Board Meeting Outcomes

The Board of Directors meeting was held on November 12, 2026, starting at 04:05 PM and ending at 4:40 PM.

Key decisions taken:

1. Financial Results: Took on record the Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2026.

2. EOU Exit/Debonding: Decided to exit/debond the company's Plant at Unit II (a 100% Export Oriented Unit located at D2, 14, 18 & 19, Tivim Industrial Estate, Mapusa – Goa). The decision was based on a review of current business operations, export orders, and prevailing market conditions. The scheme was previously viable due to high custom duties on imported goods, but subsequent duty reductions have significantly diminished the financial benefits. Post-debonding, the facility will operate as a Domestic Tariff Area (DTA) Unit. The transition is stated to not impact the company's ongoing operations or turnover.

3. Asset Sub-Lease: Decided to sub-lease its unutilized building at Plot 16-C&D (constructed for ₹3.85 crores adjacent to Plot 16-A) at prevailing market rates. The building remained vacant following the COVID-19 pandemic. Management is initiating required licenses and clearances from the Industrial Development Corporation and analyzing current market rates for optimal rental returns. As the investment exceeds the statutory threshold under Section 180(1)(a) of the Companies Act, 2013, this proposal will be submitted to seek shareholder approval.

Standalone Financial Performance (INR in Lakhs)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹679.23
  • Other Income: ₹2.50
  • Total Income: ₹681.73
  • Total Expenses: ₹797.64
  • Loss Before Tax: (₹115.91)
  • Tax Expense: ₹0.00 (Current: ₹0.00, Deferred: ₹0.00, Prior Year Adjustments: ₹0.00)
  • Net Loss for the Quarter: (₹115.91)
  • Other Comprehensive Income (Net of Tax): ₹26.72
  • Total Comprehensive Loss: (₹89.19)
  • Basic & Diluted EPS (₹): (2.30)

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹1,319.12
  • Other Income: ₹49.85
  • Total Income: ₹1,368.97
  • Total Expenses: ₹1,558.82
  • Loss Before Tax: (₹189.85)
  • Tax Expense (Credit): (₹25.53) [From prior year adjustments]
  • Net Loss for the Period: (₹164.32)
  • Other Comprehensive Income (Net of Tax): ₹19.84
  • Total Comprehensive Loss: (₹144.48)
  • Basic & Diluted EPS (₹): (3.26)

Comparative Figures

  • Q2 FY26 (Sep 30, 2025): Net Loss of (₹52.26) lakhs on Revenue of ₹610.64 lakhs.
  • H1 FY26 (Sep 30, 2025): Net Loss of (₹266.56) lakhs on Revenue of ₹1,488.13 lakhs.
  • Full Year FY26 (Mar 31, 2026): Net Loss of (₹356.79) lakhs on Revenue of ₹2,564.41 lakhs. This included an exceptional item of ₹178.99 lakhs related to employee benefit provisions under new labour codes.

Standalone Balance Sheet Highlights (As of Sep 30, 2026)

  • Total Assets: ₹3,422.70 Lakhs (Mar 31, 2026: ₹3,660.11 Lakhs)
  • Equity Share Capital: ₹504.06 Lakhs
  • Other Equity: ₹784.00 Lakhs (Mar 31, 2026: ₹928.48 Lakhs)
  • Total Borrowings: ₹919.25 Lakhs (Non-current: ₹111.75 Lakhs, Current: ₹807.50 Lakhs)

Standalone Cash Flow (H1 FY27)

  • Net Cash Used in Operating Activities: (₹134.99) Lakhs
  • Net Cash from Investing Activities: ₹227.87 Lakhs (primarily from dividend received: ₹184.38 Lakhs)
  • Net Cash Used in Financing Activities: (₹92.88) Lakhs

Consolidated Financial Performance (INR in Lakhs)

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹3,274.58
  • Other Income: ₹62.29
  • Total Income: ₹3,336.87
  • Total Expenses: ₹3,140.31
  • Profit Before Tax & Exceptional Items: ₹196.56
  • Share of Loss from Associate: (₹5.60)
  • Profit Before Tax: ₹190.96
  • Tax Expense: ₹69.29 (Current Tax: ₹69.29)
  • Net Profit for the Quarter: ₹121.67
  • Attributable to Owners of Parent: ₹66.12
  • Attributable to Non-controlling Interest: ₹57.34
  • Total Comprehensive Income: ₹177.41
  • Basic & Diluted EPS (₹): 1.31

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹6,578.55
  • Other Income: ₹134.82
  • Total Income: ₹6,713.37
  • Total Expenses: ₹6,304.98
  • Profit Before Tax & Exceptional Items: ₹408.39
  • Share of Loss from Associate: (₹13.03)
  • Profit Before Tax: ₹395.36
  • Tax Expense: ₹87.25 (Current: ₹112.78, Prior Year Adjustments: (₹25.53))
  • Net Profit for the Period: ₹308.11
  • Attributable to Owners of Parent: ₹166.81
  • Attributable to Non-controlling Interest: ₹141.30
  • Total Comprehensive Income: ₹284.68
  • Basic & Diluted EPS (₹): 3.31

Consolidated Balance Sheet Highlights (As of Sep 30, 2026)

  • Total Assets: ₹13,765.72 Lakhs (Mar 31, 2026: ₹13,216.64 Lakhs)
  • Equity Share Capital: ₹504.06 Lakhs
  • Other Equity: ₹5,002.82 Lakhs
  • Non-controlling Interest: ₹340.67 Lakhs
  • Total Borrowings: ₹1,065.40 Lakhs (Non-current: ₹111.75 Lakhs, Current: ₹953.65 Lakhs)

Subsidiary and Associate Information

The consolidated results include:

  • GKB Ophthalmics Limited (Holding Company)
  • GKB Ophthalmics Products [FZE] (Subsidiary)
  • Lensco - The Lens Company (Subsidiary)
  • Prescription Optical Products LLC (Subsidiary)
  • Prime Ophthalmic Products (PTY) Ltd (Subsidiary – till July 02, 2026)
  • GKB Vision FZC (Associate)
  • GSV Ophthalmics Private Limited (Subsidiary till November 21, 2025)

Note on Closure: Prime Ophthalmic Products (PTY) Ltd (a step-down subsidiary) was closed on July 02, 2026, due to challenges in generating sufficient revenue and to avoid further losses. The investment of ₹43.50 lakhs was written off in Q1 FY27. It was not a material subsidiary.

Auditor Review

Auditor Firm: M S K A & Associates LLP (ICAI Firm Registration No.105047W/W101187)

Review Partner: Akshay Kumawat (Membership No.: 152924)

Conclusion: Based on their review, nothing has come to their attention that causes them to believe that the accompanying Statement contains any material misstatement. The review reports are unmodified.

Additional Notes

  • The financial results are prepared in accordance with Ind AS 34.
  • The results were reviewed by the Audit Committee and approved by the Board.
  • The impact of the new Labour Codes notified on November 21, 2025, is being monitored. An exceptional item of ₹178.99 lakhs was recognized in FY26 related to this.
  • The financial results are available on the BSE website (www.bseindia.com) and the company's website (www.gkb.net).

#GKB Ophthalmics #SEBIDisclosure #RegulatoryCompliance #FinancialResults #Neutral