Board Meeting Details
The Board meeting commenced at 11:30 AM and concluded at 01:11 PM (IST) on August 12, 2026.
Financial Results Overview
Quarter Ended June 30, 2026 (Unaudited):
- Revenue from operations: ₹121.05 crore
- Other income: ₹3.22 crore
- Total income: ₹124.68 crore
- Total expenses: ₹109.08 crore
- Profit before tax: ₹15.78 crore
- Tax expense: ₹2.22 crore (Current tax: ₹0.03 crore, Deferred tax: ₹0.69 crore, Adjustment of tax relating to earlier periods: ₹1.50 crore)
- Profit for the period: ₹15.57 crore
- Other comprehensive income: ₹0.02 crore
- Total comprehensive income: ₹15.59 crore
- Basic and diluted EPS: ₹1.60
Comparative Figures:
- March 31, 2026 (Audited): Revenue ₹109.99 crore, Profit ₹10.93 crore, EPS ₹1.33
- June 30, 2025 (Unaudited): Revenue ₹104.72 crore, Profit ₹10.97 crore, EPS ₹1.15
Capital Structure
- Paid-up equity share capital: ₹11.61 crore (face value ₹10 each)
- Other equity excluding revaluation reserve: ₹583.10 crore
- Net worth: ₹599.18 crore
Board Approvals
The Board approved the following:
- Secretarial Audit Report for FY ended March 31, 2026
- Directors' Report along with annexures pursuant to Section 134 of Companies Act, 2013 for FY ended March 31, 2026
- Management Discussion and Analysis Report
- Corporate Governance Report for FY ended March 31, 2026
- Draft notice convening Annual General Meeting (AGM) on Monday, September 21, 2026 at 04:00 PM
- Book closure period for AGM: September 15, 2026 to September 21, 2026 (both days inclusive)
- Regularization of Ms. Swati Ghosh (DIN: 08789050) from Additional Independent Director to Woman Independent Director to be placed before shareholders at AGM
IPO Proceeds Utilization
The company received ₹144.75 crore (net of IPO expenses of ₹15.98 crore) from fresh issue of equity shares. Utilization as of June 30, 2026:
- Funding capital expenditure for Semi-conductor & Specialty Gas debulking, blending facility & Land acquisition (Khalapur, Maharashtra): ₹266.18 crore utilized, ₹20.71 crore unutilized
- Funding capital expenditure for Refrigerant debulking & blending facility (Mambatu, Andhra Pradesh): ₹1.00 crore utilized, ₹106.78 crore unutilized
- General Corporate Purposes: ₹0.00 utilized
- Issue Related Expenses: ₹15.98 crore budgeted, ₹11.99 crore utilized
The allocation of IPO proceeds was revised pursuant to a Special Resolution passed by members on May 30, 2026. The revised utilization plan proposed using proceeds for acquisition of approximately 2 acres of land at Khalapur, Maharashtra, instead of originally proposed warehouse construction, resulting in a differential cost of ₹20.13 crore.
Unutilized net proceeds as of June 30, 2026 were temporarily invested in fixed deposits with banks and held in Monitoring Agency Bank Account, IPO Public Issue Account, and company's current account.
Business Segment
The company's business falls within a single business segment of manufacture of industrial gases. No separate segment disclosures are required under Ind AS 108.