Date: November 03, 2026

Financial Results (Standalone & Consolidated)

Quarterly Performance (Q2 FY27 vs Q2 FY26):

  • Total Income: ₹116.31 Cr (up 56.4% from ₹74.37 Cr in Q2 FY26)
  • Profit Before Depreciation, Interest and Tax (PBDIT): ₹11.84 Cr (vs ₹11.71 Cr in Q2 FY26)
  • PBDIT Margin: 10.18% (down from 15.74% in Q2 FY26)
  • Depreciation & Amortization: ₹9.97 Cr (vs ₹3.66 Cr in Q2 FY26)
  • Finance Costs: ₹7.15 Cr (vs ₹4.70 Cr in Q2 FY26)
  • Profit Before Tax before Exceptional Items: (₹5.29) Cr loss (vs ₹3.34 Cr profit in Q2 FY26)
  • Tax Expenses and Deferred Tax Liability: (₹0.21) Cr (vs ₹0.98 Cr in Q2 FY26)
  • Profit/(Loss) after Tax: (₹5.08) Cr loss (vs ₹2.36 Cr profit in Q2 FY26)

Half-Yearly Performance (H1 FY27 vs H1 FY26):

  • Total Income: ₹192.02 Cr (up 20.2% from ₹159.76 Cr in H1 FY26)
  • PBDIT: ₹17.13 Cr (vs ₹24.86 Cr in H1 FY26)
  • PBDIT Margin: 8.92% (down from 15.56% in H1 FY26)
  • Depreciation & Amortization: ₹18.78 Cr (vs ₹7.04 Cr in H1 FY26)
  • Finance Costs: ₹14.33 Cr (vs ₹9.35 Cr in H1 FY26)
  • Profit Before Tax before Exceptional Items: (₹15.98) Cr loss (vs ₹8.47 Cr profit in H1 FY26)
  • Tax Expenses and Deferred Tax Liability: (₹0.79) Cr (vs ₹2.74 Cr in H1 FY26)
  • Profit/(Loss) after Tax: (₹15.19) Cr loss (vs ₹5.74 Cr profit in H1 FY26)

Full Year Reference (FY26):

  • Total Income: ₹376.37 Cr
  • PBDIT: ₹49.32 Cr
  • PBDIT Margin: 13.10%
  • Depreciation & Amortization: ₹20.33 Cr
  • Finance Costs: ₹20.79 Cr
  • Exceptional Items: ₹0.65 Cr (statutory provision for new labour code)
  • Profit After Tax: ₹4.66 Cr

Management Guidance & Outlook

Revenue Projections:

  • FY27 revenue expected to grow by approximately 33% over FY26
  • FY27 export revenue expected to grow by approximately 50% over FY26
  • Exports projected to contribute around 30% of total revenue

Margin Expectations:

  • Full-year FY27 PBDIT margin expected to improve by around 100 basis points year-on-year
  • Improvement supported by customer price revisions and higher capacity utilization

Operational Highlights:

  • Production increased by 25.8% YoY during H1 FY27
  • Growth driven by enhanced production capacities and increased business from new customers
  • Margin pressure primarily due to steep input cost escalation

Disclosure Framework:

  • Disclosure made under Regulation 30(12) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Financial results disclosed under Regulation 33 of SEBI LODR Regulations
  • Results are unaudited for the quarter ended September 30, 2026

Disclaimer:

  • Projections and forward-looking statements are prudent estimates based on unaudited results and prevailing business conditions
  • Investors advised to consider this information appropriately before making investment decisions

Company Representatives:

  • Sachin R. Shirgaokar (Chairman & Managing Director, DIN: 00254442)
  • Nilesh M. Mankar (Company Secretary and Compliance Officer, Memb.No.:39928)