Board Meeting Details

The Board Meeting commenced at 2:00 PM (IST) and concluded at 6:00 PM (IST) on 28th October 2026.

Matters Approved and Noted

1. Unaudited Financial Results: The Board considered and approved the Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended 30th September 2026, along with the Limited Review Reports issued by the Statutory Auditors, M/s. Rajendra & Co. Chartered Accountants.

2. Change in Constitution of Internal Auditors: The Board noted that M/s. Sharp & Tannan Associates, the internal auditors, converted from a partnership firm to a Limited Liability Partnership (LLPIN: ADC-6382) effective 24th September 2026. There is no change in the audit engagement, and the LLP will continue for the remainder of their appointment tenure.

3. SOP Fines by Stock Exchanges: The Board noted Standard Operating Procedure (SOP) fines of ₹10,000 each levied by BSE Limited and the National Stock Exchange of India Limited for delayed compliance with Regulation 42 of the SEBI Listing Regulations, 2015. The Board deliberated on the matter, emphasized the importance of timely compliance, and noted that appropriate measures shall be implemented to ensure strict adherence to timelines and prevent recurrence.

Key Financial Figures - Standalone (₹ in Lakhs)

Quarter Ended 30-09-2026 (Unaudited):

  • Revenue from Operations: ₹16,699.52
  • Total Income: ₹16,767.31
  • Profit Before Tax: ₹838.66
  • Tax Expense: ₹256.47
  • Profit for the Period: ₹582.19
  • Total Comprehensive Income: ₹661.98
  • Basic EPS: ₹10.92* (not annualized)

Half Year Ended 30-09-2026 (Unaudited):

  • Revenue from Operations: ₹32,264.53
  • Total Income: ₹32,442.51
  • Profit Before Tax: ₹1,721.56
  • Tax Expense: ₹657.34
  • Profit for the Period: ₹1,064.22
  • Total Comprehensive Income: ₹1,241.43
  • Basic EPS: ₹19.95* (not annualized)

Comparative Figures (Audited) for Year Ended 31-03-2026:

  • Revenue from Operations: ₹52,606.17
  • Total Income: ₹53,100.03
  • Profit Before Tax: ₹1,374.08
  • Profit for the Year: ₹892.67
  • Basic EPS: ₹16.74

Key Financial Figures - Consolidated (₹ in Lakhs)

Quarter Ended 30-09-2026 (Unaudited):

  • Revenue from Operations: ₹17,233.55
  • Total Income: ₹17,270.59
  • Profit Before Tax: ₹885.98
  • Tax Expense: ₹248.34
  • Profit for the Period (attributable to owners): ₹637.65
  • Total Comprehensive Income (attributable to owners): ₹717.44
  • Basic EPS: ₹11.96* (not annualized)

Half Year Ended 30-09-2026 (Unaudited):

  • Revenue from Operations: ₹32,916.63
  • Total Income: ₹32,999.72
  • Profit Before Tax: ₹1,727.18
  • Tax Expense: ₹669.70
  • Profit for the Period (attributable to owners): ₹1,057.46
  • Total Comprehensive Income (attributable to owners): ₹1,234.67
  • Basic EPS: ₹19.83* (not annualized)

Comparative Figures (Audited) for Year Ended 31-03-2026:

  • Revenue from Operations: ₹53,532.77
  • Total Income: ₹53,800.65
  • Profit Before Tax: ₹806.37
  • Profit for the Year (attributable to owners): ₹322.04
  • Basic EPS: ₹6.04

Segment Performance - Standalone (₹ in Lakhs)

The Chief Operating Decision Maker (CODM) evaluates performance based on business segments. The reportable segment has been renamed to 'Rubber Recycling' from the preceding quarter.

Quarter Ended 30-09-2026:

  • Rubber Recycling Segment Revenue: ₹16,520.41 (Gross); ₹14,842.15 (Net of GST)
  • Others Segment Revenue: ₹1,705.74 (Gross); ₹1,534.25 (Net of GST)
  • Rubber Recycling Segment Profit (before tax & interest): ₹1,853.94
  • Others Segment Profit (before tax & interest): ₹254.72

Assets and Liabilities - Standalone (₹ in Lakhs)

As at 30-09-2026 (Unaudited):

  • Total Assets: ₹49,694.51
  • Total Equity: ₹20,413.52
  • Total Liabilities: ₹29,280.99
  • Non-Current Borrowings: ₹9,098.28
  • Current Borrowings: ₹12,276.07

As at 31-03-2026 (Audited):

  • Total Assets: ₹47,013.80
  • Total Equity: ₹19,267.93
  • Total Liabilities: ₹27,745.87

Cash Flow - Standalone (₹ in Lakhs)

Half Year Ended 30-09-2026 (Unaudited):

  • Net Cash from Operating Activities: ₹1,698.11
  • Net Cash used in Investing Activities: (₹2,219.47)
  • Net Cash from Financing Activities: ₹444.46
  • Net Decrease in Cash and Equivalents: (₹76.89)

Subsidiaries and Joint Ventures

The consolidated results include the following entities:

  • GRP Circular Solutions Limited (Subsidiary Company)
  • Gripsurya Recycling LLP (Limited liability partnership with majority Stake)

Dividend

During the quarter, the company paid a dividend of ₹3.50 per equity share, amounting to ₹186.67 lakhs for FY 2025-2026, which was approved by shareholders at the AGM held on 23rd July 2026.

Basis of Preparation

The financial results have been prepared in accordance with Indian Accounting Standard (Ind AS) 34, Interim Financial Reporting, prescribed under the Companies Act, 2013.

Auditor's Review

The results were reviewed by the Audit Committee and approved by the Board. The Statutory Auditors, M/s. Rajendra & Co. Chartered Accountants (Firm Regn. No. 108355W), have issued a limited review report stating that based on their review, nothing has come to their attention that causes them to believe that the statement contains any material misstatement.