 at an issue price of ₹120 per Equity Share (including securities premium of ₹110 per Equity Share), aggregating to ₹2,456.40 lakhs. The proceeds were fully utilized before 31st March 2026 towards the objects stated in the Letter of Offer.

Labour Code Impact

Effective 21 November 2025, the Government of India consolidated multiple labour legislations into four Labour Codes. Under Ind AS 19, changes to employee benefit plans arising from legislative amendments constitute a plan amendment, requiring immediate recognition of past service cost in the Statement of Profit and Loss.

The Company assessed the impact during the quarter ended March 31, 2026 and subsequently reassessed and disclosed an incremental impact in the quarter ended June 30, 2026. The incremental impact of ₹121.63 lakhs (primarily gratuity) arose due to change in definition of wages and was recognized as past service cost under "Employee benefits expense".

The Company continues to monitor the finalization of Central/State Rules and government clarifications on other aspects of the Labour Code and will provide appropriate accounting effect as needed.

Basis of Preparation

The financial results are prepared in compliance with Indian Accounting Standards (Ind AS) as notified under Section 133 of the Companies Act, 2013 and prepared in accordance with Ind AS 34 Interim Financial Reporting.

Subsidiary Information

Consolidated financial results include the results of V & H Fabricators Pvt. Ltd., a wholly owned subsidiary company.

Comparative Figures

Previous year/period figures have been regrouped, rearranged and reclassified wherever considered necessary to make them comparable with current period figures. Figures for the quarter ended 31 March 2026 are balancing figures between audited full-year figures and unaudited nine-month figures ended 31 December 2025.

Auditor Review

Both standalone and consolidated financial results were reviewed by M/s ABN & Co., Chartered Accountants (FRN 004447C). The auditors issued a limited review report stating that nothing has come to their attention that causes them to believe that the statements contain any material misstatement.