A meeting of the Board of Directors of Mahan Industries Limited was held on Thursday, 22nd October 2026, from 07:00 PM to 08:00 PM. The meeting was conducted pursuant to Regulation 30 read with Para A(4) of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board considered and approved the Unaudited Standalone Financial Results of the Company for the Quarter and Half Year ended on 30th September 2026, along with the Limited Review Report issued by the Statutory Auditors thereon.

Financial Results Highlights (Amounts in ₹ Lacs)

Quarter Ended 30th September 2026 (Q2 FY27) vs. Comparative Periods:

  • Interest Income: ₹57.76 (Q2 FY27) vs. ₹137.22 (Q2 FY26) vs. ₹309.67 (Q1 FY27)
  • Sale of Shares and stock in trade: ₹208.54 (Q2 FY27) vs. ₹12.72 (Q2 FY26) vs. ₹221.58 (Q1 FY27)
  • Other Income: ₹303.59 (Q2 FY27) vs. ₹0.33 (Q2 FY26) vs. ₹1.46 (Q1 FY27)
  • Total Income: ₹569.89 (Q2 FY27) vs. ₹150.26 (Q2 FY26) vs. ₹532.70 (Q1 FY27)
  • Total Expenses: ₹356.56 (Q2 FY27) vs. ₹147.89 (Q2 FY26) vs. ₹367.56 (Q1 FY27)
  • Profit Before Tax: ₹213.33 (Q2 FY27) vs. ₹2.38 (Q2 FY26) vs. ₹165.15 (Q1 FY27)
  • Tax Expenses: ₹41.11 (Q2 FY27) vs. Not Applicable (Q2 FY26) vs. ₹36.53 (Q1 FY27)
  • Net Profit After Tax: ₹172.22 (Q2 FY27) vs. ₹2.38 (Q2 FY26) vs. ₹128.62 (Q1 FY27)
  • Earnings Per Share (Basic & Diluted): ₹3.83 (Q2 FY27) vs. ₹0.05 (Q2 FY26) vs. ₹2.86 (Q1 FY27)

Half Year Ended 30th September 2026 (H1 FY27) vs. H1 FY26:

  • Total Income: ₹1,102.59 (H1 FY27) vs. ₹215.51 (H1 FY26)
  • Net Profit After Tax: ₹300.84 (H1 FY27) vs. ₹10.49 (H1 FY26)
  • Earnings Per Share (Basic & Diluted): ₹6.69 (H1 FY27) vs. ₹0.23 (H1 FY26)

Other Comprehensive Income (Q2 & H1 FY27):

  • Items that will not be reclassified to profit or loss: ₹89.22
  • Income tax relating to those items: (₹22.46)
  • Total Other Comprehensive Income: ₹66.76

Total Comprehensive Income:

  • Q2 FY27: ₹238.98
  • H1 FY27: ₹367.60

Capital Structure

  • Paid-up Equity Share Capital: Remained unchanged at ₹450.00 Lacs (45,00,000 shares of ₹10 face value each) across all reported periods.
  • Other Equity (Reserve & Surplus): Stood at ₹438.30 Lacs as of 30th September 2026, up from ₹70.70 Lacs as of 31st March 2026.

Balance Sheet Position as at 30th September 2026 (Unaudited) vs. 31st March 2026 (Audited)

  • Total Assets: ₹2,122.32 Lacs (Sep-26) vs. ₹1,096.13 Lacs (Mar-26)
  • Financial Assets: ₹2,042.57 Lacs, comprising:
  • Cash and Cash Equivalents: ₹187.48 Lacs
  • Bank Balance other than Cash and Cash Equivalents: ₹1,024.84 Lacs
  • Receivables: ₹643.94 Lacs (Trade: ₹186.31 Lacs; Other: ₹457.63 Lacs)
  • Investments: Not separately quantified in assets breakdown
  • Inventories: Not separately quantified in assets breakdown
  • Non-Financial Assets: ₹79.75 Lacs
  • Total Equity: ₹888.30 Lacs (Sep-26) vs. ₹520.70 Lacs (Mar-26)
  • Total Liabilities: ₹1,234.02 Lacs (Sep-26) vs. ₹575.43 Lacs (Mar-26)
  • Financial Liabilities: ₹1,119.77 Lacs, comprising:
  • Borrowings (Other than Debt Securities): ₹948.63 Lacs
  • Trade Payables: ₹164.51 Lacs
  • Other Financial Liabilities: ₹5.63 Lacs
  • Non-Financial Liabilities: ₹114.25 Lacs, comprising:
  • Current tax Liabilities (Net): ₹77.64 Lacs
  • Deferred tax Liabilities (Net): ₹22.46 Lacs
  • Provisions: ₹1.98 Lacs
  • Other non-financial liabilities: ₹13.17 Lacs

Cash Flow Statement for H1 FY27 (Unaudited) vs. FY26 (Audited)

  • Net Cash From Operating Activities: ₹600.52 Lacs (H1 FY27) vs. ₹48.95 Lacs (FY26)
  • Net Cash from Investing Activities: (₹548.33) Lacs (H1 FY27) vs. (₹227.36) Lacs (FY26)
  • Net Cash from Financing Activities: ₹132.81 Lacs (H1 FY27) vs. ₹180.08 Lacs (FY26)
  • Net Increase in Cash & Cash Equivalents: ₹185.00 Lacs (H1 FY27) vs. ₹1.68 Lacs (FY26)
  • Closing Balance of Cash & Cash Equivalents: ₹187.48 Lacs (Sep-26) vs. ₹2.48 Lacs (Mar-26)

Governance and Compliance

  • The financial results were reviewed by the Audit Committee and adopted by the Board of Directors in their meetings held on 22nd October 2026.
  • The statutory auditors, S D P M & Co. (FRN: 126741W), represented by Partner Praveen Toshniwal (M.No. 121017), carried out a limited review and issued an unmodified review report dated 22nd October 2026 from Ahmedabad.
  • The figures for previous periods have been regrouped/rearranged/reclassified wherever considered necessary to correspond with the current period's classification/group's disclosure.

The document was signed by Nishil Shah (Director, DIN: 09165405) and Niranjankumar Jain (Director and CFO, DIN: 00282842).