Board Meeting Outcomes

The Board of Directors meeting commenced at 11:45 AM and concluded on October 16, 2026. The Board:

1. Approved the Unaudited Financial Results (Standalone and Consolidated) along with the Limited Review Report for the quarter and half year ended September 30, 2026.

2. Declared an interim dividend for FY 2026-2027 of ₹4 per equity share (400%) on fully paid-up equity shares of face value ₹1 per share.

3. Fixed October 23, 2026, as the Record Date for the payment of the interim dividend.

Standalone Financial Performance (₹ in Lakhs)

Quarterly Performance (Q2 FY27 vs Q2 FY26 vs Q1 FY27)

  • Revenue from Operations: ₹27,902.59 (Q2 FY27) vs ₹14,516.21 (Q2 FY26) vs ₹27,046.67 (Q1 FY27)
  • Total Income: ₹28,247.04 (Q2 FY27) vs ₹14,538.65 (Q2 FY26) vs ₹27,309.70 (Q1 FY27)
  • Profit Before Tax (PBT): ₹3,085.27 (Q2 FY27) vs ₹1,567.48 (Q2 FY26) vs ₹4,582.76 (Q1 FY27)
  • Tax Expense: ₹752.96 (Q2 FY27) vs ₹401.79 (Q2 FY26) vs ₹1,198.41 (Q1 FY27)
  • Profit After Tax (PAT): ₹2,332.31 (Q2 FY27) vs ₹1,165.69 (Q2 FY26) vs ₹3,384.35 (Q1 FY27)
  • Earnings Per Share (EPS) (₹): 7.19 (Q2 FY27) vs 3.59 (Q2 FY26) vs 10.43 (Q1 FY27)

Half-Yearly Performance (H1 FY27 vs H1 FY26)

  • Revenue from Operations: ₹54,949.26 (H1 FY27) vs ₹27,929.78 (H1 FY26)
  • Total Income: ₹55,556.74 (H1 FY27) vs ₹28,283.34 (H1 FY26)
  • Profit Before Tax (PBT): ₹7,668.03 (H1 FY27) vs ₹2,208.62 (H1 FY26)
  • Tax Expense: ₹1,951.37 (H1 FY27) vs ₹562.87 (H1 FY26)
  • Profit After Tax (PAT): ₹5,716.66 (H1 FY27) vs ₹1,645.75 (H1 FY26)
  • Earnings Per Share (EPS) (₹): 17.62 (H1 FY27) vs 5.07 (H1 FY26)

Consolidated Financial Performance (₹ in Lakhs)

The consolidated results include the subsidiary Modison HV Private Limited till September 21, 2026. The figures are largely consistent with the standalone performance, with minor deviations in other income and certain expense lines.

  • Q2 FY27 PAT (Consolidated): ₹2,328.89
  • H1 FY27 PAT (Consolidated): ₹5,713.37
  • Q2 FY27 EPS (Consolidated) (₹): 7.18
  • H1 FY27 EPS (Consolidated) (₹): 17.61

Exceptional Items

Exceptional items for the periods represent profit/(loss) on hedging of silver stock, mark-to-market of forward contracts, and loss due to a fire incident.

  • Q2 FY27: Profit of ₹360.27 lakh
  • Q1 FY27: Loss of ₹27.70 lakh
  • Q2 FY26: Profit of ₹102.94 lakh
  • H1 FY27: Profit of ₹332.57 lakh
  • H1 FY26: Loss of ₹8.80 lakh
  • FY26 (Audited): Loss of ₹830.86 lakh

Key Balance Sheet Highlights (Standalone, as of 30-09-2026)

  • Total Assets: ₹60,236.79 Lakhs (vs ₹50,274.86 Lakhs on 31-03-2026)
  • Inventories: ₹30,808.29 Lakhs (vs ₹21,980.04 Lakhs on 31-03-2026)
  • Trade Receivables: ₹18,075.36 Lakhs (vs ₹15,996.95 Lakhs on 31-03-2026)
  • Total Equity: ₹32,211.53 Lakhs (vs ₹27,462.46 Lakhs on 31-03-2026)
  • Borrowings (Current): ₹22,122.96 Lakhs (vs ₹17,246.70 Lakhs on 31-03-2026)
  • Borrowings (Non-Current): ₹125.89 Lakhs (vs ₹200.21 Lakhs on 31-03-2026)

Cash Flow Statement (Standalone, H1 FY27)

  • Net Cash from Operating Activities: (₹1,474.76) Lakhs
  • Net Cash used in Investing Activities: (₹303.20) Lakhs
  • Net Cash from Financing Activities: ₹3,030.27 Lakhs
  • Net Change in Cash & Equivalents: ₹8.45 Lakhs

Significant Events and Notes

1. Fire Incident: On February 7, 2026, a fire incident at the factory led to a loss of Property, Plant & Equipment (PPE) and inventory. The company charged off the written-down value (WDV) of PPE (₹153.58 Lakhs), cost of inventory (₹867.46 Lakhs), and GST on inventory (₹42.42 Lakhs), totaling ₹1,063.46 Lakhs, shown as an exceptional item in FY26.

2. Insurance Claim: A claim of ₹1,801.95 Lakhs was lodged with the insurance company. A first part payment of ₹170.00 Lakhs was received in FY26 (accounted as other income). A further part payment of ₹180 Lakhs was received during H1 FY27 (accounted as other income in Q2). The balance claim is in process.

3. Subsidiary Divestment: The company divested its entire stake in its wholly-owned subsidiary, Modison HV Private Limited, effective September 21, 2026. This had no material impact on the financials. The company had previously divested Modison Hitech Private Limited on June 9, 2025.

4. Segment Reporting: The company's business activity falls within a single primary segment: "Manufacturing of Electrical Contacts."

5. Auditor's Review: The unaudited financial results were reviewed by ML Bhuwania & Co LLP, Chartered Accountants, who issued a limited review report with no adverse findings.