Board Meeting Details

The Board of Directors meeting was held on October 30, 2026, at the registered office in Surat, Gujarat. The meeting commenced at 05:00 PM and concluded at 06:15 PM.

Financial Results Overview

Consolidated Financial Results for Half Year Ended September 30, 2026 (₹ in Lakhs):

  • Revenue from Operations: ₹18,300.75
  • Other Income: ₹28.49
  • Total Income: ₹18,329.24
  • Total Expenses: ₹15,632.04
  • Profit Before Tax: ₹2,684.96
  • Tax Expense: ₹576.38 (Current Tax: ₹488.14, Deferred Tax: ₹88.24)
  • Net Profit for Period: ₹2,108.58
  • Earnings Per Share (Basic & Diluted): ₹8.55

Comparative Performance:

| Period | Revenue | Net Profit | EPS |

| H1 FY27 (Sep 2026) | ₹18,300.75 | ₹2,108.58 | ₹8.55 |

| H2 FY26 (Mar 2026) | ₹15,043.38 | ₹1,644.00 | ₹7.54 |

| H1 FY26 (Sep 2025) | ₹15,111.36 | ₹1,471.63 | ₹7.76 |

| FY26 (Mar 2026) | ₹30,154.74 | ₹3,115.63 | ₹14.28 |

Balance Sheet Position as of September 30, 2026 (Consolidated):

Equity and Liabilities (₹ in Lakhs):

  • Shareholders' Funds: ₹20,822.37 (Share Capital: ₹2,465.46, Reserves: ₹18,356.91)
  • Non-current Liabilities: ₹4,264.50 (Long-term borrowings: ₹3,885.85)
  • Current Liabilities: ₹8,828.07 (Short-term borrowings: ₹1,561.86, Trade Payables: ₹6,417.47)

Assets (₹ in Lakhs):

  • Non-current Assets: ₹11,421.08 (Property, Plant & Equipment: ₹9,722.04, CWIP: ₹1,395.81)
  • Current Assets: ₹22,493.86 (Inventories: ₹6,153.71, Trade Receivables: ₹11,602.59, Cash & Cash Equivalents: ₹2,163.56)

Cash Flow Statement (Consolidated):

  • Net Cash from Operating Activities: ₹2,716.66
  • Net Cash used in Investing Activities: (₹1,313.71)
  • Net Cash from Financing Activities: ₹633.59
  • Net Increase in Cash: ₹2,036.54
  • Cash at Beginning: ₹127.02
  • Cash at End: ₹2,163.56

Joint Venture Information:

  • Company incorporated True Colors Advance Materials Private Limited (Joint Venture) on September 15, 2026
  • The JV had no assets, liabilities, income, or expenditure as of September 30, 2026
  • Company invested ₹5.00 lakh in the JV in October 2026 (post-reporting period)
  • Standalone and Consolidated financial results are identical due to the JV having no activity during the period

Segment Information:

  • Single reportable segment: Digital Textile Printing Solutions
  • Accounting Standard 17 (Segment Reporting) not applicable

IPO Fund Utilization:

The company raised ₹10,886 lakh through Initial Public Offer dated September 26, 2025. Utilization as of September 30, 2026:

Annexure A - Object-wise Utilization:

| Object | Amount Disclosed (₹ Lakh) | Amount Utilized (₹ Lakh) | Unutilized (₹ Lakh) |

| Working Capital Requirements | 4,890 | 4,890 | 0 |

| Repayment of Borrowings | 4,183 | 4,183 | 0 |

| IPO Issue Expenses | 816 | 816 | 0 |

| General Corporate Purposes | 997 | 752 | 245 |

| Total | 10,886 | 10,641 | 245 |

Annexure B - Deviation Statement:

  • No deviation/variation in use of funds raised
  • Monitoring Agency: CRISIL Ratings Limited
  • Audit Committee comments: Not provided
  • Auditor comments: No comments

Audit Review:

  • Limited Review conducted by Lakhankiya & Dosi LLP, Chartered Accountants (FRN: 154114W/W100873)
  • Review performed under SRE 2410 issued by ICAI
  • No material misstatements identified in the financial results
  • Audit opinion not modified for the JV incorporation matter