This is an intimation to the BSE, submitted under SEBI Listing Regulations (Regulation 30), enclosing an investor presentation related to the company's unaudited financial results for Q2 and H1 of FY27.

Financial Performance for Q2FY27 (Amt in ₹ Lakhs)

  • Revenue from Operations: ₹4,037.94 Lakhs (₹40.38 Cr), a increase of 53.59% YoY from ₹2,629.08 Lakhs in Q2FY26.
  • Total Revenue: ₹4,042.29 Lakhs, up 53.58% YoY.
  • Profit Before Tax (PBT): ₹1,136.40 Lakhs.
  • Total Tax: ₹287.69 Lakhs.
  • Profit After Tax (PAT): ₹848.71 Lakhs (₹8.49 Cr), a growth of 55.42% YoY from ₹546.09 Lakhs.
  • EBITDA Margin: Disclosed as 38.65%.
  • PAT Margin: Disclosed as 21.02%.

Financial Performance for H1FY27 (Amt in ₹ Lakhs)

  • Revenue from Operations: ₹7,216.62 Lakhs (₹72.17 Cr), a increase of 47.25% YoY from ₹4,901.08 Lakhs in H1FY26.
  • Total Revenue: ₹7,287.09 Lakhs, up 48.49% YoY.
  • Profit Before Tax (PBT): ₹2,110.00 Lakhs.
  • Total Tax: ₹534.05 Lakhs.
  • Profit After Tax (PAT): ₹1,575.95 Lakhs, a growth of 50.09% YoY from ₹1,050.03 Lakhs.

Management Commentary and Business Updates

  • The company attributed strong performance to the expansion of its rental business, higher asset deployment, and operating leverage. The share of rental revenue has increased to 52%.
  • Guidance for FY27: The company continues to target approximately 50% revenue growth for the full financial year while maintaining healthy profitability.
  • Expansion: The warehouse network has been expanded from 21 to 24 locations to strengthen pan-India presence.
  • Capacity Expansion (MS Scaffolding): Capacity is being scaled from 9,000 tons to 15,000 tons to address growing demand. This expansion is being facilitated through a temporary rented facility in Mathura while the owned facility is developed.
  • New Product - Aluminium Formwork: Trial runs have begun for a new 500 TPA aluminium formwork capacity. Commercialization is targeted for December 2026.
  • New Integrated Manufacturing Facility: Civil construction has commenced on an owned integrated manufacturing facility. It is expected to become operational by May 2027 and will support the broader vision of building a scalable rental-led platform.

Balance Sheet Highlights as of 30-Sep-2026 (Amt in ₹ Lakhs)

  • Share Capital: ₹2,040.00 Lakhs (unchanged from 31-Mar-2026).
  • Reserves and Surplus: ₹9,336.73 Lakhs (increased from ₹7,760.78 Lakhs).
  • Total Borrowings: ₹4,360.39 Lakhs (Long-Term: ₹1,701.01 Lakhs; Short-Term: ₹2,659.38 Lakhs).
  • Property, Plant and Equipment: ₹6,398.93 Lakhs (increased from ₹4,871.11 Lakhs).
  • Capital Work in Progress: ₹221.58 Lakhs (increased from ₹0 Lakhs).
  • Inventories: ₹2,959.11 Lakhs (increased from ₹2,395.23 Lakhs).
  • Trade Receivables: ₹3,004.16 Lakhs (increased from ₹2,357.39 Lakhs).
  • Cash and Cash Equivalents: ₹762.18 Lakhs (increased from ₹437.53 Lakhs).
  • Total Assets/Equity & Liabilities: ₹17,736.92 Lakhs (increased from ₹14,901.23 Lakhs).

Business Model and Operations

  • The company operates a dual revenue stream model involving the manufacturing & sale and rental of scaffolding and access equipment (Aluminium Scaffolding, MS Scaffolding, FRP Ladders).
  • It operates an asset-backed rental model, which enables recurring revenue through multiple rental cycles.
  • The company served over 2,500 customers in the previous year across infrastructure, construction, industrial maintenance, and commercial projects.

Investment Rationale Presented

Key rationale includes the expansion into formwork solutions, scaling the rental asset base for higher margins and predictable cash flows, geographic and customer expansion, and execution-driven growth targeting 50%+ growth in FY27.