Board Meeting Details

The Board of Directors meeting was held on August 10, 2026, commencing at 12:30 PM and concluding at 1:30 PM. The meeting approved the unaudited financial results for the quarter ended June 30, 2026.

Standalone Financial Results (₹ in Lakhs)

Income Statement:

  • Revenue from Operations: ₹18,967.46 (vs. ₹944.59 in previous quarter, ₹796.84 in corresponding quarter)
  • Other Income: ₹40.73 (vs. ₹(92.76) in previous quarter, ₹287.06 in corresponding quarter)
  • Total Income: ₹19,008.19 (vs. ₹851.83 in previous quarter, ₹1,083.90 in corresponding quarter)

Expenses:

  • Cost of Stanrose Apartment and related cost: ₹7,788.76
  • Purchases of Stock-in-Trade: ₹823.94
  • Employee benefits expense: ₹53.37
  • Finance costs: ₹63.33
  • Depreciation and amortization: ₹62.18
  • Other expenses: ₹1,753.16
  • Total Expenses: ₹10,544.74

Profitability:

  • Profit before tax: ₹8,463.45 (vs. loss of ₹603.80 in previous quarter, loss of ₹103.58 in corresponding quarter)
  • Current tax: ₹500.00
  • Net Profit for the period: ₹7,963.45 (vs. loss of ₹603.80 in previous quarter, loss of ₹103.58 in corresponding quarter)
  • Total Comprehensive Income: ₹7,963.75

Per Share Data:

  • Paid-up Equity Share Capital: ₹3,216.45 lakhs (Face Value ₹5 each)
  • Basic EPS: ₹12.38 (vs. ₹(0.94) in previous quarter, ₹(0.16) in corresponding quarter)
  • Diluted EPS: ₹12.38

Consolidated Financial Results (₹ in Lakhs)

Income Statement:

  • Revenue from Operations: ₹19,257.28 (vs. ₹972.27 in previous quarter, ₹1,049.49 in corresponding quarter)
  • Other Income: ₹45.29 (vs. ₹(132.86) in previous quarter, ₹296.18 in corresponding quarter)
  • Total Income: ₹19,302.57 (vs. ₹839.41 in previous quarter, ₹1,345.67 in corresponding quarter)

Expenses:

  • Cost of Stanrose Apartment and related cost: ₹7,788.76
  • Purchases of Stock-in-Trade: ₹823.94
  • Changes in inventories of Stock-in-Trade: ₹(22.35)
  • Employee benefits expense: ₹58.86
  • Finance costs: ₹64.93
  • Depreciation and amortization: ₹72.53
  • Other expenses: ₹1,976.96
  • Total Expenses: ₹10,763.63

Profitability:

  • Profit before tax: ₹8,538.94 (vs. loss of ₹721.18 in previous quarter, loss of ₹101.99 in corresponding quarter)
  • Current tax: ₹500.00
  • Net Profit for the period: ₹8,038.94 (vs. loss of ₹721.08 in previous quarter, loss of ₹101.99 in corresponding quarter)
  • Total Comprehensive Income: ₹8,039.24

Per Share Data:

  • Paid-up Equity Share Capital: ₹3,216.45 lakhs (Face Value ₹5 each)
  • Basic EPS: ₹12.50 (vs. ₹(1.12) in previous quarter, ₹(0.16) in corresponding quarter)
  • Diluted EPS: ₹12.50

Segment Performance (Standalone)

Revenue:

  • Property Division: ₹18,102.20 (new segment)
  • Trading: ₹865.26
  • Total: ₹18,967.46

Segment Result (Profit/Loss before tax):

  • Property Division: ₹10,281.95 (vs. loss of ₹30.78 in previous quarter)
  • Trading: ₹42.44 (vs. profit of ₹41.62 in previous quarter)

Segment Assets:

  • Property Division: ₹14,652.14
  • Trading: ₹585.52
  • Total Segment Assets: ₹15,237.66

Segment Performance (Consolidated)

Revenue:

  • Property Division: ₹18,102.20
  • Trading: ₹865.26
  • Manufacturing: ₹289.82
  • Total: ₹19,257.28

Segment Result (Profit/Loss before tax):

  • Property Division: ₹10,281.95
  • Trading: ₹42.44
  • Manufacturing: ₹75.50 (vs. loss of ₹117.28 in previous quarter)
  • Others: ₹(0.03)

Key Transactions and Events

Property Development Rights Assignment:

  • On May 12, 2026, Board approved assignment/transfer of Development Rights for Stanrose Apartment Building (1937.30 sq.mtrs) at Kashinath Dhuru Marg, Dadar (West), Mumbai to Prabhadevi Developer Private Limited.
  • On May 14, 2026, executed Deed of Assignment for consideration of: (i) ₹169,51,41,225/- payable in tranches, and (ii) Four residential flats (25,774.61 sq.ft. RERA carpet) with sixteen car parking spaces.

Electricity Duty Provision:

  • Company provided ₹1,375.74 lakhs for electricity duty liability following Supreme Court ruling favoring Maharashtra government.
  • This relates to captive power plant duty contested since 2000-2001 notifications.
  • Company is filing Review Petition with other affected Captive Power Producers.

Investment in Subsidiary:

  • Investment of ₹5,969.82 lakhs in wholly owned subsidiary Standard Salt Works Limited.
  • No provision for diminution considered necessary due to long-term strategic nature and growth prospects.

Sale of Investment:

  • During FY26, disposed entire investment in Duville Estates Pvt. Ltd. (14,47,714 equity shares) at ₹212 per share.
  • Total consideration: ₹30,69,15,379/-
  • Gain of ₹1,954.43 lakhs accounted as per Ind AS 109.

Dividend Declarations:

  • Interim Dividend of ₹0.55 per equity share (11%) declared on February 12, 2026, paid on March 11, 2026.
  • Final Dividend of ₹0.25 per equity share (5%) recommended on May 12, 2026, subject to shareholder approval.
  • Final dividend not accounted as liability as per Ind AS 10 (declared after reporting period).

Labour Codes Implementation:

  • Government notified Labour Codes on November 21, 2025.
  • Company assessed financial implications resulting in NIL impact for current quarter and FY26.

Auditor Review

  • Limited review conducted by R S Gokani & Co, Chartered Accountants (FRN: 140229W).
  • Review report states nothing came to their attention causing belief that financial results contain material misstatement.
  • Emphasis of Matter regarding investment in Standard Salt Works Limited of ₹5,969.82 lakhs.

Subsidiary Information

Consolidated results include:

  • Standard Industries Limited (Holding Company)
  • Standard Salt Works Limited (Wholly Owned Subsidiary)
  • Mafatlal Enterprises Limited (Wholly Owned Subsidiary)