Key Financial Figures (Standalone)
Income Statement for Quarter Ended June 30, 2026 (₹ in Lakhs):
- Revenue from operations: 7,938.24 (vs. 4,585.32 in Q1 FY26; 6,484.27 in Q4 FY26)
- Other income: 37.53 (vs. 2.61 in Q1 FY26; 15.38 in Q4 FY26)
- Total Income: 7,975.76 (vs. 4,587.93 in Q1 FY26; 6,499.64 in Q4 FY26)
- Cost of materials consumed: 4,059.68 (vs. 24.85 in Q1 FY26; 5,484.74 in Q4 FY26)
- Purchases of Stock-in-Trade: 3,642.58 (vs. 4,674.64 in Q1 FY26; 1,123.16 in Q4 FY26)
- Changes in inventories: (571.16) (vs. (210.24) in Q1 FY26; (841.48) in Q4 FY26)
- Employee benefits expense: 92.21 (vs. 16.27 in Q1 FY26; 87.80 in Q4 FY26)
- Finance costs: 423.93 (vs. 83.31 in Q1 FY26; 66.15 in Q4 FY26)
- Depreciation and amortization: 9.18 (vs. 8.79 in Q1 FY26; 8.55 in Q4 FY26)
- Other expenses: 147.06 (vs. 23.37 in Q1 FY26; 362.82 in Q4 FY26)
- Total expenses: 7,803.47 (vs. 4,621.00 in Q1 FY26; 6,291.74 in Q4 FY26)
- Profit Before Tax: 172.30 (vs. loss of 33.07 in Q1 FY26; 207.91 in Q4 FY26)
- Tax expense (Deferred tax): 43.63 (vs. deferred tax credit of 8.31 in Q1 FY26; 56.16 in Q4 FY26)
- Profit After Tax: 128.67 (vs. loss of 24.76 in Q1 FY26; 138.61 in Q4 FY26)
Capital Structure and Profitability:
- Paid-up equity share capital (Face Value ₹10): ₹401.73 lakhs (unchanged from previous periods)
- Reserves excluding revaluation reserve (as of March 31, 2026): ₹3,602.44 lakhs
- Earnings per share (Basic): ₹3.20 (vs. loss of ₹0.62 in Q1 FY26; ₹3.45 in Q4 FY26)
- Earnings per share (Diluted): ₹3.20 (vs. loss of ₹0.62 in Q1 FY26; ₹3.45 in Q4 FY26)
Consolidated Results
Consolidated financial results include the company's share of profit/(loss) from its associate, Calvin Divine Enterprise LLP. The consolidated figures are materially identical to the standalone figures for the quarter, with a minor adjustment for share of loss from associates of ₹0.00024 lakhs.
- Consolidated Profit After Tax: ₹128.67 lakhs (vs. loss of ₹24.76 lakhs in Q1 FY26; ₹138.61 lakhs in Q4 FY26)
- Consolidated EPS (Basic & Diluted): ₹3.20
Auditor's Review and Key Emphasis Matter
The statutory auditors, S N Shah & Associates, issued a limited review report with an emphasis of matter regarding the company's investments in two partnership firms.
- The outstanding balance in current and fixed capital accounts as of June 30, 2026, is ₹24.44 Crores (vs. ₹20.94 Crores as of March 31, 2026).
- This balance constitutes 16.46% of the company's total assets (vs. 14.76% as of March 31, 2026).
- As per the partnership deeds, no interest is receivable on these capital investments.
- Specifically, ₹24.01 Crores (vs. ₹20.51 Crores as of March 31, 2026) invested in one firm has been utilized for granting advances to initiate a joint venture and for excess capital withdrawal of a few partners.
- The said firm has not commenced the intended joint venture and has not recovered the advances.
- The auditors highlighted a material recoverability risk on these assets, which could have a significant impact on the company's financial position. Their report is not modified for this matter.
Notes to Financial Results
1. The results were reviewed by the Audit Committee and approved by the Board on August 12, 2026.
2. Figures for the quarter ended March 31, 2026, are balancing figures between audited annual figures and previously published unaudited year-to-date figures.
3. The financial results are prepared in accordance with Indian Accounting Standards (Ind-AS).
4. The company's operations are reported based on geographic segments (Mumbai and Bhavnagar) as evaluated by the Chief Operating Decision Maker (CODM).
5. The consolidated financial statements are prepared in accordance with Ind AS 110 and include Calvin Divine Enterprise LLP.
6. Previous year figures have been regrouped/reclassified for comparability.
Governance and Signatories
The results were signed by Rajeev Reniwal (Managing Director, DIN: 00034264) and Sweety Reniwal (Director, DIN: 00041853). The company secretary and compliance officer is Diana Palia (Membership no. A40554).