Board Meeting Details

The Board of Directors meeting was held on Monday, August 17, 2026, commencing at 03:45 PM and concluding at 04:30 PM. The board approved the Audited Financial Results (Standalone and Consolidated) with the Auditors Report.

Auditor's Report - Qualified Opinion

The statutory auditors, Venkatesh & Co, issued a qualified opinion on both consolidated and standalone financial results citing several issues:

Consolidated Basis for Qualified Opinion:

1. Note No. 11-A, 8-B and 10 regarding Loans, Other Current Asset and Trade Receivable wherein balances are subject to confirmation and reconciliation. Consequential impact unascertainable.

2. Two subsidiaries - Matrix Boilers Private Limited and Kniss Laboratories Private Limited - compiled accounts based on Indian GAAP instead of Ind AS. Impact on consolidated Profit and Loss account not ascertainable.

3. For subsidiary HSL Prime Properties Private Limited, auditors noted lack of balance confirmations for trade creditors aggregating to ₹61.82 lakhs (approximately 41% of total liabilities).

Standalone Basis for Qualified Opinion:

1. Note No. 8-C, 8-A and 10 regarding Loans, Other Current Asset and Trade Receivable wherein balances are subject to confirmation and reconciliation. Consequential impact unascertainable.

Subsidiaries and Associates

The consolidation includes financial results of multiple entities:

  • IBL Health Care Limited (Subsidiary)
  • HSL Agri Solutions Limited (Subsidiary)
  • HSL Prime Properties Private Limited (Subsidiary)
  • Healthway India Private Limited (Step Down Subsidiary)
  • Kniss Laboratories Private Limited (Step Down Subsidiary)
  • Dindigul Farm Products Limited (Subsidiary - 31.34%)
  • Matrix Boilers Private Limited (Subsidiary)
  • IBL Investments Limited (Subsidiary)
  • IBL Social Foundation (Subsidiary)

Consolidated Financial Performance (FY2026)

Income Statement:

  • Total Income: ₹14,240.35 lakhs (FY2025: ₹13,335.43 lakhs)
  • Revenue from Operations: ₹13,783.12 lakhs (FY2025: ₹13,022.84 lakhs)
  • Other Income: ₹457.22 lakhs (FY2025: ₹312.58 lakhs)
  • Total Expenses: ₹14,210.36 lakhs (FY2025: ₹13,909.78 lakhs)
  • Profit before tax: ₹29.99 lakhs (FY2025: Loss of ₹574.36 lakhs)
  • Tax Expense: ₹5.45 lakhs
  • Deferred Tax: ₹(191.49) lakhs
  • Net Profit: ₹216.03 lakhs (FY2025: Loss of ₹610.76 lakhs)
  • Other Comprehensive Income: ₹0.78 lakhs
  • Total Comprehensive Income: ₹216.81 lakhs (FY2025: Loss of ₹613.37 lakhs)

Earnings Per Share:

  • Basic EPS: ₹0.48 (FY2025: ₹(1.35))
  • Diluted EPS: ₹0.48 (FY2025: ₹(1.35))

Balance Sheet (as at March 31, 2026):

  • Total Assets: ₹25,342.68 lakhs (FY2025: ₹26,816.55 lakhs)
  • Equity Share Capital: ₹4,553.63 lakhs
  • Total Equity: ₹10,208.41 lakhs (FY2025: ₹9,991.60 lakhs)
  • Non-current liabilities: ₹5,836.11 lakhs (FY2025: ₹6,576.58 lakhs)
  • Current liabilities: ₹9,298.16 lakhs (FY2025: ₹10,248.37 lakhs)

Standalone Financial Performance (FY2026)

Income Statement:

  • Total Income: ₹2,611.03 lakhs (FY2025: ₹4,128.51 lakhs)
  • Revenue from Operations: ₹2,189.78 lakhs (FY2025: ₹3,776.91 lakhs)
  • Other Income: ₹421.25 lakhs (FY2025: ₹351.60 lakhs)
  • Total Expenses: ₹2,490.57 lakhs (FY2025: ₹4,063.88 lakhs)
  • Profit before tax: ₹120.46 lakhs (FY2025: ₹64.63 lakhs)
  • Tax Expense: ₹30.44 lakhs
  • Deferred Tax: ₹20.05 lakhs
  • Net Profit: ₹69.97 lakhs (FY2025: ₹144.63 lakhs)
  • Total Comprehensive Income: ₹69.97 lakhs (FY2025: ₹144.63 lakhs)

Earnings Per Share:

  • Basic EPS: ₹0.15 (FY2025: ₹0.32)
  • Diluted EPS: ₹0.15 (FY2025: ₹0.32)

Balance Sheet (as at March 31, 2026):

  • Total Assets: ₹12,192.53 lakhs (FY2025: ₹13,067.77 lakhs)
  • Equity Share Capital: ₹4,553.63 lakhs
  • Total Equity: ₹5,603.12 lakhs (FY2025: ₹5,533.15 lakhs)
  • Non-current liabilities: ₹2,705.36 lakhs (FY2025: ₹1,386.51 lakhs)
  • Current liabilities: ₹3,884.05 lakhs (FY2025: ₹6,148.11 lakhs)

Quarterly Performance (Consolidated)

  • Q4 FY26: Net Loss of ₹111.19 lakhs
  • Q3 FY26: Net Profit of ₹14.25 lakhs
  • Q2 FY26: Net Loss of ₹831.92 lakhs
  • Q1 FY26: Net Profit of ₹29.99 lakhs

Other Matters

  • The consolidated financial results include figures for five subsidiaries and one step-down subsidiary audited by other auditors, representing total assets of ₹17,128.01 lakhs and total revenues of ₹11,335.73 lakhs.
  • One step-down subsidiary with total assets of ₹311.43 lakhs and total revenues of ₹448.85 lakhs was certified by management without audit.
  • The financial results include the quarter ended March 31, 2026 as the balancing figure between audited full year and published unaudited year-to-date figures up to the third quarter.
  • No investor complaints were received during the quarter.

Disclosure and Availability

The financial results have been forwarded to the Bombay Stock Exchange and are available on the company's website (www.indrayani.com) and BSE website.