The Board of Directors of PAN HR Solution Limited held a meeting on November 13, 2026, from 4:00 PM to 6:30 PM at the company's registered office in Noida. The meeting considered and approved two main agenda items:

1. Unaudited Financial Results for Half Year Ended September 30, 2026

The Board approved the unaudited standalone financial results for the half year ended September 30, 2026, based on the recommendation of the Audit Committee. The financial highlights include:

Income Statement (Amounts in ₹ Lakhs):

  • Revenue from operations: ₹1,644.46 (compared to ₹1,085.94 in H1 FY26)
  • Other income: ₹267.11 (compared to ₹9.82 in H1 FY26)
  • Total income: ₹1,671.16 (compared to ₹1,086.92 in H1 FY26)
  • Cost of services rendered: ₹1,559.13 (compared to ₹1,023.50 in H1 FY26)
  • Employee benefits expense: ₹326.77 (compared to ₹201.24 in H1 FY26)
  • Finance costs: ₹0.96 (compared to ₹1.29 in H1 FY26)
  • Depreciation and amortization: ₹11.65 (compared to ₹16.88 in H1 FY26)
  • Other expenses: ₹123.35 (compared to ₹64.05 in H1 FY26)
  • Total expenses: ₹1,605.41 (compared to ₹1,051.84 in H1 FY26)
  • Profit before tax: ₹657.53 (compared to ₹350.77 in H1 FY26)
  • Tax expenses: ₹36.37 (including current tax ₹33.36, short provision of tax relating to earlier years ₹7.97, and deferred tax credit of ₹4.96)
  • Net profit for the period: ₹621.16 (compared to ₹318.09 in H1 FY26)

Earnings per share (face value ₹10 per share):

  • Basic EPS: ₹7.64 (not annualized)
  • Diluted EPS: ₹8.61 (not annualized)

2. Statement of Deviation/Variation in Utilization of IPO Proceeds

The Board reviewed and took on record the Statement of Deviation/Variation in utilization of IPO proceeds for the half year ended September 30, 2026, pursuant to Regulation 32 of SEBI LODR Regulations. The company certified that there was no deviation/variation in the use of funds raised.

IPO Proceeds Utilization (Amounts in ₹ Lakhs):

  • Total funds raised: ₹1,404.00 (raised on February 13, 2026)
  • Funding of working capital requirements: Allocated ₹975.00, utilized ₹0.00 as of March 31, 2026, utilized ₹285.35 during April 1-September 30, 2026, unutilized ₹689.65 as of September 30, 2026
  • IPO issue expenses: Allocated ₹218.40, fully utilized as of March 31, 2026
  • General corporate purpose: Allocated ₹210.60, unutilized as of September 30, 2026
  • Total unutilized amount: ₹900.25 as of September 30, 2026

Key Notes from Financial Statements:

1. The results were prepared in accordance with generally accepted accounting principles in India and approved by the Board of Directors.

2. Statutory Auditors reviewed the results as per Regulation 33 of SEBI LODR Regulations.

3. No interim dividend was recommended during the half year ended September 30, 2026.

4. Other income includes ₹167.36 lakhs received under the Pradhan Mantri Viksit Bharat scheme.

5. The company claimed deduction of ₹516.31 lakhs under Section 80JJAA of the Income Tax Act, reducing the effective tax rate below 5%.

6. The company's business falls within a single primary business segment, making AS 17 segment reporting requirements not applicable.

Balance Sheet Highlights (as of September 30, 2026):

  • Share capital: ₹721.11 lakhs
  • Reserves and surplus: ₹3,651.23 lakhs
  • Total equity: ₹4,372.34 lakhs
  • Total assets: ₹6,932.01 lakhs
  • Cash and bank balances: ₹667.42 lakhs
  • Trade receivables: ₹2,156.43 lakhs

Cash Flow Statement Highlights:

  • Net cash used in operating activities: ₹(1,047.92) lakhs
  • Net cash used in investing activities: ₹(718.27) lakhs
  • Cash and cash equivalents at end of period: ₹667.42 lakhs

Auditor's Limited Review Report:

Vinay I Aggarwal & Associates issued a limited review report stating that nothing came to their attention causing them to believe that the financial results contain any material misstatement. The review was conducted in accordance with SRE 2410 issued by ICAI.

Certification of IPO Proceeds Utilization:

The chartered accountants certified that the IPO proceeds have been utilized in accordance with the objects stated in the prospectus, with ₹900.25 lakh remaining unutilized as of September 30, 2026, lying in fixed deposits/company's bank account.