Board Meeting Details
The meeting of Board of Directors was held on June 11, 2026, at 12:15 P.M. at the registered office of the company and concluded at 1:40 P.M.
Financial Results - Standalone (₹ in Lakhs)
Income Statement Highlights:
- Year Ended March 31, 2026: Total Income ₹5,265.91, Net Profit ₹359.40
- Year Ended March 31, 2025: Total Income ₹4,386.64, Net Profit ₹481.72
- Half Year Ended March 31, 2026: Total Income ₹2,041.63, Net Profit ₹91.83
- Half Year Ended September 30, 2025: Total Income ₹3,224.28, Net Profit ₹267.56
Key Financial Metrics:
- EPS (Face Value ₹10): FY26: ₹2.38, FY25: ₹3.19
- Debt Equity Ratio: FY26: 0.81, FY25: 0.39
- Interest Coverage Ratio: FY26: 6.45, FY25: 12.35
- Debt Service Coverage Ratio: FY26: 4.11, FY25: 6.27
Balance Sheet Position (as at March 31, 2026):
- Paid-up Equity Share Capital: ₹1,510.00 lakhs
- Reserves: ₹2,445.65 lakhs
- Total Equity and Liabilities: ₹7,149.16 lakhs
- Total Assets: ₹7,149.16 lakhs
Financial Results - Consolidated (₹ in Lakhs)
Income Statement Highlights:
- Year Ended March 31, 2026: Total Income ₹5,986.58, Net Profit ₹1,044.25
- Year Ended March 31, 2025: Total Income ₹4,388.68, Net Profit ₹484.13
- Half Year Ended March 31, 2026: Total Income ₹2,710.11, Net Profit ₹747.31
- Half Year Ended September 30, 2025: Total Income ₹3,276.47, Net Profit ₹296.94
Key Financial Metrics:
- EPS (Face Value ₹10): FY26: ₹6.92, FY25: ₹3.21
- Debt Equity Ratio: FY26: 0.95, FY25: 0.40
- Interest Coverage Ratio: FY26: 14.09, FY25: 12.37
Audit Opinion
Statutory Auditors H. B. Kalaria & Associates issued unmodified opinion on both standalone and consolidated financial results. The audit report includes Emphasis of Matter regarding:
- Rights Issue allotment finalized post year-end on April 7, 2026
- Acquisition of FIA & DL Holdings Pte. Ltd. and Arrowin Metaltech
- Classification of ₹50.57 lakhs as Other Current Assets for issue expenses
- Disputed statutory dues of ₹0.22 lakhs for which no provision made
Material Events and Transactions
Acquisitions:
- FIA & DL Holdings Pte. Ltd.: Acquired 100% equity stake on March 24, 2026 for USD 2,011,000 (₹1,858.16 lakhs)
- Arrowin Metaltech India Private Limited: Increased stake from 20% to 30% through acquisition of 9,00,000 equity shares for ₹417.90 lakhs
Capital Structure Changes:
- Rights Issue: 4,53,00,000 Equity Shares allotted on April 7, 2026, aggregating ₹45.30 crores
- Authorized Share Capital: Increased from ₹20.00 crores to ₹61.00 crores approved in EGM on January 27, 2026
Other Significant Items:
- ESOP: 17,000 stock options granted in FY25 at ₹10 exercise price, compensation expense of ₹21.14 lakhs recognized in FY26
- Migration to BSE Main Board: Initiated process, migration fees of ₹7.04 lakhs paid treated as prepaid expense
- Contingent Liability: Disputed statutory dues of ₹0.22 lakhs relating to shortfall in TDS and interest
Post-Balance Sheet Events
1. Rights Issue Allotment: Finalized on April 7, 2026, increasing paid-up capital from ₹15.10 crore to ₹60.40 crore
2. Arrowin Metaltech Acquisition: In April 2026, acquired remaining 70% stake (28,00,000 shares) for ₹12.04 crores from Rights Issue proceeds, making it a wholly-owned subsidiary
Segment Information
The company operates primarily in House Furnishing segment (Kitchen Storage Accessories). With acquisition of Vina Metal Recycling, expanded into steel recycling business, but doesn't meet quantitative thresholds for separate segment reporting under AS-17.
Cash Flow Information
Standalone Cash Flows (FY26):
- Net Cash from Operating Activities: ₹498.65 lakhs
- Net Cash used in Investing Activities: ₹(2,271.18) lakhs
- Net Cash from Financing Activities: ₹1,801.68 lakhs
- Net Increase in Cash: ₹29.15 lakhs
Consolidated Cash Flows (FY26):
- Net Cash from Operating Activities: ₹509.20 lakhs
- Net Cash used in Investing Activities: ₹(2,239.93) lakhs
- Net Cash from Financing Activities: ₹1,799.73 lakhs
- Net Increase in Cash: ₹69.00 lakhs