Key Decisions

The Board of Directors meeting, held from 2:00 PM to 4:00 PM at the Head Office in Indore, concluded with the following decisions:

1. Approval of the Un-Audited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026.

2. Taken on Record the Limited Review Report by the Auditors, M/s ABN & Co. (FRN 004447C), for the aforementioned financial results.

3. Other routine businesses.

The company is in the process of filing the announcement under Regulation 29(1) in XBRL format.

Standalone Financial Performance (Rs. in Lakhs)

Income Statement for Quarter Ended September 30, 2026 (Q2 FY27):

  • Sales: ₹7,765.65 (vs. ₹6,561.71 in Q2 FY26; +18.3% YoY)
  • Other Income: ₹12.24
  • Total Income: ₹7,777.89
  • Profit Before Tax (PBT): ₹351.08 (vs. ₹193.34 in Q2 FY26; +81.6% YoY)
  • Tax Expense: ₹80.52 (Current Tax: ₹73.44, Deferred Tax: ₹7.08)
  • Profit After Tax (PAT): ₹270.56 (vs. ₹157.69 in Q2 FY26; +71.6% YoY)
  • Earnings Per Share (EPS) - Basic/Diluted: ₹2.64 (vs. ₹1.90 in Q2 FY26)

Income Statement for Half Year Ended September 30, 2026 (H1 FY27):

  • Sales: ₹14,362.11 (vs. ₹11,851.92 in H1 FY26; +21.2% YoY)
  • Other Income: ₹51.39
  • Total Income: ₹14,413.50
  • Profit Before Tax (PBT): ₹606.08 (vs. ₹368.63 in H1 FY26; +64.4% YoY)
  • Tax Expense: ₹137.18 (Current Tax: ₹118.00, Deferred Tax: ₹19.18)
  • Profit After Tax (PAT): ₹468.91 (vs. ₹291.77 in H1 FY26; +60.7% YoY)
  • Earnings Per Share (EPS) - Basic/Diluted: ₹4.58 (vs. ₹3.54 in H1 FY26)

Balance Sheet as of September 30, 2026 (Standalone):

  • Total Assets: ₹16,927.86 (vs. ₹15,095.16 on Mar 31, 2026)
  • Equity Share Capital: ₹1,023.50 (unchanged)
  • Other Equity: ₹7,235.51 (vs. ₹6,738.84 on Mar 31, 2026)
  • Total Equity: ₹8,259.01
  • Borrowings (Non-Current + Current): ₹5,294.28 (₹1,992.07 + ₹3,302.21) (vs. ₹4,624.73 on Mar 31, 2026)

Cash Flow for H1 FY27 (Standalone):

  • Net Cash from Operating Activities: ₹393.46
  • Net Cash Used in Investing Activities: (₹2,203.45), primarily for Purchase of Property, Plant & Equipment including CWIP (₹2,221.46)
  • Net Cash from Financing Activities: ₹551.30, primarily from increase in Short Term Borrowings (₹895.04)
  • Net Decrease in Cash: (₹1,258.69)
  • Cash & Cash Equivalents at period end: ₹40.24 (vs. ₹1,298.93 at start of period)

Consolidated Financial Performance (Rs. in Lakhs)

The consolidated results include the financials of wholly-owned subsidiary V & H Fabricators Pvt. Ltd.

Income Statement for Quarter Ended September 30, 2026 (Q2 FY27):

  • Profit After Tax (PAT): ₹270.56
  • Earnings Per Share (EPS) - Basic/Diluted: ₹2.64

Income Statement for Half Year Ended September 30, 2026 (H1 FY27):

  • Profit After Tax (PAT): ₹468.88
  • Earnings Per Share (EPS) - Basic/Diluted: ₹4.58

Balance Sheet as of September 30, 2026 (Consolidated):

  • Total Assets: ₹16,987.29
  • Total Equity: ₹8,314.21

Auditor's Review

M/s ABN & Co., Chartered Accountants, issued a limited review report on both the standalone and consolidated results. They concluded that nothing came to their attention causing them to believe the statements contain any material misstatement. The auditors drew attention to the fact that they were not engaged to review the comparative figures for the quarter ended September 30, 2025, which were furnished by management.

Notes to Accounts

  • The results were reviewed by the Audit Committee and then taken on record by the Board.
  • The financial results are prepared in compliance with Ind AS 34.
  • EPS for the year ended March 31, 2026, is for the full year, while for the quarter/half-year it is only for that period.
  • Previous year figures have been regrouped/reclassified for comparability.

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