Revenue from operations: ₹295.879 million (₹29.59 crore) for FY 2025-26, compared to ₹69.770 million (₹6.98 crore) in previous year - increase of 324.08%
EBITDA: ₹19.697 million (₹1.97 crore), up 30.45% YoY (excludes working-capital adjustment for changes in inventories of WIP)
Profit After Tax: ₹8.389 million (₹0.84 crore), up 81.03% YoY
Net Worth: ₹266.451 million (₹26.65 crore), up 30.29% YoY
Operating Cost Composition: Purchase of Materials Consumed 59.5%, Procurement of Services 26.2%, Other Expenses 6.9%, Employee Benefit Expenses 5.1%, Depreciation & Amortisation 2.1%, Finance Costs 0.2%
Basic & Diluted EPS: ₹0.78 per share (previous year: ₹0.53)
Current Ratio: 4.1 times (previous year: 14.57 times)
Debt-Equity Ratio: 0 (company remained debt-free)
Capital Structure Changes
Authorized Share Capital: Increased from ₹12.00 crore to ₹20.00 crore during FY 2025-26
Paid-up Share Capital: Increased from ₹8.82 crore to ₹10.75 crore by issue and allotment of 1,930,000 equity shares on preferential basis pursuant to conversion of warrants
Warrants: 19,30,000 warrants converted into equity shares; 50,000 share warrants forfeited due to non-payment
Dematerialization: 1,05,30,730 equity shares (97.96% of equity share capital) dematerialized as of March 31, 2026
Business Developments
Post-year-end Order: Received order valued at approximately ₹37.75 crore for signalling and telecommunication works associated with Motumari–Vishnupuram Doubling Project
Cumulative Order Book: Approximately ₹70 crore pending orders providing business visibility
Primary Revenue Vertical: Railway Signalling & Telecom (S&T) contributed 74% of FY26 revenue through the "Railone" project
Technology & GIS Services: Scanning and Digitisation Services business grew 5.2% to ₹6.58 crore
Corporate Developments
Board Composition Changes:
Mr. Rajeev Ramchandra Padhye resigned from Directorship w.e.f April 28, 2025
Mr. Mridul Tripathi appointed as Chief Financial Officer w.e.f April 29, 2025
Mrs. Srivalli Tirokuvalluri appointed as Additional Director (Non-executive, Non-Independent) w.e.f August 11, 2025
Mr. Bhanu Dinesh Alava appointed as Additional Director (Non-executive, Independent) w.e.f August 11, 2025
Mr. Veera Venkata Ramana Varma Mudunuri re-designated as Additional Director (Non-executive, Non-Independent) w.e.f August 11, 2025
Subsidiaries: Incorporated Hiliks Technologies Inc. and Hiliks Greens Private Limited during the financial year
AGM Notice and Resolutions
41st Annual General Meeting: Scheduled for September 25, 2026 at 1:00 PM through Video Conferencing/OAVM
Ordinary Business:
Adoption of audited standalone and consolidated financial statements for FY 2025-26
Reappointment of Mr. Veera Venkata Ramana Varma Mudunuri as director retiring by rotation
Reappointment of Mrs. Srivalli Tirokuvalluri as director retiring by rotation
Special Business:
Reappointment of Mr. Sandeep Copparapu as Whole-Time Director for second term of 3 years from August 21, 2027 to August 20, 2030 at remuneration of up to ₹3,00,000 per month
Appointment of M/s Jain Alok & Associates as Secretarial Auditor for 5 years from FY 2026-27 to FY 2030-31 at remuneration of ₹75,000 per annum
Regulatory Compliance and Observations
Secretarial Audit Report by M/s Jain Alok & Associates noted several observations:
Delayed payment of Annual Listing Fees to BSE and MSEI for FY 2025-26
Delayed submission of intimations regarding sub-contract order (1 day delay in pdf, 50 days in XBRL)
Delayed filing of intimation regarding incorporation of subsidiary (67 days delay)
Publication of financial results only in English language in both newspapers instead of English and Marathi
Vacancy in CFO position from April 4, 2023 to April 28, 2025
Vacancy in women director position from December 13, 2024 to August 10, 2025
Delayed filing of certain ROC forms
Management Assurance: Company has taken note of observations and shall ensure timely compliance in future
Dividend and Reserves
Dividend: No dividend recommended for FY 2025-26 as profits need to be retained for business operations and working capital requirements
Reserves: No amount transferred to general reserves
Corporate Governance
Compliance: SEBI LODR Regulations became applicable from December 10, 2025; compliance reported for period from December 2025 to March 2026
Board Meetings: 8 meetings held during FY 2025-26
Committees: Audit Committee, Nomination & Remuneration Committee, and Stakeholders' Relationship Committee constituted and functional
Whistle Blower Policy: Implemented with no complaints received during the year
Related Party Transactions
No material related party transactions requiring disclosure in Form AOC-2
Transactions with related parties are in compliance with Sections 177 and 188 of Companies Act, 2013
Risk Management
Company has Board-monitored risk management framework covering business, financial, operational and compliance risks
Focus on project-execution, concentration, working-capital, cybersecurity and regulatory risks
Human Resources
Employee benefit expenses: ₹16.861 million, up 80.0% YoY due to scaling up of execution teams
Total employees: 24 as of March 31, 2026
Industrial relations remained cordial throughout the year
