Nature of Disclosure: Regulatory filing pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, submitting the unaudited financial results for the quarter ended 30 June 2026.
Board Meeting Details: A meeting of the Board of Directors was held on 25 July 2026 at the company's registered office in Ahmedabad. The meeting commenced at 11:00 a.m. and concluded at 1:30 p.m. The Board considered and approved the Unaudited Standalone & Consolidated Financial Results for the first quarter ended 30 June 2026.
Standalone Financial Performance (Q1 FY2026 vs Q1 FY2025):
- Revenue from operations: ₹7,420.43 lakh (vs ₹9,259.67 lakh in Q1 FY2025)
- Total Income: ₹7,847.78 lakh (₹7,420.43 + ₹427.35 other income) (vs ₹9,649.98 lakh)
- Profit before tax: ₹1,146.45 lakh (vs ₹1,030.47 lakh)
- Total tax expense: ₹272.84 lakh (vs ₹287.97 lakh)
- Profit for the period: ₹613.61 lakh (vs ₹142.50 lakh)
- Basic & Diluted EPS: ₹0.17 (vs ₹0.19)
Consolidated Financial Performance (Q1 FY2026):
- Revenue from operations: ₹7,824.63 lakh
- Total Income: ₹7,824.63 lakh (other income was nil)
- Profit before tax and share of JV/associates: ₹1,034.80 lakh
- Total tax expense: ₹272.84 lakh
- Profit after tax before share of JV/associates: ₹761.96 lakh
- Share in profit/(loss) of joint ventures and associates (net of tax): ₹82.13 lakh profit
- Profit for the period: ₹844.09 lakh
- Basic & Diluted EPS: Not explicitly stated in the provided data tables
Notes to Results:
- The results were prepared in accordance with Indian Accounting Standards (Ind AS).
- The results have been reviewed by the Audit Committee and the Board of Directors.
- The statutory auditors, MBD & Co LLP, have issued an unmodified limited review report on both the standalone and consolidated results.
- The figures for the quarter ended 31 March 2026 are balancing figures between the audited annual figures and the previously published year-to-date figures for the first three quarters.
- The entire operations of the Company and the Group constitute a single operating segment: "construction and development of infrastructure projects".
Subsidiaries / Associates / Joint Ventures: The Group consists of the following entities as of 30 June 2026:
1. Nila Terminals (Amreli) Private Limited (Wholly Owned Subsidiary)
2. Romanovia Industrial Park Private Limited (Joint Venture)
3. Kent Residential & Industrial Park LLP (Joint Venture)
4. Vyapnila Terminals (Modasa) Private Limited (Associate)
Emphasis of Matter by Auditors: The auditors' report includes an Emphasis of Matter paragraph drawing attention to Note 6 of the Consolidated Financial Results. This note describes a search operation carried out by the Income-tax Department under Section 132 of the Income-tax Act, 1961, at various business premises of the Group and residential premises of certain promoters and key employees on 8 September 2021. Subsequently, search-related assessment orders were passed for the Group's joint ventures for various assessment years. Appeals against these orders are pending before appellate authorities. The management believes these matters will not have a material adverse impact on the Group's financial position. The consequential impact, if any, on the quarterly results is not presently ascertainable.
Auditor's Review Scope: For the consolidated results, the group auditor, MBD & Co LLP, did not review the interim financial results of one subsidiary, two joint ventures, and one associate. These were reviewed by their respective auditors. The group's share of the net profit/(loss) from these entities, before consolidation adjustments, was reported as:
- Subsidiary: Net Loss of ₹(35.46) lakh
- Joint Ventures: Group's share of net profit of ₹56.47 lakh
- Associate: Group's share of net profit of ₹26.66 lakh