Key Financial Figures

Profit & Loss Statement (FY26 vs FY25):

  • Net Profit Before Tax: ₹534.08 lakhs (FY25: ₹391.89 lakhs)
  • Net Profit After Tax: ₹400.03 lakhs (FY25: ₹293.92 lakhs)
  • Total Revenue from Operations: ₹3,037.81 lakhs (FY25: ₹2,324.85 lakhs)
  • Depreciation and Amortization: ₹61.85 lakhs (FY25: ₹25.98 lakhs)
  • Interest Paid: ₹160.60 lakhs (FY25: ₹95.56 lakhs)

Balance Sheet Position (as of 31st March, 2026 vs 31st March, 2025):

  • Total Assets: ₹5,341.62 lakhs (FY25: ₹2,960.12 lakhs)
  • Property, Plant and Equipment: ₹2,228.58 lakhs (FY25: ₹375.37 lakhs)
  • Trade Receivables: ₹2,182.32 lakhs (FY25: ₹1,173.87 lakhs)
  • Cash and Cash Equivalents: ₹133.74 lakhs (FY25: ₹4.83 lakhs)
  • Share Capital: ₹389.23 lakhs (FY25: ₹286.03 lakhs)
  • Reserves and Surplus: ₹2,274.98 lakhs (FY25: ₹702.64 lakhs)
  • Long-term Borrowings: ₹908.43 lakhs (FY25: ₹614.01 lakhs)
  • Short-term Borrowings: ₹1,110.17 lakhs (FY25: ₹777.42 lakhs)

Cash Flow Statement (FY26):

  • Net Cash Used in Operating Activities: ₹(579.57) lakhs
  • Net Cash Used in Investing Activities: ₹(1,029.48) lakhs
  • Net Cash from Financing Activities: ₹1,737.96 lakhs
  • Net Increase in Cash and Cash Equivalents: ₹128.91 lakhs

Dates of Action

  • Board Meeting Date: 26th May, 2026
  • Financial Year End: 31st March, 2026
  • Half Year End: 31st March, 2026
  • IPO Listing Date: 30th January, 2026

Parties Involved

  • Statutory Auditors: M/s. S G P S & Associates, Chartered Accountants (Firm Registration No. 132946W)
  • Stock Exchange: BSE Limited (BSE SME Platform)
  • Signatories: Bhumi Mehta (Company Secretary & Compliance Officer), Vipul B. Solanki (Managing Director), Geetaben Parekh (Chief Financial Officer)

IPO Proceeds Utilization

The company made an Initial Public Offering comprising a Fresh Issue of 10,32,000 Equity shares of Face Value of ₹10 each at a premium of ₹134 each, raising total proceeds of ₹1,486.08 lakhs.

Utilization of IPO proceeds as of 31st March, 2026:

  • Purchase of Plant and Machinery: ₹131.19 lakhs utilized (₹247.81 lakhs unutilized)
  • Prepayment/Repayment of secured loans: ₹217.00 lakhs utilized
  • Funding of Working Capital requirements: ₹400.00 lakhs utilized
  • General Corporate Purpose: ₹222.91 lakhs utilized
  • Offer Related Expenses: ₹267.17 lakhs utilized
  • Total Utilized: ₹1,238.27 lakhs
  • Unutilized: ₹247.81 lakhs

Of the unutilized amount, ₹105.84 lakhs was temporarily invested in fixed deposits with scheduled banks and ₹141.97 lakhs was utilized for interim working capital requirements. Management represented this utilization was short-term and temporary, with the entire amount subsequently made available prior to approval of financial statements.

Additional Information

  • The company was listed on the BSE SME Platform on 30th January, 2026
  • Financial results for the half year ended 30th September, 2025 were not previously published under Regulation 33 as the company was not listed during that period
  • The figures for the half year ended March 31, 2026 are balancing figures between the audited full year figures and the unpublished half year ended September 30, 2025
  • Previous period figures have been regrouped and reclassified where necessary for comparability
  • Half-yearly earnings per share are not annualized

Capital Structure Impact

The IPO resulted in an increase in share capital from ₹286.03 lakhs to ₹389.23 lakhs and significant growth in reserves and surplus from ₹702.64 lakhs to ₹2,274.98 lakhs.

Cash Flow Implications

Significant cash inflow from financing activities (₹1,737.96 lakhs) primarily from IPO proceeds and increased borrowings, offset by cash outflows from investing activities (₹1,029.48 lakhs) mainly for purchase of fixed assets and operating activities (₹579.57 lakhs).