Summary of Key Information:
Reporting Period (Quarter/Year): Quarter ended June 30, 2026 (Q1 FY27)
Nature of Filing / Announcement: Outcome of Board Meeting pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015
Date of Board Meeting / Approval: August 13, 2026 (Started at IST 03:00 PM, concluded at IST 04:00 PM)
Audit Opinion: Qualified Opinion
Auditor’s Comment: The statutory auditors, M/s. Krishna and Associates, issued a qualified opinion on the standalone unaudited financial results. The qualification is based on a GST demand of ₹290.70 crore (including interest and penalty) raised by authorities for alleged availment of ineligible input tax credit, and an Income Tax demand of ₹10.68 crore. Management has filed appeals against both demands and believes no provision is required. The outcome of these proceedings is pending, and the impact on the financial results is uncertain.
Key Financial Highlights [Amount in ₹ Lakhs]
Standalone Results:
Revenue from Operations (Net Sales): ₹5,195 lakhs for Q1 FY27 (Q1 FY25: ₹7,388 lakhs; YoY change: -29.7%)
Other Income: ₹66 lakhs for Q1 FY27 (Q1 FY25: ₹54 lakhs)
Total Income: ₹5,261 lakhs for Q1 FY27 (Q1 FY25: ₹7,442 lakhs; YoY change: -29.3%)
Net Profit: ₹13 lakhs for Q1 FY27 (Q1 FY25: ₹53 lakhs; YoY change: -75.5%)
Basic EPS (Face Value of ₹1/-): ₹0.01 for Q1 FY27 (Q1 FY25: ₹0.04)
Diluted EPS (Face Value of ₹1/-): ₹0.01 for Q1 FY27 (Q1 FY25: ₹0.04)
Total Comprehensive Income for the period: ₹39 lakhs for Q1 FY27 (Q1 FY25: ₹120 lakhs)
Paid up Equity Share Capital: ₹2,765 lakhs (unchanged)
Expenses Breakdown for Q1 FY27:
- Cost of material consumed: ₹100 lakhs
- Purchase of stock-in-trade: ₹4,917 lakhs
- Changes in inventories: (₹104) lakhs
- Employee benefit expenses: ₹91 lakhs
- Finance costs: ₹89 lakhs
- Depreciation and amortization expense: ₹29 lakhs
- Other expenses: ₹87 lakhs
Total Expenses: ₹5,209 lakhs
Exceptional Item: An exceptional item of ₹4 lakhs was recorded due to an incremental liability from the reassessment of employee benefit obligations following the notification of New Labour Codes in November 2025.
Consolidated Results:
Not Specified. The company confirmed it has no subsidiary, associate, or joint venture, therefore only standalone results are prepared.
Segment-wise Performance:
The company has identified "Manufacturing and trading of copper wires" as its single operating segment, as per Ind AS 108.
Corporate Actions:
Dividend: Not Specified
Share-related actions: Not Specified
Other Significant Information:
Legal Disputes: As noted in the auditor's comment, significant GST and Income Tax demands are under appeal.
Accounting Policy: The results are prepared in accordance with Ind AS 34 and other applicable accounting principles.
Management Outlook: Not Specified