Company Overview
Document Types: Annual Report, Notice of 119th AGM, and Independent Auditor's Report
Document Dates: 26th August 2026 and 19th May 2026
Financial Performance Summary
Standalone Performance (FY26):
- Revenue from Operations: ₹200.5 crore (FY25: ₹217.3 crore)
- Profit Before Tax: ₹37.2 crore (72% increase from FY25 ₹21.6 crore)
- Profit After Tax: ₹30.4 crore (89% increase from FY25 ₹16.1 crore)
- Earnings Per Share: ₹27.33 (FY25: ₹15.59)
Consolidated Performance (FY26):
- Revenue from Operations: ₹24.66 crore (3.4% growth from FY25 ₹23.85 crore)
- Profit After Tax: ₹3.34 crore (94% increase from continuing operations)
- Total Equity: ₹15.74 crore (101% increase)
- Basic EPS from Continuing Operations: ₹29.98
Exceptional Items & Strategic Divestments
Exceptional gain of ₹32.4 crore (standalone) / ₹35.16 crore (consolidated) primarily comprising:
- Gain on sale of investment in subsidiary JECL Engineering: ₹34.0 crore / ₹36.77 crore
- Brand assignment income: ₹1.0 crore / ₹1.0 crore
- Provision for defined benefit obligations: ₹2.6 crore expense / ₹2.61 crore expense
Completed Divestments:
1. JECL Engineering Limited: Sold 100% shareholding on 24th March 2026 (Material Handling Division)
2. Suryavayu Renewable Energy Solutions Private Limited: Exited 50% joint venture investment on 30th March 2026
3. Josts Foundation: Sold wholly owned subsidiary on 8th October 2025
Dividend Declaration & Capital Actions
Dividend:
- Final Dividend: ₹1.25 per equity share (125%)
- Special Dividend: ₹3.75 per equity share (375%)
- Total Dividend: ₹5.00 per equity share (500%)
- Record Date: 11th September 2026
- Payment Date: On or after 22nd September 2026
Rights Issue (September 2025):
- Issue Size: 18,47,913 equity shares
- Issue Price: ₹270 per share
- Amount Raised: ₹49.9 crore
- Ratio: 5 shares for every 27 shares held
Auditor Report & Governance
Auditor: Shah Gupta & Co. issued unmodified opinion on consolidated financial statements prepared under Ind AS
Subsidiary Coverage: Auditor relied on reports from other auditors for three subsidiaries
CARO Qualification: MHE Rental India Private Limited received qualified CARO report for clause vii(a)
Board Composition: 6 Directors (2 Executive, 3 Independent, 1 Non-Executive Non-Independent)
Management Changes: CFO change with Mr. Pranesh Bhandari resigning and Mr. Kailash Chandra Somani appointed effective 1st April 2026
Segment Performance & Subsidiaries
Engineered Products Division:
- Revenue: ₹134.4 crore (22% growth)
- Profit Before Tax: ₹17.1 crore (13% margin)
Subsidiary Performance:
- MHE Rentals India: Revenue ₹12.8 crore, Loss ₹0.9 crore
- Josts Engineering Inc. (USA): Revenue ₹3.3 crore, Profit ₹0.7 crore
Key Financial Metrics
Standalone Ratios:
- Debt-Equity Ratio: 0.02 (FY25: 0.04)
- Current Ratio: 4.13 (FY25: 1.68)
- Return on Net Worth: 25.05%
- Net Profit Margin: 15.17%
Consolidated Position:
- Total Assets: ₹213.26 crore
- Total Equity: ₹157.36 crore
- Current Liabilities: ₹51.47 crore
Regulatory Compliance & AGM Details
AGM: 18th September 2026 at 2:00 PM via Video Conferencing
Book Closure: 12th to 18th September 2026
Compliance: All applicable provisions of Companies Act 2013 and SEBI Regulations complied with
Contingent Liabilities:
- Bank Guarantees: ₹20.3 crore
- Corporate Guarantees: ₹19.9 crore
- Tax/GST Demands: ₹1.22 crore under dispute
Corporate Initiatives
Thane Land Monetization: Progressing IT/ITES Business Park development to unlock substantial value
CSR Expenditure: ₹30.0 lakh spent on education support and hospital equipment
Internal Controls: Adequate internal financial controls operating effectively across group companies