Financial Results Overview
The company reported significant growth in financial performance for FY26:
- Revenue from operations: ₹145.28 crore (FY25: ₹133.14 crore)
- Total income: ₹146.07 crore (FY25: ₹133.35 crore)
- Profit before tax: ₹32.55 crore (FY25: ₹18.68 crore)
- Net profit: ₹32.55 crore (FY25: ₹18.68 crore) - 74% increase YoY
- Earnings per share (basic): ₹16.44 (FY25: ₹9.96)
- Earnings per share (diluted): ₹16.40 (FY25: ₹9.96)
Half-Yearly Performance (H2 FY26)
For the half year ended March 31, 2026:
- Revenue from operations: ₹94.97 lakhs
- Total income: ₹95.81 lakhs
- Profit before tax: ₹21.48 lakhs
- Net profit: ₹21.48 lakhs
- EPS (basic and diluted): ₹10.86
Balance Sheet Position (as of March 31, 2026)
- Total assets: ₹185.77 crore (Previous year: ₹101.05 crore)
- Non-current assets: ₹23.26 crore
- Current assets: ₹162.51 crore (including cash and bank balances of ₹60.23 crore)
- Equity share capital: ₹19.80 crore (Face value ₹10 per share)
- Total liabilities: ₹185.77 crore
Cash Flow Statement
For year ended March 31, 2026:
- Cash flow from operating activities: ₹3.26 crore
- Cash flow from investing activities: ₹15.93 crore
- Cash flow from financing activities: ₹40.24 crore
- Net increase in cash: ₹59.43 crore
- Cash and cash equivalents at year-end: ₹60.23 crore
IPO Proceeds Utilization
The company completed an Initial Public Offering (IPO) on March 27, 2026, with listing on April 1, 2026. Details:
- Gross proceeds from IPO: ₹48.49 crore
- Funds utilized as of March 31, 2026: ₹0.00
- Unutilized amount: ₹48.49 crore
Breakdown of intended use vs actual utilization:
- Repayment/prepayment of borrowings: ₹30.00 crore allocated, ₹0 utilized
- Working capital requirements: ₹7.66 crore allocated, ₹0 utilized
- General corporate purpose: ₹4.65 crore allocated, ₹0 utilized
- Issue-related expenses: ₹6.18 crore allocated, ₹0 utilized
Auditor Appointments and Opinions
1. Statutory Auditors: M/S Vinay I Aggarwal & Associates issued an unmodified opinion on the financial statements. Key observations:
- No material misstatements found
- Adequate internal financial controls in place
- No fraud reported during the year
- No defaults in loan repayments
- Related party transactions compliant with applicable laws
2. Internal Auditor: M/S Maheshwari & Kedawat, Chartered Accountants appointed as Internal Auditor for FY2026-27. The firm was established in 1992 and offers services in audit, taxation, corporate law, and compliance.
Key Audit Matters Highlighted
- The company provided interest-free unsecured loans totaling ₹2.73 crore to relatives of directors and firms in which directors are interested
- These loans were granted without specified repayment terms or interest, which auditors noted as "prejudicial to the interest of the company"
- No schedule of repayment of principal or payment of interest was stipulated
Other Material Information
- The company manufactures reaction vessels, grinding mills, dispensers, and chemical machineries
- Business falls within a single primary segment
- No dividend was recommended for the period
- Previous statutory auditor resigned during the year, replaced by M/S Vinay I Aggarwal & Associates
- Company has no pending litigations that would impact its financial position