Key Financial Figures - Standalone (₹ in lakhs)
Quarterly Performance:
- Q4 FY26 (Audited): Revenue from operations: 6,581.32; Other Income: 4.67; Total Revenue: 6,585.99; Profit Before Tax: 121.43; Current Tax: 31.57; Profit for Period: 90.10
- Q3 FY25 (Unaudited): Revenue from operations: 1,015.97; Other Income: 14.24; Total Revenue: 1,030.21; Profit Before Tax: 21.59; Current Tax: 5.62; Profit for Period: 15.80
- Q4 FY25 (Audited): Revenue from operations: 2,104.95; Other Income: 14.03; Total Revenue: 2,118.98; Profit Before Tax: 79.61; Current Tax: 21.49; Profit for Period: 58.11
Annual Performance:
- FY26 (Audited): Revenue from operations: 8,545.89; Other Income: 50.92; Total Revenue: 8,596.81; Profit Before Tax: 156.87; Current Tax: 40.79; Profit for Period: 116.55
- FY25 (Audited): Revenue from operations: 3,244.70; Other Income: 57.11; Total Revenue: 3,301.81; Profit Before Tax: 120.00; Current Tax: 32.40; Profit for Period: 87.60
Standalone Balance Sheet (as at 31st March, ₹ in lakhs):
- Total Assets: 9,650.10 (2025: 4,016.60)
- Non-current assets: 4,880.27 (2025: 2,636.34)
- Current assets: 4,769.83 (2025: 1,380.26)
- Shareholders' funds: 5,300.16 (2025: 3,065.07)
- Current liabilities: 4,327.48 (2025: 927.85)
Standalone Earnings Per Share (₹):
- FY26: Basic & Diluted EPS (before and after extraordinary items): 0.37
- FY25: Basic & Diluted EPS (before and after extraordinary items): 0.04
Key Financial Figures - Consolidated (₹ in lakhs)
Quarterly Performance:
- Q4 FY26 (Audited): Revenue from operations: 6,835.15; Other Income: 4.67; Total Revenue: 6,839.81; Profit Before Tax: 138.36; Current Tax: 36.90; Profit for Period: 101.72; Non-Controlling Interest: 2.76; Profit for period (after NCI): 98.95
- Q3 FY25 (Unaudited): Revenue from operations: 1,160.19; Other Income: 14.24; Total Revenue: 1,174.43; Profit Before Tax: 26.21; Current Tax: 6.54; Profit for Period: 19.48; Non-Controlling Interest: 1.81; Profit for period (after NCI): 17.66
- Q4 FY25 (Audited): Revenue from operations: 2,131.94; Other Income: 14.03; Total Revenue: 2,145.97; Profit Before Tax: 84.86; Current Tax: 28.99; Profit for Period: 55.87; Non-Controlling Interest: -1.10; Profit for period (after NCI): 56.97
Annual Performance:
- FY26 (Audited): Revenue from operations: 8,988.08; Other Income: 50.92; Total Revenue: 9,039.00; Profit Before Tax: 189.23; Current Tax: 49.20; Profit for Period: 140.49; Non-Controlling Interest: 8.80; Profit for period (after NCI): 131.69
- FY25 (Audited): Revenue from operations: 3,330.63; Other Income: 57.11; Total Revenue: 3,387.75; Profit Before Tax: 149.98; Current Tax: 39.89; Profit for Period: 110.08; Non-Controlling Interest: 11.02; Profit for period (after NCI): 99.07
Consolidated Balance Sheet (as at 31st March, ₹ in lakhs):
- Total Assets: 11,467.51 (2025: 4,527.99)
- Non-current assets: 5,622.74 (2025: 2,715.03)
- Current assets: 5,844.77 (2025: 1,812.96)
- Shareholders' funds: 5,334.39 (2025: 3,076.54)
- Minority Interest: 118.53 (2025: 109.68)
- Current liabilities: 5,311.84 (2025: 1,318.09)
Consolidated Earnings Per Share (₹):
- FY26: Basic & Diluted EPS (before and after extraordinary items): 0.04
- FY25: Basic & Diluted EPS (before and after extraordinary items): 0.04
Material Events and Transactions
Acquisition of Marsapi Lifesciences Private Limited:
- The Company acquired 100% of Marsapi Lifesciences Private Limited during the year, making it a wholly-owned subsidiary.
- The acquisition was made pursuant to a Shareholders Agreement dated 05 June 2025 on a share-swap basis with no cash consideration.
- MRC Agrotech issued 86,42,097 equity shares at ₹19.50 per share for the acquisition.
- The investment value was ₹16.85 crore, with valuation based on an indicative registered valuer's report.
- This acquisition required preparation of consolidated financial statements under Section 129(3) of the Companies Act, 2013.
Assignment of Receivables to Cicago Commodities Private Limited:
- The Company assigned its receivables (loans and advances totaling ₹7,30,00,978) to Cicago Commodities Private Limited on a non-recourse basis.
- Cicago Commodities agreed to settle specific trade creditor dues for the Company and paid the remaining balance to the Company.
- The transaction was disclosed as being at arm's length, in the ordinary course of business, and does not affect the management or control of the company.
Audit Emphasis and Key Audit Matters
The auditor, Choudhary Choudhary & Co. (Firm Reg. No. 002910C), issued an unmodified/unqualified opinion but highlighted several emphasis matters and key audit issues:
Emphasis of Matter:
1. Investment in Marsapi Lifesciences: The ₹16.85 crore investment through share swap arrangement was emphasized for attention.
2. Agreement with Cicago Commodities: The assignment of loans totaling ₹7.30 crore was noted as requiring emphasis.
Key Audit Matters:
1. Back-to-back trading transactions: The company executed numerous back-to-back trading transactions with purchases and sales completed within short periods, often on the same date, involving direct movement of goods through transporters with low gross margins.
2. Year-end concentration of revenue: Approximately ₹38.10 crore (44.62% of total taxable outward supplies of ₹85.39 crore) was recognized in March 2026, with substantial trading with two interrelated counterparties accounting for 53% of purchases and 23% of sales.
3. GST classification issue: Company recorded exempt sales of ₹81.14 crore and export sales of ₹0.06 crore, but GSTR-3B returns filed for all twelve months reflected total sales under taxable supplies without separate reporting of exempt supply. Management explained goods were agricultural commodities classified as exempt under GST notifications, but bifurcation in GSTR-3B was not carried out.
Subsidiary Information
The consolidated financial results include:
1. Agronica Seeds Spark Private Limited: 51% owned subsidiary with total assets of ₹1,016.25 lakhs as at March 31, 2026, and revenue/profits of ₹73.21 lakhs/₹5.63 lakhs for Q4 FY26. Audited by Jain Anil & Associates.
2. Marsapi Lifesciences Private Limited: 100% wholly-owned subsidiary with total assets of ₹3,011.42 lakhs as at March 31, 2026, and revenue/profits of ₹180.62 lakhs/₹5.99 lakhs for Q4 FY26. Audited by Jain Anil & Associates.
Board and Audit Committee Approval
- The results were reviewed by the Audit Committee of the Company.
- The Board of Directors took the results on record at their meeting held on June 2, 2026.
- The meeting commenced at 10:45 AM and ended at 11:30 AM on June 6, 2026.