Inducto Steel Limited held a Board of Directors meeting on November 06, 2026, which commenced at 04:00 pm and concluded at 04:45 pm. The Board approved the unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2026, pursuant to Regulation 30 and Regulation 33 of SEBI Listing Regulations.

Financial Performance Highlights

Standalone Results (Quarter Ended September 30, 2026):

  • Revenue from operations: ₹7,932.32 lakh
  • Total income: ₹7,962.00 lakh
  • Profit before tax: ₹403.75 lakh
  • Tax expense: ₹104.87 lakh (Current tax: ₹70.33 lakh, Deferred tax: ₹34.54 lakh)
  • Profit after tax: ₹298.87 lakh
  • Basic and diluted EPS: ₹7.44 per share (face value ₹10 each)

Standalone Results (Half Year Ended September 30, 2026):

  • Revenue from operations: ₹15,870.56 lakh
  • Total income: ₹15,937.76 lakh
  • Profit before tax: ₹576.04 lakh
  • Tax expense: ₹148.50 lakh (Current tax: ₹70.33 lakh, Deferred tax: ₹78.17 lakh)
  • Profit after tax: ₹427.54 lakh
  • Basic and diluted EPS: ₹10.64 per share

Year-over-Year Comparison (Standalone Q2):

  • Revenue increased 265% from ₹2,189.80 lakh in Q2 FY26 to ₹7,962.00 lakh in Q2 FY27
  • Profit after tax improved from loss of ₹(74.54) lakh in Q2 FY26 to profit of ₹298.87 lakh in Q2 FY27

Consolidated Results:

Consolidated results include Calvin Divine Enterprise LLP (associate) and show minimal differences from standalone results, with share of loss from associate at ₹0.00023 lakh for the quarter.

Financial Position (Standalone)

Assets as of September 30, 2026:

  • Total assets: ₹11,909.67 lakh (vs ₹14,192.58 lakh as of March 31, 2026)
  • Non-current assets: ₹2,816.71 lakh
  • Current assets: ₹9,092.96 lakh
  • Inventories: ₹3,080.74 lakh
  • Trade receivables: ₹1,531.76 lakh
  • Cash and cash equivalents: ₹27.46 lakh
  • Other current assets: ₹4,453.01 lakh

Liabilities and Equity as of September 30, 2026:

  • Equity share capital: ₹401.73 lakh
  • Other equity: ₹4,029.98 lakh
  • Total equity: ₹4,431.70 lakh
  • Non-current liabilities: ₹24.16 lakh
  • Current liabilities: ₹7,453.80 lakh
  • Borrowings: ₹4,620.53 lakh
  • Trade payables: ₹40.34 lakh
  • Other financial liabilities: ₹22.40 lakh
  • Other current liabilities: ₹2,681.91 lakh
  • Provisions: ₹35.73 lakh
  • Current tax liabilities: ₹52.89 lakh

Cash Flow Statement (Standalone)

  • Net cash used in operating activities: ₹(5,355.11) lakh
  • Net cash from investing activities: ₹45.29 lakh
  • Net cash from financing activities: ₹3,214.92 lakh
  • Net decrease in cash and cash equivalents: ₹(2,094.91) lakh
  • Cash and cash equivalents at end: ₹27.46 lakh (vs ₹2,122.36 lakh at beginning)

Segment Information

The company operates in two geographic segments:

Mumbai Segment (Q2 FY27):

  • Revenue: ₹2,666.75 lakh
  • Segment result: ₹113.30 lakh

Bhavnagar Segment (Q2 FY27):

  • Revenue: ₹5,354.90 lakh
  • Segment result: ₹346.87 lakh

Total segment assets: ₹11,909.67 lakh

Total segment liabilities: ₹7,477.97 lakh

Auditor's Qualifications

The statutory auditors, S N Shah & Associates LLP, issued a limited review report with the following key observations:

1. The company has invested ₹20.69 crore in two partnership firms (₹20.94 crore as of March 31, 2026), constituting 17.38% of total assets

2. No interest is receivable on these capital investments as per partnership deeds

3. ₹20.26 crore invested in one firm has been utilized for granting advances for initiating joint ventures and excess capital withdrawal of few partners

4. The firm has neither commenced any joint venture as intended nor recovered advances granted for starting joint ventures

5. Significant recoverability risk exists which could impact the company's financial position

The auditors' report is not modified in respect of these matters.

Notes to Financial Results

1. The results were reviewed by the Audit Committee and approved by the Board on November 06, 2026

2. Figures for the quarter are balancing figures between half-year and previously published quarter results

3. Financial results prepared in accordance with Ind-AS

4. Segment reporting based on geographic segments (Mumbai and Bhavnagar)

5. Consolidated financial statements include Calvin Divine Enterprise LLP

6. Previous year figures have been regrouped/reclassified for comparability