Board Meeting Details

The Board of Directors meeting was held on November 13, 2026, commencing at 15:30 Hours and concluding at 17:00 Hours IST.

Key Approvals

1. Approved the Un-Audited Financial Results along with Limited Review report of the Statutory Auditors for the quarter ended September 30, 2026

2. Appointed Mr. Ninad Shivaji Kadam as Chief Financial Officer of the company w.e.f. November 13, 2026 on recommendation of Nomination and remuneration committee

Financial Results - Standalone (Quarter Ended September 30, 2026)

Income Statement (₹ in Lakhs)

  • Net Sales/Income from operations: ₹10,205.02
  • Other Operational Income: ₹448.42
  • Total Revenue From Operations: ₹10,653.44
  • Other Income: ₹835.94
  • Unrealised Gain/Loss (net): ₹340.1
  • Total Income: ₹11,023.89
  • Total Expenses: ₹10,714.72
  • Profit before Exceptional items and tax: ₹308.68
  • Profit before tax: ₹308.68
  • Tax expenses: ₹78.30 (Current tax: ₹83.18, Deferred tax: ₹-4.88)
  • Net Profit for the period from continuing operations: ₹230.38
  • Total Comprehensive income: ₹181.85
  • Earnings per equity share (face value ₹2): Basic ₹0.79, Diluted ₹0.79

Half Year Performance (April-September 2026)

  • Total Revenue From Operations: ₹19,493.85
  • Net Profit for the period: ₹538.76
  • Total Comprehensive income: ₹627.15
  • Earnings per share: Basic ₹1.85, Diluted ₹1.85

Segment-wise Performance (Quarter Ended September 30, 2026)

  • Export/Trading Division Revenue: ₹10,527.27
  • Power Division Revenue: ₹62.47
  • Others Revenue: ₹63.70
  • Export/Trading Division Result: ₹-45.09 (Loss)
  • Power Division Result: ₹33.18 (Profit)
  • Others Result: ₹46.41 (Profit)

Balance Sheet Position (As at September 30, 2026)

Assets (₹ in Lakhs)

  • Non-current assets: ₹11,562.61
  • Current assets: ₹15,509.71
  • Total Assets: ₹27,072.32

Liabilities and Equity (₹ in Lakhs)

  • Equity: ₹22,060.91
  • Non-current liabilities: ₹406.04
  • Current liabilities: ₹4,605.37
  • Total Equity and Liabilities: ₹27,072.32

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Net Cash Flow from Operating Activities: ₹-4.99
  • Net Cash Flow from Investing Activities: ₹-511.00
  • Net Cash Flow from Financing Activities: ₹183.95
  • Net Increase in Cash and Cash Equivalents: ₹-331.99

Consolidated Financial Results

Subsidiaries Included:

1. G Varadan Limited

2. Innovative Spintex Private Limited

Consolidated Performance (Quarter Ended September 30, 2026)

  • Net Profit for the period: ₹226.94 lakh
  • Total Comprehensive income: ₹178.41 lakh
  • Earnings per share: Basic ₹0.78, Diluted ₹0.78

Subsidiary Contributions (July-September 2026):

  • G Varadan Limited: Net profit after tax of ₹5.79 lakh
  • Innovative Spintex Private Limited: Net profit after tax of ₹1.34 lakh

Management Appointment

Mr. Ninad Shivaji Kadam appointed as Chief Financial Officer w.e.f. November 13, 2026. He is a Commerce Graduate from University of Mumbai and Associate Member of The Institute of Chartered Accountants of India (Membership No. 130540). He holds no shares in the company.

Financial Impact

All financial impacts are quantified in the disclosure. The results show decreased profitability compared to previous year with net profit declining from ₹667.69 lakh to ₹230.38 lakh for the quarter.