Financial Results Overview

Continuing Operations (Quarter Ended September 30, 2026)

  • Total Income: Rs 315 lakh (Net revenue from operations)
  • Loss before exceptional items and tax: Rs 191 lakh
  • Loss after tax: Rs 231 lakh
  • Earnings per share (Basic & Diluted): Rs (1.20) per share

Discontinued Operations (Quarter Ended September 30, 2026)

  • Loss before tax: Rs 183 lakh
  • Loss after tax: Rs 184 lakh
  • Earnings per share (Basic & Diluted): Rs (0.96) per share

Consolidated Operations (Quarter Ended September 30, 2026)

  • Total Loss after tax: Rs 415 lakh
  • Earnings per share (Basic & Diluted): Rs (2.16) per share

Half Year Performance (April-September 2026)

Continuing Operations

  • Total Income: Rs 315 lakh
  • Loss after tax: Rs 324 lakh
  • Earnings per share: Rs (1.76) per share

Discontinued Operations

  • Loss after tax: Rs 185 lakh
  • Earnings per share: Rs (1.01) per share

Consolidated Operations

  • Total Loss after tax: Rs 509 lakh
  • Earnings per share: Rs (2.77) per share

Discontinued Operations Details

The company's Nagpur Unit has been classified as a discontinued operation following its slump sale to GTN Engineering (India) Limited.

Transaction Details

  • Sale Agreement Date: October 5, 2026
  • Effective Date: October 1, 2026
  • Sale Consideration: Rs 7,200 lakh (cash)
  • Shareholder Approval: Obtained on September 28, 2026
  • Nature of Transfer: All assets, rights and properties of Nagpur Unit transferred on a going concern basis

Financial Performance of Discontinued Operations (Quarter Ended September 30, 2026)

  • Revenue from operations: Rs 5,551 lakh
  • Other income: Rs 13 lakh
  • Total income: Rs 5,563 lakh
  • Total expenses: Rs 5,088 lakh
  • Loss before exceptional items and tax: Rs 475 lakh
  • Exceptional items: Rs (658) lakh
  • Loss before tax: Rs (183) lakh
  • Loss after tax: Rs (184) lakh

Balance Sheet of Discontinued Operations (As at September 30, 2026)

Assets:

  • Inventories: Rs 2,499.76 lakh
  • Trade Receivables: Rs 1,340.23 lakh
  • Cash and Cash Equivalents: Rs 3,551.87 lakh
  • Other Bank Balances: Rs 194.70 lakh
  • Other Financial Assets: Rs 16.76 lakh
  • Other Current Assets: Rs 427.10 lakh
  • Assets held for sale: Rs 4,200.00 lakh
  • Total Assets: Rs 12,230.42 lakh

Liabilities:

  • Non-current provisions: Rs 200.22 lakh
  • Trade payables to micro/small enterprises: Rs 39.64 lakh
  • Trade payables to other creditors: Rs 433.64 lakh
  • Other current liabilities: Rs 4,308.27 lakh
  • Provisions: Rs 48.65 lakh
  • Total Liabilities: Rs 5,030.42 lakh

Capital Structure Changes

The company allotted 24,59,622 equity shares of face value Rs 10 each at an issue price of Rs 24 per share (including premium of Rs 14 per share), aggregating Rs 590.31 lakh.

Preferential Issue Details

  • Approval: Shareholders' Extraordinary General Meeting held on June 6, 2026
  • Regulatory Compliance: Chapter V of SEBI (ICDR) Regulations, 2018
  • Utilization of Proceeds:
  • Rs 590 lakh for redemption of 0.01% Non-Cumulative Redeemable Preference Shares
  • Balance for general corporate purposes

Share Capital Impact

  • Equity Share Capital: Increased from Rs 1,754.96 lakh (March 31, 2026) to Rs 2,000.00 lakh (September 30, 2026)
  • Other Equity: Rs 5,110.45 lakh (September 30, 2026) compared to Rs 5,512.71 lakh (March 31, 2026)

Exceptional Items

Discontinued Operations

  • Customs duty expense: Rs 163 lakh (including interest of Rs 46 lakh) recognized due to inability to fulfill export obligations under EPCG scheme following the slump sale
  • Impairment loss: Rs 495 lakh on remeasurement of property, plant and equipment to fair value less costs to sell

Previous Year Exceptional Item

  • Labour Codes impact: Rs 118 lakh increase in provision for defined benefit obligations recognized during year ended March 31, 2026

Balance Sheet Position (As at September 30, 2026)

Total Assets: Rs 14,652.27 lakh (including assets held for sale of Rs 12,230.42 lakh)

Continuing Operations Assets:

  • Property, Plant and Equipment: Rs 4,915.21 lakh
  • Capital Work in Progress: Rs 47.35 lakh
  • Income Tax Assets (Net): Rs 111.54 lakh
  • Other Non-Current Assets: Rs 107.94 lakh
  • Inventories: Rs 4,215.12 lakh
  • Trade Receivables: Rs 314.69 lakh
  • Cash and Cash Equivalents: Rs 1,882.81 lakh
  • Other Bank Balances: Rs 377.38 lakh
  • Other Financial Assets: Rs 181.70 lakh
  • Other Current Assets: Rs 14.37 lakh

Equity and Liabilities:

  • Equity Share Capital: Rs 2,000.00 lakh
  • Other Equity: Rs 5,110.45 lakh
  • Borrowings: Rs 2,130.00 lakh
  • Deferred Tax Liabilities: Rs 380.82 lakh
  • Provisions: Rs 342.54 lakh
  • Liabilities associated with discontinued operations: Rs 5,030.42 lakh

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Net cash from operating activities: Rs 8,813.55 lakh
  • Net cash used in investing activities: Rs (7,086.16) lakh
  • Net cash used in financing activities: Rs (221.96) lakh
  • Net increase in cash and cash equivalents: Rs 1,505.43 lakh
  • Cash and cash equivalents at period end: Rs 1,882.81 lakh

Approval Process

  • Review Date: November 12, 2026
  • Reviewed by: Audit Committee and Board of Directors