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