Key Quantitative Figures - Standalone (₹ in lakhs)

Quarter Ended June 30, 2026 (Q2 FY26):

  • Revenue from Operations: 14,917.82
  • Total Income: 15,123.48
  • Total Expenses: 15,832.20
  • Loss Before Exceptional Items & Tax: (708.72)
  • Exceptional Items: 0.00
  • Loss Before Tax: (708.72)
  • Total Tax Income: (251.19)
  • Net Loss for the Quarter: (457.53)
  • Other Comprehensive Income: 249.85
  • Total Comprehensive Loss: (207.68)
  • Basic & Diluted EPS: (9.27)

Quarter Ended March 31, 2026 (Q1 FY26):

  • Revenue from Operations: 20,004.43
  • Net Profit for the Quarter: 700.68
  • Basic & Diluted EPS: 14.19

Half Year Ended June 30, 2026 (H1 FY26):

  • Revenue from Operations: 34,922.25
  • Net Profit: 243.15
  • Basic & Diluted EPS: 4.92

Comparative Period (Quarter Ended June 30, 2025):

  • Revenue from Operations: 8,211.77
  • Net Profit: 171.92
  • Basic & Diluted EPS: 3.48

Standalone Balance Sheet (as of June 30, 2026):

  • Total Assets: 1,02,511.25
  • Total Equity: 20,931.15
  • Total Liabilities: 81,580.10
  • Paid-up Equity Share Capital: 493.78 (Face Value ₹10 each)

Key Quantitative Figures - Consolidated (₹ in lakhs)

Quarter Ended June 30, 2026 (Q2 FY26):

  • Revenue from Operations: 29,855.94
  • Total Income: 30,114.66
  • Total Expenses: 33,438.98
  • Loss Before Share of Profit, Exceptional Items & Tax: (3,324.32)
  • Share of Profit of a Joint Venture: 41.49
  • Loss Before Exceptional Items & Tax: (3,282.83)
  • Exceptional Items: (239.15) [Reversal]
  • Loss Before Tax: (3,282.83)
  • Total Tax Expense: 232.25
  • Net Loss for the Quarter: (3,136.69)
  • Total Other Comprehensive Income: 361.54
  • Total Comprehensive Loss: (2,775.15)
  • Basic & Diluted EPS: (63.52)

Half Year Ended June 30, 2026 (H1 FY26):

  • Revenue from Operations: 64,307.68
  • Net Loss: (2,400.61)
  • Basic & Diluted EPS: (48.62)

Consolidated Balance Sheet (as of June 30, 2026):

  • Total Assets: 1,49,041.35
  • Total Equity: (9,567.20) [Negative]
  • Total Liabilities: 1,58,608.55

Management Change

Consequent to the resignation of Mr. Marc Dumont, the Board approved the appointment of Mr. Deepak Prabhakar Chindarkar as Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the Company, effective from August 24, 2026.

Brief Profile of Mr. Chindarkar:

  • Seasoned finance leader with over 36 years of experience with the Saint-Gobain Group.
  • Former CFO of Grindwell Norton Ltd. (Nov 2013 - Dec 2023) and concurrently CFO – Saint-Gobain India Region (Feb 2017).
  • Held senior finance leadership roles based in France, Singapore, China, and Australia.
  • Holds a Bachelor of Engineering (Mechanical) from VJTI, a Master of Management Studies (Finance) from Jamnalal Bajaj Institute, and is a Graduate Cost Accountant.
  • Conferred the Financial Express CFO of the Year Award (Medium Enterprises) in 2022.

Acquisition and Corporate Development

During the quarter ended March 31, 2026, the Company acquired 100% shareholding in John Cockerill Metals International SA, Belgium (JCMI), a fellow subsidiary, from its holding company, John Cockerill SA (JCSA), for a total consideration of Euro 29.67 million.

  • A consideration of Euro 5 million (₹5,555 lakhs) was paid during the quarter ended June 30, 2026.
  • The Board and Shareholders approved the issuance of Compulsorily Convertible Preference Shares to JCSA towards settlement of the balance consideration payable.
  • The SPA also provides for the acquisition of shareholding in John Cockerill Industry NA, USA by JCMI on or before December 31, 2026.
  • The transaction is accounted for as a common control business combination, and the consolidated results represent the first-time presentation including JCMI and its subsidiaries.

Exceptional Items

During the quarter and year ended December 31, 2025, the Company recognized an estimated incremental liability of ₹1,140.86 lakhs relating to changes in wage definition under the New Labour Codes.

  • A reversal of ₹239.15 lakhs was recognized during the quarter ended March 31, 2026 (and H1 FY26) due to a revision in employee compensation.

Legal Matter

Pursuant to a notice of arbitration from a customer regarding alleged non-performance of a Cold Rolling Mill (CRM), management is evaluating legal remedies and is confident of defending its position. No significant further impact is expected.

Additional Information

  • The Company has only one business segment: Original Equipment Manufacture and Project Management.
  • Results may fluctuate quarter-to-quarter based on project margins, size, and complexity.
  • The Board meeting commenced at 11:00 AM and concluded at 04:45 PM.