Key Business Approved

1. Approval of Financial Results: The Board approved the Un-audited Financial Results (Standalone & Consolidated) for the quarter and half year ended September 30, 2026. This includes the Statement of Assets and Liabilities and Cash Flow Statement for the half year. The Statutory Auditors, M/s Mahendra N. Shah & Co., issued a Limited Review Report on these results.

2. Appointment of Company Secretary: The Board approved the appointment of Ms. Nishtha Patel as the Company Secretary and Compliance Officer of the Company, effective November 3, 2026. She is a qualified Company Secretary with experience in Secretarial Compliances including ROC, SEBI, RBI, and various other compliances. This is also a disclosure of a Key Managerial Personnel (KMP) appointment.

3. Authorization of Key Managerial Personnel: Pursuant to Regulation 30(5) of SEBI LODR, the Board authorized specific KMPs to determine the materiality of events and make disclosures to stock exchanges.

  • For determining materiality and making disclosures: Mr. Paras Shantilal Savla (Chairman & MD), Mr. Rupesh Kantilal Savla (Managing Director), and Mr. Rohan Vasantkumar Shah (Whole-time Director (Finance) & CFO).
  • For making disclosures to exchanges: Ms. Nishtha Patel (Company Secretary & Compliance Officer).

Detailed Financial Performance (Standalone - Rs. in Lakhs)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from Operations: ₹21,300.98
  • Other Income: ₹1,393.79
  • Total Income: ₹22,694.77
  • Total Expenses: ₹14,934.62
  • Profit Before Tax: ₹7,760.15
  • Total Tax Expense: ₹1,823.19 (Current Tax: ₹1,092.67, Deferred Tax: ₹730.52)
  • Net Profit: ₹5,936.96
  • Other Comprehensive Income: ₹5.70
  • Total Comprehensive Income: ₹5,942.66
  • Earnings Per Share (EPS) (Basic & Diluted): ₹9.28

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

  • Revenue from Operations: ₹38,478.53
  • Other Income: ₹2,776.93
  • Total Income: ₹41,255.46
  • Total Expenses: ₹26,113.31
  • Profit Before Tax: ₹15,142.15
  • Total Tax Expense: ₹3,687.37
  • Net Profit: ₹11,454.78
  • Other Comprehensive Income: ₹11.40
  • Total Comprehensive Income: ₹11,466.18
  • Earnings Per Share (EPS) (Basic & Diluted): ₹17.90

Comparative Figures (Standalone):

  • Q2 FY26 (Sep 30, 2025) Net Profit: ₹5,011.72; EPS: ₹7.83
  • H1 FY26 (Sep 30, 2025) Net Profit: ₹9,676.17; EPS: ₹15.12
  • FY26 (Mar 31, 2026) Net Profit: ₹9,748.19; EPS: ₹15.23

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

  • Total Assets: ₹2,27,804.57
  • Total Equity: ₹1,76,189.57 (Share Capital: ₹3,200.00; Other Equity: ₹1,72,989.57)
  • Non-Current Liabilities: ₹17,973.96
  • Current Liabilities: ₹33,641.04

Standalone Cash Flow (H1 FY27):

  • Cash from Operating Activities: ₹9,985.18
  • Cash Used in Investing Activities: (₹11,138.33)
  • Cash from Financing Activities: ₹1,237.52
  • Net Increase in Cash: ₹84.37

Detailed Financial Performance (Consolidated - Rs. in Lakhs)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue from Operations: ₹29,542.91
  • Other Income: ₹1,760.05
  • Total Income: ₹31,302.96
  • Total Expenses: ₹20,937.98
  • Profit Before Tax: ₹10,364.98
  • Total Tax Expense: ₹2,242.56 (Current Tax: ₹1,342.08, Deferred Tax: ₹899.50, Prior Year Adjustment: ₹0.98)
  • Net Profit: ₹8,122.42
  • Attributable to Owners: ₹7,649.31
  • Attributable to Non-Controlling Interest: ₹473.11
  • Other Comprehensive Income: ₹383.48
  • Total Comprehensive Income: ₹8,505.90
  • Earnings Per Share (EPS) (Basic & Diluted) [Attributable to Owners]: ₹11.95

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

  • Revenue from Operations: ₹57,434.41
  • Other Income: ₹4,128.05
  • Total Income: ₹61,562.46
  • Total Expenses: ₹40,032.90
  • Profit Before Tax: ₹21,529.56
  • Total Tax Expense: ₹4,492.69
  • Net Profit: ₹17,036.87
  • Attributable to Owners: ₹16,185.28
  • Attributable to Non-Controlling Interest: ₹851.59
  • Other Comprehensive Income: ₹374.60
  • Total Comprehensive Income: ₹17,411.47
  • Earnings Per Share (EPS) (Basic & Diluted) [Attributable to Owners]: ₹25.29

Comparative Figures (Consolidated):

  • Q2 FY26 (Sep 30, 2025) Net Profit (Attributable to Owners): ₹6,741.42; EPS: ₹10.53
  • H1 FY26 (Sep 30, 2025) Net Profit (Attributable to Owners): ₹12,623.89; EPS: ₹19.72
  • FY26 (Mar 31, 2026) Net Profit (Attributable to Owners): ₹17,993.86; EPS: ₹28.12

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

  • Total Assets: ₹2,84,393.73
  • Total Equity: ₹2,14,876.16 (Share Capital: ₹3,200.00; Other Equity: ₹2,11,676.16)
  • Non-Controlling Interest: ₹12,164.86
  • Non-Current Liabilities: ₹18,154.03
  • Current Liabilities: ₹39,198.68

Consolidated Cash Flow (H1 FY27):

  • Cash from Operating Activities: ₹15,472.10
  • Cash Used in Investing Activities: (₹12,334.96)
  • Cash from Financing Activities: ₹553.83
  • Net Increase in Cash: ₹3,690.97

Notes to Financial Results

1. Segment Information: The company operates in a single business segment, "Oil and Gas Field Services" (Standalone). The Group operates in "Oil and Gas Field services" and "Oil and Gas Offshore Support Service" but is reviewed as a single segment by the CODM.

2. Exceptional Item: For the year ended March 31, 2026, an exceptional item of ₹20,828.49 Lakhs was recorded, representing a one-time loss due to a cleaning-up exercise post the merger of Kandla Energy and Chemicals Ltd.

3. Merger Impact: The financial results for the comparative quarter and half year ended September 30, 2025, have been restated to reflect the impact of the merger with Kandla Energy and Chemicals Limited.

4. Auditor's Emphasis of Matter: The statutory auditor's review report on consolidated results draws attention to an Expected Credit Loss (ECL) provision of ₹1,335.77 Lakhs recognized on trade receivables as of September 30, 2026.

5. Subsidiaries: The consolidated results include the financials of 13 subsidiaries. The review relied on the reports of other auditors for 2 foreign subsidiaries (Deep International DMCC, SAAR International FZ-LLC) and 2 other subsidiaries (Dolphin Offshore Enterprises (Mauritius) Private Limited, Beluga International DMCC).