Board Meeting Outcomes
The Board of Directors at its meeting held on August 10, 2026 approved:
- Notice of 41st Annual General Meeting for FY 2025-26
- Report of Board of Directors, Annual Report and annexures for FY 2025-26
- Unaudited Standalone & Consolidated Financial Results for quarter ended June 30, 2026 along with Limited Review Report from statutory auditors R B Verma & Associates
Financial Results - Standalone (Quarter Ended June 30, 2026)
Income Statement:
- Revenue from Operations: ₹187.20 crore
- Other Income: ₹9.45 crore
- Total Revenue: ₹196.65 crore
- Profit before tax: ₹36.78 crore
- Tax expense: ₹7.81 crore (Current tax: ₹9.19 crore, Deferred tax: ₹-1.38 crore)
- Profit for the period: ₹28.97 crore
- Other Comprehensive Income: ₹0.06 crore
- Total Comprehensive Income: ₹28.97 crore
Key Metrics:
- Paid-up equity share capital: ₹47.14 crore (face value ₹10 each)
- Basic EPS: ₹6.14
- Diluted EPS: ₹6.14
Segment-wise Performance (Standalone):
- Insulators Segment Revenue: ₹175.10 crore
- Terry Towels Segment Revenue: ₹12.10 crore
- Total Operating Income: ₹187.20 crore
- Insulators Segment Profit: ₹37.78 crore
- Terry Towels Segment Profit: ₹0.04 crore
Financial Results - Consolidated (Quarter Ended June 30, 2026)
Income Statement:
- Revenue from Operations: ₹188.30 crore
- Other Income: ₹9.39 crore
- Total Revenue: ₹197.68 crore
- Profit before tax: ₹37.46 crore
- Tax expense: ₹7.86 crore (Current tax: ₹9.10 crore, Deferred tax: ₹-0.33 crore)
- Profit for the period: ₹29.60 crore
- Other Comprehensive Income: ₹0.06 crore
- Total Comprehensive Income: ₹29.61 crore
Key Metrics:
- Paid-up equity share capital: ₹47.14 crore
- Basic EPS: ₹6.28
- Diluted EPS: ₹6.28
Segment-wise Performance (Consolidated):
- Insulators Segment Revenue: ₹175.10 crore
- Terry Towels Segment Revenue: ₹12.10 crore
- Others Segment Revenue: ₹22.64 crore
- Total Operating Income: ₹188.30 crore
- Insulators Segment Profit: ₹37.78 crore
- Terry Towels Segment Profit: ₹0.04 crore
- Others Segment Profit: ₹0.95 crore
Auditor's Qualified Report
R B Verma & Associates issued a qualified limited review report due to:
- Non-provision of taxation including interest amounting to ₹275.40 lakhs for quarter ended June 30, 2026 (previous year ₹936.19 lakhs; up to the year ₹13,055.78 lakhs)
- This non-provision is in view of the proposed amalgamation scheme with Modern Denim Limited
NCLT Scheme Status
The Hon'ble NCLT, Jaipur Bench disposed of the Company's Petition No. CP(CAA) No.14/230-232/JPR/2022 (Scheme of Arrangement between Modern Insulators Limited and Modern Denim Limited) on January 22, 2026, with liberty to re-approach after compliance of pending regulatory requirements including obtaining NOC from stock exchange.
Current Status:
- Company has re-submitted application to stock exchange for NOC
- Stock exchange has asked for certain documents/clarifications
- Compliance is under process
- Management is hopeful of NCLT approval of the Scheme
Related Party Transactions
- Interest-free unsecured loan of ₹70.29 crore (previous year ₹71.19 crore) given to Modern Denim Limited (company covered under section 189 of Companies Act, 2013)
- Maximum amount outstanding during year: ₹71.19 crore
- No repayment terms specified as loan is in connection with proposed amalgamation
- Interest-free unsecured loan of ₹24.35 crore granted to wholly owned subsidiary Modern Composites Private Limited for normal business requirements
Other Entities Included in Consolidation
- Modern Composites Private Limited (wholly owned subsidiary)
- Shriji Designs - MIL JV (joint venture)
- Modern Insulators JV Akhandalamani Electricals & Construction (joint venture)
Financial impact of unreviewed entities:
- Total assets: ₹36.26 crore as at June 30, 2026
- Total revenue: ₹2.30 crore for quarter ended June 30, 2026
- Net profit after tax: ₹0.63 crore for quarter ended June 30, 2026
Notes to Financial Results
- Financial results include balancing figures for quarter ended March 31, 2026 between audited full-year figures and unaudited year-to-date figures up to December 31, 2025
- Figures for previous periods regrouped/rearranged for comparability
- Results reviewed by Audit Committee and approved by Board on August 10, 2026