Summary of Key Information:

Reporting Period (Quarter/Year): Quarter and Half Year ended September 30, 2026

Nature of Filing / Announcement: Outcome of Board Meeting under SEBI LODR Regulations 30, 32, and 33

Audit Opinion:

Clean opinion. The limited review report from statutory auditors A Bafna & Co states: "Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement... contains any material misstatement."

Auditor’s Comment:

Not Specified

Key Financial Highlights [Amount in ₹ Lakhs]:

Standalone Results:

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹16,857.89 (vs. ₹15,432.83 in Q2 FY25, +9.2% YoY)
  • Total Income: ₹17,067.48
  • Net Profit: ₹1,097.45 (vs. ₹1,330.17 in Q2 FY25, -17.5% YoY; vs. ₹752.22 in Q1 FY26, +45.9% QoQ)
  • EPS: ₹3.97 (not annualized)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹29,440.62 (vs. ₹24,398.83 in H1 FY25, +20.7% YoY)
  • Total Income: ₹29,831.31
  • Net Profit: ₹1,849.66 (vs. ₹1,703.44 in H1 FY25, +8.6% YoY)
  • EPS: ₹6.69 (not annualized)
  • Other Equity: ₹58,079.87 (vs. ₹56,273.64 as of March 31, 2026)
  • Cash and Cash Equivalents: ₹0.67 (vs. ₹579.40 as of March 31, 2026)
  • Debt: Total Borrowings ₹5,050.53 (Non-current ₹342.49 + Current ₹4,708.04)

Consolidated Results:

Not Specified

Segment-wise Performance [Amount in ₹ Lakhs]:

For Quarter Ended September 30, 2026:

  • Manufacturing & Trading Segment: Revenue ₹16,325.26, Segment Profit ₹1,657.94
  • EPC Contract Segment: Revenue ₹532.63, Segment Loss (₹114.79)
  • Total Segment Results: ₹1,543.15

For Half Year Ended September 30, 2026:

  • Manufacturing & Trading Segment: Revenue ₹27,726.00, Segment Profit ₹2,683.60
  • EPC Contract Segment: Revenue ₹1,714.62, Segment Loss (₹27.43)
  • Total Segment Results: ₹2,656.17

Corporate Actions:

Not Specified

Other Significant Information:

  • IPO Proceeds Utilization: As of September 30, 2026, ₹322.50 crore of the ₹400 crore IPO proceeds has been utilized. Unutilized amount of ₹77.50 crore is invested in fixed deposits with HDFC Bank.
  • Repayment of borrowings: ₹98.18 crore utilized (₹3.09 crore remaining of ₹101.27 crore allocated)
  • Capital expenditure: ₹12.06 crore utilized (₹75.80 crore remaining of ₹87.86 crore allocated) - significant delay noted
  • Working capital: ₹123.39 crore utilized (over-utilized by ₹1.39 crore)
  • General corporate purposes: ₹64.84 crore utilized (completed)
  • Issue expenses: ₹24.03 crore utilized (completed)
  • Management Designation: Mr. Swathirajan Mulvadi Gomadam, Chief Operating Officer - CRGO, was designated as Senior Management Personnel (SMP) effective October 31, 2026.
  • Share Price Performance: The monitoring report notes the company's share price at ₹234.50 as of October 26, 2026, representing a ~58% decline from the IPO price of ₹561.