Unaudited Financial Results for Q2 and H1 FY27
The Board approved the unaudited standalone financial results for the quarter and half year ended September 30, 2026, which were reviewed by the statutory auditors, S.R. Batliboi & Co. LLP.
Key Financial Figures (Amounts in INR lakhs):
Quarter Ended September 30, 2026 (Unaudited):
- Revenue from Operations: ₹16,355.50
- Other Income: ₹129.31
- Total Income: ₹16,485.21
- Total Expenses: ₹16,335.19
- Profit Before Exceptional Items and Tax: ₹150.02
- Exceptional Items (Income): ₹(12.27) [Reversal related to Labour Codes]
- Profit Before Tax: ₹162.29
- Total Tax Expense: ₹66.53 (Current Tax: ₹46.59, Deferred Tax: ₹19.94)
- Profit for the Period: ₹95.76
- Other Comprehensive Income (net of tax): ₹31.78
- Total Comprehensive Income: ₹127.54
- Basic Earnings Per Share (INR): ₹0.06
- Diluted Earnings Per Share (INR): ₹0.06
Half Year Ended September 30, 2026 (Unaudited):
- Revenue from Operations: ₹34,123.24
- Other Income: ₹199.56
- Total Income: ₹34,322.80
- Profit Before Tax: ₹853.51
- Profit for the Period: ₹550.39
Balance Sheet Highlights as of September 30, 2026 (Unaudited):
- Total Assets: ₹75,544.66 lakh
- Non-Current Assets: ₹61,455.36 lakh (incl. Property, Plant & Equipment: ₹38,551.67 lakh; Right-of-use assets: ₹14,494.75 lakh)
- Current Assets: ₹14,089.30 lakh (incl. Trade Receivables: ₹10,269.86 lakh; Cash & Cash Equivalents: ₹143.55 lakh)
- Total Equity: ₹40,802.19 lakh
- Total Liabilities: ₹34,742.47 lakh
Board and Management Changes
Appointment: Mr. Arun Goyal (DIN: 00044830) was appointed as an Additional Director designated as a Non-Executive Independent Director for a term of 5 years, effective October 28, 2026. His appointment is subject to shareholder approval via a postal ballot. Mr. Goyal is a former IAS officer (1985 batch) with extensive experience in regulatory bodies like the Central Electricity Regulatory Commission and the GST Council.
Cessation: Mr. Anil Aggarwal (DIN: 01385684) ceased to be a Non-Executive Independent Director upon the completion of his second term of 5 consecutive years, effective the close of business hours on October 28, 2026. The Board recorded its appreciation for his contributions.
Contingencies and Notes to Financial Results
1. Krishnapatnam Land Dispute: The company has an advance of ₹885.00 lakh paid for land and a warehouse at Krishnapatnam. The application for registration was rejected by authorities as part of the land was recorded as government land. The total amount spent on the project is ₹4,398.33 lakh. The seller, Gateway Distriparks Ltd. (GDL), has filed an appeal and has agreed to indemnify the company against any losses from an adverse decision.
2. GST Litigation: The company has received demand orders and show cause notices under the GST Act.
- Demand orders under litigation: ₹222.32 lakh (including interest and penalties). A pre-deposit of ₹53.20 lakh has been made, and input tax credit of ₹165.65 lakh has been unilaterally deducted from its ledger.
- Other show cause notices pending: ₹539.93 lakh.
- Total exposure: ₹762.25 lakh.
- The company has provided ₹149.73 lakh against these matters as an "abundant caution," though management believes the demands are not tenable.
3. Income Tax Litigation: For AY 2024-25, the Assessing Officer disallowed a deduction of ₹463.83 lakh under Section 35AD and levied a penalty of ₹206.57 lakh. The company has filed an appeal against the order and a rectification application to reduce the penalty by ₹34.43 lakh. No provision has been made as management expects a favorable outcome.
4. Exceptional Items: A reversal of ₹12.27 lakh was recorded in Q2 FY27 related to the reassessment of the impact of the new Labour Codes, following a larger reversal of ₹162.27 lakh in the previous quarter.
Corporate Action
A notice for a postal ballot will be circulated to shareholders to seek approval for the appointment of Mr. Arun Goyal as an Independent Director.
Meeting Details
The Board meeting commenced at 10:35 AM IST and concluded at 11:55 AM IST on October 28, 2026.