Financial Results Approval

The Board approved both Standalone and Consolidated Un-audited Financial Results for the Quarter and Half Year ended September 30, 2026. The results were reviewed by M/s Deloitte Haskins & Sells, Statutory Auditors of the Company, and include the Statement of Assets and Liabilities and Cash Flow Statement as at September 30, 2026.

Key Financial Figures - Standalone (Quarter ended September 30, 2026)

  • Revenue from operations: ₹26,240 lakhs (₹262.4 crore)
  • Other income: ₹598 lakhs
  • Total income: ₹26,838 lakhs
  • Profit before tax: ₹137 lakhs
  • Tax expense: ₹27 lakhs
  • Profit after tax: ₹110 lakhs (₹1.10 crore)
  • Basic and diluted EPS: ₹0.53
  • Paid-up equity share capital: ₹2,073 lakhs (face value ₹10 each)

Key Financial Figures - Standalone (Half year ended September 30, 2026)

  • Revenue from operations: ₹41,144 lakhs
  • Other income: ₹1,643 lakhs
  • Total income: ₹42,787 lakhs
  • Loss before tax: ₹(3,043) lakhs
  • Tax credit: ₹(804) lakhs
  • Loss after tax: ₹(2,238) lakhs
  • Basic and diluted EPS: ₹(10.79)

Comparative Performance (YoY Quarter)

  • Revenue increased 5.5% from ₹24,870 lakhs in Q2 FY26 to ₹26,240 lakhs in Q2 FY27
  • Profit after tax declined significantly from ₹1,617 lakhs in Q2 FY26 to ₹110 lakhs in Q2 FY27
  • EPS decreased from ₹7.80 in Q2 FY26 to ₹0.53 in Q2 FY27

Balance Sheet Position (Standalone as at September 30, 2026)

  • Total assets: ₹2,20,536 lakhs
  • Inventories: ₹74,338 lakhs (significant increase from ₹57,088 lakhs as at March 31, 2026)
  • Trade receivables: ₹49,676 lakhs
  • Borrowings: ₹61,014 lakhs (substantial increase from ₹33,431 lakhs as at March 31, 2026)
  • Total equity: ₹88,323 lakhs

Cash Flow Statement (Standalone Half year ended September 30, 2026)

  • Net cash used in operating activities: ₹(20,661) lakhs
  • Net cash used in investing activities: ₹(2,043) lakhs
  • Net cash generated from financing activities: ₹23,017 lakhs
  • Net increase in cash and cash equivalents: ₹373 lakhs

Corporate Guarantee Approval

The Board approved the issuance of a corporate guarantee in favor of IDBI Trusteeship Services Limited, acting as Security Trustee for Punjab National Bank. This guarantee secures credit facilities for MCFL Energy Projects Private Limited, an unlisted wholly owned subsidiary.

Guarantee Details

  • Amount: ₹117 crore (Rupees One Hundred and Seventeen Crore only)
  • Purpose: Term loan facility for Borrower's proposed 35 MW solar power project in Madhya Pradesh
  • Covers: Principal amount plus interest, costs, charges, expenses and other monies payable
  • Impact: Treated as contingent liability for the Company with no current financial impact

Subsidiary Information

MCFL Energy Projects Private Limited was incorporated on January 19, 2026, as a wholly owned subsidiary to undertake solar power generation and related activities, including execution of solar PV projects under Letters of Award from Madhya Pradesh Urja Vikas Nigam Ltd. (MPUVNL) under the PM KUSUM-C Scheme.

Labour Codes Impact

The disclosure notes the impact of newly implemented Labour Codes (notified November 21, 2025), which resulted in increased gratuity and leave encashment liabilities recognized in employee benefit expenses for the year ended March 31, 2026. No further material impact is expected based on current rules.

Seasonal Business Nature

The Company notes that its business is seasonal in nature, and performance in any quarter may not be representative of annual performance.

Auditor Confirmation

Deloitte Haskins & Sells issued limited review reports for both standalone and consolidated financial results, stating that nothing has come to their attention that causes them to believe the statements contain any material misstatement.