Company and Document Overview

Document Type: Annual Report 2025-26 and Consolidated Financial Statements submitted pursuant to SEBI Listing Regulations

Financial Performance Highlights

Revenue Performance:

  • Revenue from operations: ₹314.30 crore (FY25-26) vs ₹237.84 crore (FY24-25) - 32.15% growth
  • Other income: ₹5.63 crore (FY25-26) vs ₹4.37 crore (FY24-25)
  • Total revenue: ₹319.93 crore (FY25-26) vs ₹242.21 crore (FY24-25)

Profitability:

  • Profit before exceptional items and tax: ₹44.30 crore (FY25-26) vs ₹33.21 crore (FY24-25) - 33.39% growth
  • Exceptional items: (₹0.82) crore relating to past service cost gratuity under new Labour Code
  • Profit before tax: ₹43.48 crore (FY25-26) vs ₹33.21 crore (FY24-25)
  • Total tax expense: ₹7.94 crore (FY25-26) vs ₹6.31 crore (FY24-25)
  • Profit after tax: ₹35.54 crore (standalone) and ₹35.48 crore (consolidated) - 32% growth
  • Basic EPS: ₹27.85 (FY25: ₹23.22)

Balance Sheet Position (as at 31 March 2026):

  • Total assets: ₹374.47 crore (FY25: ₹319.67)
  • Property, plant and equipment: ₹84.43 crore (FY25: ₹60.66)
  • Inventories: ₹89.43 crore (FY25: ₹72.39)
  • Trade receivables: ₹81.53 crore (FY25: ₹70.87)
  • Cash and cash equivalents: ₹11.45 crore (FY25: ₹1.53)
  • Total equity: ₹292.49 crore (FY25: ₹256.26)
  • Borrowings: ₹36.56 crore (FY25: ₹23.12)

IPO Proceeds Utilization

The company completed its IPO on September 09, 2024, issuing 31,74,416 equity shares at ₹529 per share

  • Total IPO expenses: ₹17.50 crore
  • Net IPO proceeds: ₹121.24 crore
  • Utilization as of 31 March 2026:
  • New facility in Tamil Nadu: ₹28.43 crore utilized of ₹37.00 crore allocated
  • Equipment purchase in Maharashtra: ₹9.34 crore utilized of ₹11.07 crore allocated
  • Debt repayment: ₹45.43 crore fully utilized
  • General corporate purposes: ₹0.92 crore utilized of ₹27.74 crore allocated
  • Unutilized amount of ₹35.98 crore temporarily invested in fixed deposits

Annual General Meeting Details

Meeting Date: July 1, 2026 at 3:30 PM IST

Venue: Through Video Conferencing/OAVM

Ordinary Business:

1. Adoption of audited standalone and consolidated financial statements for FY25-26

2. Re-appointment of Mr. Balkishan Jalan as Whole-time Director

Special Business:

3. Re-appointment of Ms. Neha Rajen Gada as Independent Director for second term

4. Re-appointment of Mr. Snehal Bhupendra Shah as Independent Director for second term

5. Re-appointment of Mr. Sudhir Tokarshi Gosar as Independent Director for second term

6. Ratification of remuneration of cost auditors at ₹100,000 plus taxes for FY26-27

Operational Highlights

Manufacturing Facilities:

1. DSS facility at Wada, Palghar, Maharashtra

2. CSS and SFS facility at Wada, Palghar, Maharashtra

3. High Tensile Fasteners facility at Vallam-Vadagal, SIPCOT, Sriperumbudur, Tamil Nadu

Market Presence:

  • 175+ customers across multiple industries
  • Exports to 25+ countries with export revenue of ₹111.51 crore (35.47% of total revenue)
  • One customer represented 15.97% of total revenue

Capacity Expansion:

  • New solar power project of 1.8 MW near Nanded, Maharashtra under implementation
  • Chennai plant enhancement for high tensile fasteners and hex bolts

Corporate Governance and Compliance

Board Composition: 8 Directors (4 Independent, 1 Non-Executive Non-Independent, 3 Executive)

CSR Expenditure: ₹0.54 crore on education, rural sports promotion, healthcare, art and culture

Auditors: All auditors provided unmodified opinions with no qualifications or adverse remarks

Regulatory Compliance: No material orders passed by regulators or courts, no frauds reported

Subsidiaries and Associates

Subsidiaries:

1. Gala Springs LLP (India)

2. Gala Precision Components (Shanghai) Private Limited (China) - Step-down subsidiary

Financials of Subsidiaries:

  • Share of loss in LLP: ₹0.28 crore (FY25-26) vs ₹0.24 crore (FY24-25)
  • No associate companies or joint ventures

Forward-Looking Statements and Risk Factors

The Management Discussion and Analysis contains forward-looking statements that involve risks and uncertainties. Key opportunities include moving from component supply to application-specific solutions, increasing wallet share from existing customers, and capturing emerging technology applications. Threats include global economic uncertainty, trade policy risks, raw material price volatility, and competition from domestic and international players.