Board Meeting Details
The Board of Directors meeting was held on Tuesday, November 03, 2026, from 12:30 p.m. to 1:15 p.m. at the Registered Office in Gandhinagar.
Key Approvals
1. Approved Un-Audited Financial Results (Standalone & Consolidated) for the Second Quarter ended September 30, 2026
2. Taken on record 'Limited Review Report' issued by M/s. S N Shah & Associates LLP, Statutory Auditors
Standalone Financial Performance (Rs. in Lakhs)
Quarter Ended September 30, 2026:
- Revenue from operations: ₹2,925.92
- Other Income: ₹88.28
- Total Income: ₹3,014.19
- Total Expenses: ₹2,723.99
- Profit before tax: ₹290.21
- Tax Expense: ₹74.92 (Current Tax: ₹92.16, Deferred Tax: ₹-17.24)
- Profit for the period: ₹215.29
- EPS: ₹0.89 (Basic & Diluted)
Half Year Ended September 30, 2026:
- Revenue from operations: ₹5,933.90
- Other Income: ₹194.00
- Total Income: ₹6,127.89
- Total Expenses: ₹5,583.03
- Profit before tax: ₹544.87
- Tax Expense: ₹138.64 (Current Tax: ₹200.25, Deferred Tax: ₹-61.61)
- Profit for the period: ₹406.23
- EPS: ₹1.68 (Basic & Diluted)
Comparative Figures (Quarter):
- September 30, 2025: Revenue ₹2,575.01, Profit ₹174.59, EPS ₹0.72
- June 30, 2026: Revenue ₹3,007.98, Profit ₹190.93, EPS ₹0.79
Consolidated Financial Performance (Rs. in Lakhs)
Quarter Ended September 30, 2026:
- Revenue from operations: ₹2,925.92
- Other Income: ₹88.28
- Total Income: ₹3,014.19
- Profit before tax: ₹292.66
- Tax Expense: ₹74.92 (Current Tax: ₹92.16, Deferred Tax: ₹-17.24)
- Profit for the period: ₹217.74
- EPS: ₹0.90 (Basic & Diluted)
Half Year Ended September 30, 2026:
- Revenue from operations: ₹5,933.90
- Other Income: ₹194.00
- Total Income: ₹6,127.89
- Profit before tax: ₹548.80
- Tax Expense: ₹138.64 (Current Tax: ₹200.25, Deferred Tax: ₹-61.61)
- Profit for the period: ₹410.16
- EPS: ₹1.70 (Basic & Diluted)
Balance Sheet Position (Standalone as of September 30, 2026)
- Total Assets: ₹15,191.63 lakhs
- Equity Share Capital: ₹2,418.00 lakhs (Face value ₹10/- per share)
- Other Equity: ₹8,495.78 lakhs
- Non-current liabilities: ₹2,508.39 lakhs
- Current liabilities: ₹1,769.47 lakhs
Segment-wise Performance (Standalone)
Revenue Contribution (Q2 FY2027):
- Rakanpur: ₹2,150.37 lakhs
- Santej: ₹379.88 lakhs
- Hajipur: ₹483.94 lakhs
Segment Results (Profit/Loss before finance costs, exceptional items and tax):
- Rakanpur: ₹248.29 lakhs profit
- Santej: ₹148.79 lakhs profit
- Hajipur: ₹30.78 lakhs loss
Cash Flow Statement (Half Year Ended September 30, 2026)
- Net cash from operating activities: ₹860.02 lakhs
- Net cash used in investing activities: ₹39.50 lakhs
- Net cash used in financing activities: ₹588.48 lakhs
- Net increase in cash: ₹232.03 lakhs
- Cash equivalents at end: ₹673.18 lakhs
Audit Qualifications and Impact
Statutory auditors M/s. S N Shah & Associates LLP issued a qualified opinion with two main qualifications:
1. Doubtful Debts Provision: Trade receivables of ₹308.06 lakhs include doubtful debts of ₹108.06 lakhs for which no provision has been made. This results in overstatement of profit and shareholders' funds by ₹108.06 lakhs.
2. Foreign Exchange Compliance: Monetary items denominated in foreign currencies have not been restated at period-end exchange rates as required by Ind AS 21, resulting in potential overstatement/understatement of financial items.
Quantified Impact of Qualifications:
- Total Expenditure: Understated by ₹108.06 lakhs (₹5,721.66 lakhs vs ₹5,829.72 lakhs adjusted)
- Net Profit: Overstated by ₹108.06 lakhs (₹406.23 lakhs vs ₹298.17 lakhs adjusted)
- EPS: Overstated by ₹0.45 (₹1.68 vs ₹1.23 adjusted)
- Total Assets: Overstated by ₹108.06 lakhs (₹15,191.63 lakhs vs ₹15,083.57 lakhs adjusted)
- Net Worth: Overstated by ₹108.06 lakhs (₹10,913.78 lakhs vs ₹10,805.72 lakhs adjusted)
Management's View:
The company has taken legal recourse for recovery and is hopeful of recovery in the coming financial year. For foreign exchange items, management deemed the impact not material enough to affect profitability significantly.