Company Overview
Modis Navnirman Limited (BSE: 543539, NSE: MODIS) reported strong financial performance for FY 2025-26, with revenue from operations surging 84% to ₹189.31 crore and profit after tax increasing 26.4% to ₹29.22 crore. The company successfully migrated from BSE SME to Main Board of BSE and NSE effective November 14, 2025, and completed amalgamation of wholly owned subsidiary Shree Modis Navnirman Private Limited following NCLT approval.
Financial Performance
Revenue & Profitability:
- Revenue from Operations: ₹18,931.35 lakh (FY26) vs ₹10,290.62 lakh (FY25) - 84.26% increase
- Profit Before Tax: ₹3,644.20 lakh (FY26) vs ₹2,735.27 lakh (FY25) - 33.23% increase
- Profit After Tax: ₹2,921.91 lakh (FY26) vs ₹2,311.05 lakh (FY25) - 26.25% increase
- Earnings Per Share: ₹14.91 (Basic & Diluted)
Balance Sheet Strength:
- Total Assets: ₹30,497.44 lakh
- Total Equity: ₹15,670.14 lakh
- Current Ratio: 2.09 times
- Return on Equity: 21%
- Company remains debt-free with strong financial foundation
Operational Highlights
The company delivered projects Rashmi Vasudeo and Rashmi Celestia, receiving Occupation Certificate for the latter. Secured new redevelopment projects with estimated Gross Development Value of approximately ₹400+ crores, including New Chitra Society (Kandivali west) and Bank of India Staff Sheetal (Borivali west). Completed 14 projects with negligible unsold inventory.
Accounting Transition & Audit Opinion
The financial statements represent the first year of adoption of Indian Accounting Standards (Ind AS) with transition date of April 1, 2024. Auditors DGMS & Co. issued an unqualified opinion and confirmed adequate internal financial controls over financial reporting as of March 31, 2026. Significant adjustments included Ind AS 115 (Revenue) impact of ₹1,734.01 lakhs.
Corporate Governance & Structure
Board Composition: 8 Directors (3 Executive, 5 Non-Executive including 4 Independent Directors)
Key Personnel: Dinesh Modi (Chairman & MD), Mahek Modi (Whole-Time Director & CFO), Rashmi Modi (Whole-Time Director)
Shareholding: Promoters hold 63.79% with Dinesh Modi (30.78%), Rashmi Modi (17.59%), Mahek Modi (15.42%)
Capital Allocation & CSR
Board decided not to recommend dividend for FY26 to reinvest capital in attractive real estate opportunities. Incorporated Modis Navnirman Foundation (Section 8 company) and spent ₹18.00 lakhs on CSR activities, exceeding the ₹17.59 lakh obligation.
Regulatory Compliance & Events
Filed pursuant to SEBI Listing Regulations, with no material orders from regulators/courts. 5th Annual General Meeting scheduled for August 5, 2026, to seek shareholder approval for financial statements and director re-appointment. Contingent liabilities include GST claims of ₹1,022.38 lakhs not acknowledged as debts.
Forward Outlook
Company achieved FY25 profit within first half of FY26 and surpassed it in nine-month period. With strong project pipeline and debt-free status, the company is well-positioned for continued growth in the real estate sector.