ITI Limited FY26 Results with Disclaimer Audit Opinion

Summary of Key Information:

Reporting Period: Quarter and Year Ended 31st March 2026

Nature of Filing / Announcement: Outcome of Board Meeting under Regulation 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Audit Opinion:

The Statutory Auditor, B.K.Ramadhyani & Co. LLP, issued a Disclaimer of Opinion on both standalone and consolidated financial results due to multiple material weaknesses and inability to obtain sufficient appropriate audit evidence.

Key Financial Highlights [₹ in Lakhs]:

Consolidated Results:

| Revenue from Operations | 62,765 | 2,18,372 | 3,61,642 |

| Other Income | 1,324 | 5,340 | 8,520 |

| Total Income | 64,089 | 2,23,712 | 3,70,162 |

| Total Expenses | 72,457 | 2,39,348 | 3,96,981 |

| Profit/(Loss) before tax | 37,514 | 29,283 | (21,489) |

| Profit/(Loss) for the period | 37,514 | 29,283 | (21,489) |

| EPS (Basic) [₹] | 3.90 | 3.04 | (2.24) |

| Paid up equity share capital | 96,285 | 96,285 | 96,089 |

Standalone Results:

| Profit/(Loss) for the period | 37,536 | 29,279.55 | Not disclosed |

| EPS (Basic) [₹] | 3.90 | 3.04 | Not disclosed |

Exceptional Items [Year Ended 31-03-2026, ₹ in Lakhs]:

Bad debts written off: (30,167.57)
Provision for bad & doubtful debts: (1,440.55)
Provision for Stock: (2,656.59)
Profit on sales of Assets: 83,219.21
Liquidity Damages: (3,883.50)
Creditors Write off: 442.54
Interest on Gratuity & PL: (856.34)
Grant in aid capital- Neft Building: 329.10
Interest on GST TDS: (40.08)
Interest on IT TDS: (30.75)
Total Exceptional Items: 44,915.48

Corporate Actions:

Dividend: Not declared
Share Capital: Paid-up equity share capital of ₹96,285 lakhs (Face value of ₹10/- each)
Debt Write-off: Board approved write-off of ₹30,167.57 lakhs in long-outstanding debtors
Land Sale: Sold 21 acres of land and building for ₹91,431 lakhs, recognizing profit of ₹83,219.21 lakhs
Land Monetization: Board approved disposal of surplus land (10.275 acres + 44.032 acres) to be completed by March 31, 2027

Other Significant Information:

ASCON Project: Contract with Ministry of Defence worth ₹8,280.36 Crore for Army Static Switched Communication Network, Proof of Concept expected by December 31, 2026
Going Concern: Management believes going concern appropriate due to order book of ₹18,63,699 lakhs and government support, but auditors note material uncertainty
Land Issues: 77 acres at Palakkad valuing ₹6,090.31 lakhs resumed by Govt of Kerala, under adjudication in Apex Court
Segment Reporting: Company primarily engaged in telecom equipment business, operating in India as single geographical segment, exempt from segment reporting for defence projects
Inter-unit Transactions: Reconciliation pending, ₹1,748.64 lakhs adjusted in cost of material consumed

Entities in Consolidation:

Includes Mankapur, Raebareli, Srinagar, Naini & Palakkad Units
Associate: India Satcom Private Limited (Share of profit: ₹4 lakhs for year ended 31-03-2026)

Investor Complaints:

Pending at beginning of quarter: Nil
Received during quarter: -
Disposed during quarter: -
Remaining unresolved: Nil