Regulatory Compliance Update

JTL Defence Limited submitted a clarification letter to BSE Limited on September 13, 2026 regarding their earlier disclosure dated July 28, 2026. The company received a query from the Exchange stating that the Limited Review Report for consolidated results was not in the format prescribed by SEBI, specifically missing details required under Point No. 4 of Securities and Exchange Board of India Circular No. CIR/CFD/CMD1/44/2019 dated March 29, 2019.

The company is re-uploading the revised Limited Review Report incorporating the required details under Point No. 4. Except for this inclusion, no other changes have been made to the previously submitted disclosure or financial results. The company requested BSE to disregard the earlier disclosure dated July 28, 2026 and take the revised disclosure on record.

Standalone Financial Results for Quarter Ended June 30, 2026

Income Statement Highlights:

  • Revenue from operations: ₹2,124.47 lakh (Unaudited)
  • Other Income: ₹0.00 lakh
  • Total Income: ₹2,124.47 lakh
  • Cost of Material Consumed: ₹1,574.24 lakh
  • Employee benefit expense: ₹14.12 lakh
  • Finance cost: ₹91.30 lakh
  • Depreciation and amortization expense: ₹397.62 lakh
  • Other Expenditure: ₹146.71 lakh
  • Total expenses: ₹2,367.08 lakh
  • Loss from operations before tax: ₹(242.60) lakh
  • Tax expense: ₹24.56 lakh (Deferred Tax)
  • Net Loss after tax: ₹(267.16) lakh
  • Total Comprehensive Loss: ₹(197.22) lakh

Key Metrics:

  • Paid Up Equity Share Capital (Face Value ₹10 each): ₹1,052.63 lakh
  • Basic EPS: ₹(2.54)
  • Diluted EPS: ₹(2.54)

Notes to Standalone Results:

1. Financial results prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by Audit Committee, approved by Board on July 28, 2026.

2. Company operates in manufacturing of all kinds of metals and metal products with one reportable segment.

3. Fixed assets were revalued in March 2026. Depreciation expense for the quarter includes ₹277.90 lakh attributable to the revalued portion and ₹119.72 lakh attributable to historical cost. Excluding the additional depreciation of ₹277.90 lakh from revaluation, Profit After Tax would have been ₹10.74 lakh. The additional depreciation will be adjusted against Revaluation Reserve.

4. Company has not discontinued any operations during the period.

5. Previous period figures have been re-grouped/rearranged/restated for comparability.

Consolidated Financial Results for Quarter Ended June 30, 2026

Income Statement Highlights:

  • Revenue from operations: ₹2,124.47 lakh (Unaudited)
  • Other Income: ₹0.00 lakh
  • Total Income: ₹2,124.47 lakh
  • Total expenses: ₹2,367.08 lakh
  • Loss from operations before tax: ₹(242.60) lakh
  • Tax expense: ₹24.56 lakh (Deferred Tax)
  • Net Loss after tax: ₹(267.16) lakh
  • Total Comprehensive Loss: ₹(197.22) lakh

Key Metrics:

  • Paid Up Equity Share Capital (Face Value ₹10 each): ₹1,052.63 lakh
  • Basic EPS: ₹(2.54)
  • Diluted EPS: ₹(2.54)

Notes to Consolidated Results:

1. Financial results prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by Audit Committee, approved by Board on July 28, 2026.

2. Parent company operates in manufacturing of all kinds of metals and metal products with one reportable segment.

3. Fixed assets were revalued in March 2026. Excluding additional depreciation of ₹277.90 lakh from revaluation, Profit After Tax would have been ₹10.74 lakh. Additional depreciation will be adjusted against Revaluation Reserve.

4. Financial information/results of certain subsidiary(ies) and associate(s) were not available as of the approval date. Consolidated results prepared without incorporating financial information of RCI World Trade Link DMCC, Dubai (subsidiary) and ACE Matrix Solutions Private Limited and Metalrod Private Limited (associate companies). Impact not ascertainable.

5. Parent company has not discontinued any operations during the period.

6. Previous period figures have been re-grouped/rearranged/restated for comparability.

Auditor's Emphasis of Matter

R. Bansal & Co., Chartered Accountants, included three emphasis matters in their review report:

a) Recovery of Financial Assets:

Certain financial assets (trade receivables, debtors, securities and other recoveries) outstanding at the time of Insolvency Resolution Proceedings are being actively followed up for recovery during FY 2026-27. If balances remain unrecovered, appropriate adjustments, write-offs or provisions will be made. Ultimate realization depends on successful recovery efforts.

b) Notices from Taxation Authorities and Immunity under NCLT Order:

Company has received various tax notices pertaining to periods prior to NCLT order approving Resolution Plan. Management believes these notices fall within immunity granted under NCLT order. During Corporate Insolvency Resolution Process (completed December 8, 2025), Resolution Professional responded to notices invoking moratorium under Section 14 of IBC 2016. Outcome and impact not presently ascertainable.

c) Long-Standing Investments - Pending Confirmations and Recoverability:

Company holds investments in equity shares of Ace Matrix Solutions Limited, Kay Exim Private Limited, and MetalRod Private Limited aggregating ₹1,186.17 lakh as at June 30, 2026. Due to disruption from CIRP, management unable to obtain latest audited financial statements or confirmations. Investments carried at existing book values. Management is re-establishing communication and taking recovery steps during FY 2026-27. If unable to obtain confirmations or effect recovery, appropriate provisions for diminution/impairment/write-off will be considered. Impact not presently ascertainable.

Corporate Insolvency Resolution Process Background

The document indicates that JTL Defence Limited was under Corporate Insolvency Resolution Process (CIRP) before NCLT during previous financial year, which was completed on December 8, 2025. Operations were substantially disrupted during this period, and the company has resumed full operations during the quarter under review.