Company Overview
Pacific Industries Limited, engaged in export, manufacturing and trading of granite tiles, quartz slabs and other goods, reported significant financial deterioration in FY 2025-26. The company operates plants in Udaipur, Rajasthan and Bangalore, Karnataka, with several subsidiaries including Gaze Fashiontrade Limited, Gist Minerals Technologies Limited, and Taanj Quartz INC.
Financial Performance
Consolidated Results: Net profit plummeted 74% to ₹198.93 lakhs from ₹764.76 lakhs in FY25. Revenue from operations declined 37% to ₹15,446.68 lakhs, primarily due to reduced export sales which dropped to ₹12,546.42 lakhs from ₹23,098.35 lakhs. Earnings per share decreased to ₹2.89 from ₹11.10.
Standalone Results: Net profit fell 63% to ₹196.01 lakhs with revenue declining 36.8% to ₹15,446.68 lakhs. The company maintained its equity share capital at ₹689.27 lakhs with 68,92,650 equity shares of ₹10 each fully paid-up.
Subsidiaries Performance
Gaze Fashiontrade Limited reported revenue of ₹993.09 lakhs with net loss of ₹802.14 lakhs. Gist Minerals Technologies Limited showed better performance with revenue of ₹2,474.60 lakhs and net profit of ₹1,852.80 lakhs. Taanj Quartz INC reported nil revenue with net loss of ₹758.52 lakhs.
Corporate Actions & Governance
The Board approved the 37th AGM scheduled for September 23, 2026 via video conferencing and appointed M/s Ronak Jhuthawat & Co. as scrutinizer for e-voting. The share transfer books will remain closed from September 16-23, 2026. No dividend was declared for FY26. The Board comprises 6 directors with 3 independent directors and 1 woman director, led by Chairman & Managing Director Mr. Jagdish Prasad Agarwal.
Investments & Related Party Transactions
The company held investments totaling ₹20,663.94 lakhs including quoted equity instruments (₹271.27 lakhs), unquoted equity instruments (₹4,449.94 lakhs), and preference shares (₹15,942.72 lakhs). Significant related party transactions included loans to Bhola Motor Finance Pvt Ltd (₹1,949.55 lakhs outstanding), remuneration to KMP of ₹128.70 lakhs, and investments in related parties totaling ₹10,805.08 lakhs.
Contingencies & Regulatory Matters
The company faces several tax contingencies including central excise demand of ₹170.62 lakhs, custom duty demand of ₹78.39 lakhs, and income tax demands of approximately ₹85.09 lakhs. Income Tax authorities conducted a search in February 2023, with assessments completed and demands raised. The company spent ₹11.65 lakhs on CSR activities focused on healthcare and education.
Capital Structure & Shareholding
Authorized capital remains at ₹2,500.00 lakhs. Promoters & promoter group held 56.85% as of March 31, 2026, with dematerialized holdings at 96.05%. The company has complied with all mandatory corporate governance requirements under SEBI LODR Regulations, 2015.
Outlook
The management remains cautiously optimistic about recovery in the granite and quartz industry, focusing on operational efficiency and market expansion strategies despite challenging market conditions that significantly impacted FY26 performance.