Board Meeting Details

The Board of Directors meeting was held on November 13, 2026, from 04:00 PM to 05:00 PM. The board approved:

  • Unaudited Standalone Financial Results for H1 FY27 (ended September 30, 2026)
  • Statement of Assets and Liabilities as of September 30, 2026
  • Cash Flow Statement for H1 FY27
  • Limited Review Report from statutory auditors M/s Piyush Kothari & Associates (FRN 140711W)
  • Certificate on utilization of IPO proceeds dated November 13, 2026

Financial Performance Highlights (₹ in Lakhs)

Income Statement:

  • Revenue from operations: ₹2,442.60 (H1 FY27) vs ₹2,379.79 (H1 FY26) - 2.6% increase
  • Other income: ₹22.43 (H1 FY27) vs ₹4.26 (H1 FY26)
  • Total revenue: ₹2,465.03 (H1 FY27) vs ₹2,384.05 (H1 FY26)

Expense Breakdown:

  • Cost of raw material consumed: ₹2,500.17 (H1 FY27) vs ₹1,421.40 (H1 FY26) - 75.9% increase
  • Direct expenses: ₹247.21 (H1 FY27) vs ₹273.61 (H1 FY26)
  • Changes in inventories: (₹692.57) credit (H1 FY27) vs ₹178.49 debit (H1 FY26)
  • Employee benefits: ₹105.43 (H1 FY27) vs ₹92.50 (H1 FY26)
  • Finance costs: ₹49.07 (H1 FY27) vs ₹53.40 (H1 FY26)
  • Depreciation: ₹10.44 (H1 FY27) vs ₹15.49 (H1 FY26)
  • Other expenses: ₹47.73 (H1 FY27) vs ₹69.49 (H1 FY26)
  • Total expenses: ₹2,267.48 (H1 FY27) vs ₹2,104.38 (H1 FY26) - 7.8% increase

Profitability:

  • Profit before tax: ₹197.55 (H1 FY27) vs ₹279.67 (H1 FY26) - 29.4% decrease
  • Tax expense: ₹49.72 (H1 FY27) vs ₹73.00 (H1 FY26)
  • Net profit: ₹147.83 (H1 FY27) vs ₹206.67 (H1 FY26) - 28.5% decrease

Earnings Per Share (Face Value ₹10):

  • Basic EPS: ₹1.40 (H1 FY27) vs ₹1.96 (H1 FY26)
  • Diluted EPS: ₹1.40 (H1 FY27) vs ₹1.96 (H1 FY26)

Balance Sheet Position (as of September 30, 2026)

Equity and Liabilities (₹ in Lakhs):

  • Share capital: ₹1,052.51 (unchanged from March 31, 2026)
  • Reserves and surplus: ₹1,967.64 (increased from ₹1,819.81)
  • Long-term borrowings: ₹127.81 (increased from ₹25.63)
  • Short-term borrowings: ₹833.57 (increased from ₹761.19)
  • Trade payables: ₹538.23 (₹55.57 to micro/small enterprises + ₹482.66 to others)
  • Total liabilities: ₹5,487.57 (increased from ₹5,121.47)

Assets (₹ in Lakhs):

  • Property, plant & equipment: ₹1,192.92 (slight decrease from ₹1,200.64)
  • Inventories: ₹2,731.62 (significant increase from ₹2,109.95)
  • Trade receivables: ₹515.38 (decreased from ₹948.88)
  • Cash and bank balances: ₹176.47 (increased from ₹157.34)
  • Total assets: ₹5,487.57 (increased from ₹5,121.47)

Cash Flow Statement (H1 FY27)

Operating Activities:

  • Net cash used in operating activities: ₹(117.91) lakh vs net cash generated of ₹676.75 lakh in H1 FY26
  • Primary drivers: significant inventory buildup (₹621.67 lakh increase) and decrease in other current liabilities

Investing Activities:

  • Net cash used: ₹(2.71) lakh (primarily PPE purchases of ₹2.72 lakh)

Financing Activities:

  • Net cash generated: ₹125.49 lakh (proceeds from borrowings of ₹257.70 lakh, repayments of ₹83.14 lakh)

Net change in cash: Increase of ₹4.87 lakh

IPO Proceeds Utilization

The company raised ₹1,001.00 lakh through IPO in December 2024 (28,60,000 equity shares at ₹35 per share, including ₹25 premium). As of September 30, 2026:

  • Working capital requirements: ₹750.00 lakh fully utilized
  • General corporate purposes: ₹142.10 lakh fully utilized
  • Issue expenses: ₹108.90 lakh fully utilized
  • Total utilization: ₹1,001.00 lakh (100% of proceeds)

Additional Notes

  • The financial results are subject to limited review by statutory auditors
  • Prepared in accordance with Accounting Standards prescribed under Companies Act 2013
  • EPS figures are not annualized for half-year periods
  • No segment-wise reporting required as company has only one reportable segment
  • No investor complaints outstanding as of September 30, 2026
  • Company has complied with MSME Development Act 2006 disclosure requirements