Board Meeting Details

A meeting of the Board of Directors was held on Friday, October 30, 2026, commencing at 11:30 AM and concluding at 12:10 PM. The Board approved the unaudited financial results for the quarter and half year ended September 30, 2026, as recommended by the Audit Committee.

Financial Results Summary

Quarterly Performance (Q2 FY27)

  • Revenue from Operations: ₹403.79 crore
  • Other Income: ₹4.35 crore
  • Total Revenue: ₹407.29 crore
  • Profit Before Tax: ₹113.64 crore
  • Tax Expense: ₹28.77 crore (Current Tax: ₹30.54 crore, Deferred Tax: ₹1.58 crore)
  • Net Profit: ₹84.87 crore
  • Basic and Diluted EPS: ₹4.16
  • Equity Share Capital: ₹20.40 crore (2.04 crore shares of ₹10 each)

Half-Yearly Performance (H1 FY27)

  • Revenue from Operations: ₹721.66 crore
  • Other Income: ₹7.05 crore
  • Total Revenue: ₹728.71 crore
  • Profit Before Tax: ₹211.00 crore
  • Tax Expense: ₹53.41 crore (Current Tax: ₹56.60 crore, Deferred Tax: ₹3.19 crore)
  • Net Profit: ₹157.60 crore
  • Basic and Diluted EPS: ₹7.72

Comparative Performance

Quarterly Comparison (Q2 FY27 vs Q2 FY26):

  • Revenue from Operations increased from ₹262.91 crore to ₹403.79 crore (53.6% growth)
  • Net Profit increased from ₹54.61 crore to ₹84.87 crore (55.4% growth)
  • EPS increased from ₹3.41 to ₹4.16

Half-Year Comparison (H1 FY27 vs H1 FY26):

  • Revenue from Operations increased from ₹490.11 crore to ₹721.66 crore (47.2% growth)
  • Net Profit increased from ₹105.00 crore to ₹157.60 crore (50.1% growth)
  • EPS increased from ₹6.56 to ₹7.72

Full Year Reference (FY26 Audited):

  • Revenue from Operations: ₹1,034.99 crore
  • Net Profit: ₹224.20 crore
  • EPS: ₹13.45

Balance Sheet Highlights (as of September 30, 2026)

  • Total Assets/Liabilities: ₹1,773.69 crore
  • Shareholder's Funds: Share Capital ₹204.00 crore + Reserves & Surplus (not quantified in disclosure)
  • Long Term Borrowings: ₹170.10 crore
  • Current Assets: Inventories ₹295.91 crore, Trade Receivables ₹300.42 crore, Cash & Cash Equivalents ₹76.22 crore
  • Property, Plant and Equipment: ₹639.89 crore
  • Capital Work in Progress: ₹221.58 crore

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Cash from Operating Activities: ₹151.13 crore
  • Cash from Investing Activities: Outflow of ₹130.26 crore (mainly Purchase of Property, Plant and Equipment ₹549.16 crore)
  • Cash from Financing Activities: Outflow of ₹42.25 crore
  • Net Increase in Cash: ₹31.02 crore
  • Closing Cash Balance: ₹76.22 crore

IPO Proceeds Utilization

The company provided a detailed breakdown of IPO proceeds utilization totaling ₹541.20 crore:

1. Funding of Capital expenditure towards new Manufacturing Facility (₹322.59 crore allocated)

  • Total utilized: ₹249.46 crore (77.3% of allocation)
  • Land: ₹210.06 crore fully utilized
  • Civil Construction: ₹27.48 crore utilized (₹59.32 crore unutilized)
  • Plant & Machinery: ₹11.92 crore utilized (₹13.81 crore unutilized)
  • Unutilized: ₹73.13 crore

2. Funding of Capital expenditure for manufacturing of equipments for rental purpose (₹60.00 crore allocated)

  • Total utilized: ₹59.05 crore (98.4% of allocation)
  • Aluminium Scaffolding: ₹21.00 crore fully utilized
  • Aluminium Ladder: ₹6.00 crore fully utilized
  • FRP Ladder: ₹5.05 crore utilized (₹0.96 crore unutilized)
  • MS Scaffolding: ₹27.00 crore fully utilized
  • Unutilized: ₹0.96 crore

3. Working capital requirements (₹80.00 crore allocated)

  • Fully utilized: ₹80.00 crore

4. General corporate purposes (₹17.63 crore allocated)

  • Fully utilized: ₹17.63 crore

5. Issue related expenses (₹60.98 crore allocated)

  • Fully utilized: ₹60.98 crore

Total Utilization: ₹467.12 crore (86.3% of total proceeds)

Unutilized Amount: ₹74.08 crore temporarily invested in fixed deposits with ICICI Bank

The Company confirms that utilization of IPO proceeds is in line with the objects stated in the Prospectus with no material deviation requiring disclosure.

Additional Information

  • The company operates in a single segment: Manufacturing of aluminium & Steel Scaffolding and FRP Ladders
  • The financial results were subjected to limited review by the statutory auditors (V. K. Kila & Co.)
  • The trading window for insiders will reopen on Monday, November 2, 2026
  • The results are available on BSE and the company's website
  • Previous periods figures have been regrouped/reclassified where necessary