Financial Results Summary

The Board of Directors approved the unaudited financial results for the half-year ended September 30, 2026 (H1 FY27) at their meeting held on November 13, 2026, which commenced at 11:00 a.m. and approved the results at 11:50 a.m.

Standalone Financial Performance (₹ lakhs)

  • Revenue from operations: ₹12,112.84 (H1 FY27) vs ₹14,405.05 (H1 FY26) vs ₹21,905.77 (H2 FY26)
  • Total income: ₹12,141.96 (H1 FY27) vs ₹14,430.82 (H1 FY26) vs ₹21,931.81 (H2 FY26)
  • Profit before tax: ₹744.03 (H1 FY27) vs ₹1,522.36 (H1 FY26) vs ₹2,980.93 (H2 FY26)
  • Net profit: ₹492.92 (H1 FY27) vs ₹1,109.77 (H1 FY26) vs ₹2,225.54 (H2 FY26)
  • Earnings per share (basic and diluted): ₹2.94 (H1 FY27) vs ₹6.73 (H1 FY26) vs ₹13.50 (H2 FY26)

Consolidated Financial Performance (₹ lakhs)

  • Revenue from operations: ₹12,112.84 (H1 FY27) vs ₹14,405.05 (H1 FY26) vs ₹21,905.77 (H2 FY26)
  • Total income: ₹12,141.96 (H1 FY27) vs ₹14,430.82 (H1 FY26) vs ₹21,931.81 (H2 FY26)
  • Profit before tax: ₹747.64 (H1 FY27) vs ₹1,538.00 (H1 FY26) vs ₹2,980.93 (H2 FY26)
  • Net profit: ₹492.92 (H1 FY27) vs ₹1,109.77 (H1 FY26) vs ₹2,225.54 (H2 FY26)
  • Earnings per share (basic and diluted): ₹2.94 (H1 FY27) vs ₹6.73 (H1 FY26) vs ₹13.50 (H2 FY26)

Balance Sheet Position (Standalone as of September 30, 2026)

  • Share capital: ₹2,089.34 lakh (increased from ₹1,648.06 lakh as of March 31, 2026)
  • Reserves and surplus: ₹17,437.20 lakh (increased from ₹6,111.35 lakh as of March 31, 2026)
  • Cash and cash equivalents: ₹9,487.11 lakh (significantly increased from ₹10.50 lakh as of March 31, 2026)
  • Total assets: ₹27,322.32 lakh (increased from ₹15,547.02 lakh as of March 31, 2026)

IPO Proceeds Utilization

The Board reviewed the Monitoring Agency Report from ACER Credit Rating Private Limited for the half-year ended September 30, 2026:

  • IPO details: 44,12,800 equity shares of face value ₹10 each at ₹273 per share (including premium of ₹263 per share)
  • Gross proceeds: ₹12,046.94 lakh
  • Net proceeds: ₹10,873.92 lakh
  • Listing date: September 18, 2026 on BSE SME Platform
  • Funds utilized as of September 30, 2026: ₹3,172.28 lakh
  • No deviation or variation reported in the utilization of IPO proceeds from objects stated in the prospectus

Breakdown of IPO Proceeds Utilization:

  • Capital expenditure for manufacturing facility: ₹360.00 lakh utilized (original allocation ₹6,213.66 lakh)
  • Working capital requirements: ₹1,670.67 lakh utilized (original allocation ₹3,500.00 lakh)
  • Repayment of borrowings: ₹0 utilized (original allocation ₹728.34 lakh)
  • General corporate purposes: ₹25.41 lakh utilized (original allocation ₹431.92 lakh)
  • Offer-related expenses: ₹1,116.20 lakh utilized (original allocation ₹1,173.02 lakh)

Audit Review

The Limited Review Reports for both standalone and consolidated financial results were issued by M/s. TU & Co., Chartered Accountants (Firm Registration No. 004555N), with unmodified conclusions. The reports were signed by CA Tilak Chandna (Partner, Membership No. 082382).

Additional Information

  • The company is engaged in electrical transformers, control panels and allied activities
  • Single reportable business and geographical segment (India)
  • Deferred tax asset of ₹151.008 lakh on share issue expenses not recognized as commercial production of new unit has not commenced
  • The company is exempt from IND-AS adoption as it is listed on SME Exchange
  • Subsidiary: Haryana Power Industries (Wholly Owned Partnership Firm)