Summary of Key Information:
Reporting Period: Financial Year ended March 31, 2026
Nature of Filing / Announcement: Audited Financial Results (Standalone and Consolidated)
Audit Opinion:
Un-modified opinion from statutory auditors Walker Chandiok & Co LLP for both standalone and consolidated financial results.
Key Financial Highlights [₹ in crore]:
Standalone Results:
Income Statement:
- Revenue from Operations: FY26: ₹569.03 vs FY25: ₹599.06 (decrease of ₹30.03 crore)
- Total Income: FY26: ₹575.89 vs FY25: ₹608.92 (decrease of ₹33.03 crore)
- Net Loss: FY26: ₹(63.34) vs FY25: ₹(80.11) (improvement of ₹16.77 crore)
- EPS: FY26: ₹(7.57) vs FY25: ₹(9.57)
Balance Sheet (as at March 31, 2026):
- Paid-up Equity Share Capital: ₹16.74 crore (face value ₹2 per share)
- Other Equity: ₹220.92 crore
- Cash and Cash Equivalents: ₹7.00 crore
- Total Debt: Borrowings ₹157.03 crore (current) + ₹17.49 crore (non-current) = ₹174.52 crore
- Current Liabilities exceed Current Assets by ₹65.48 crore
- Accumulated Losses: ₹543.73 crore
Consolidated Results:
Income Statement:
- Revenue from Operations: FY26: ₹575.63 vs FY25: ₹599.81 (restated) (decrease of ₹24.18 crore)
- Net Loss Attributable to Owners: FY26: ₹(64.95) vs FY25: ₹(81.17) (restated) (improvement of ₹16.22 crore)
- EPS: FY26: ₹(7.76) vs FY25: ₹(9.70) (restated)
Balance Sheet (as at March 31, 2026):
- Paid-up Equity Share Capital: ₹16.74 crore
- Other Equity: ₹234.44 crore
- Cash and Cash Equivalents: ₹7.14 crore
- Assets Held for Sale: ₹27.13 crore (Gurugram property)
- Current Liabilities exceed Current Assets by ₹70.42 crore
- Accumulated Losses: ₹529.75 crore
Segment-wise Performance:
The Company operates in a single business segment - 'Paints' primarily in the domestic market. No separate reportable segments as per Ind AS 108.
Corporate Actions:
Not Specified
Other Significant Information:
Exceptional Items:
- One-time charge of ₹4.60 crore recorded in Q3 FY26 and full year FY26 due to implementation of new labor codes
- ₹4.29 crore towards increased gratuity liability
- ₹0.31 crore towards increased liability for compensated absences
- Driven by revised wage definition under new labor codes effective November 21, 2025
Business Acquisition:
- Through subsidiary IM Inicio Projects Private Limited, acquired painting services business from Hella Infra Market Limited for ₹0.26 crore
- Assumed net liabilities of ₹0.20 crore
- ₹0.46 crore adjusted to reserves
- Comparative figures restated accordingly
Asset Sale:
- Group decided to sell immovable property in Gurugram
- Associated land and building of Shalimar Adhunik Nirman Limited classified as held for sale (₹27.13 crore)
Performance Highlights Management Commentary:
- Achieved positive EBITDA for first time since Hella Infra acquisition
- Executed cost rationalization initiatives reducing employee costs and operating expenses
- Premiumization of portfolio with improved saliency of high-margin emulsion products
- Strengthened foundation for sustainable and profitable growth