Key Business Transacted

The Board of Directors at their meeting held on 27 May 2026 transacted the following business:

1. Approval of Financial Results: Approved the Audited Financial Results for the Financial Year ended 31st March, 2026 and the Unaudited Financial Results for the quarter ended 31st March, 2026. The results were reviewed by the Audit Committee and approved by the Board. The statutory auditor, Walker Chandiok & Co LLP, issued a report with an unmodified opinion.

2. Dividend Recommendation: Recommended a final equity dividend of ₹40 per share (400%) of face value ₹10 each for FY 2025-26. Additionally, recommended a special dividend of ₹60 per share (600%) on account of the Thane land sale. The total aggregate dividend recommended is ₹100 per share (1000%), subject to shareholder approval at the ensuing Annual General Meeting (AGM). The AGM date and record date will be communicated separately. For the previous financial year (2024-25), a final dividend of ₹35 per share (350%) was paid on 22 September 2025.

3. Management Change: Pursuant to Regulation 30 of SEBI LODR, based on the recommendation of the Nomination and Remuneration Committee, the Board elevated Mr. Nisar Hassan from Chief Operating Officer (COO) & Manager to Chief Executive Officer (CEO) with immediate effect. He will continue as a Key Managerial Personnel (KMP). Mr. Jayant Divekar (CFO) and Mr. Bhautesh Shah (Company Secretary & Compliance Officer) continue in their existing roles.

Detailed Financial Results (Standalone)

(All figures in ₹ lakhs)

For the Year Ended 31 March 2026 (Audited)

  • Total Income: ₹22,828.14
  • Total Expenses: ₹17,297.30
  • Profit Before Exceptional Item and Tax: ₹5,530.84
  • Exceptional Item - Gain on sale of investment property (Thane land): ₹27,353.05 (Refer Note 6)
  • Profit Before Tax: ₹32,883.89
  • Total Tax Expense: ₹4,897.68
  • Current Tax: ₹4,928.14
  • Deferred Tax Credit: (₹8.84)
  • Prior Period Tax Adjustments: (₹21.62)
  • Net Profit for the Year: ₹27,986.21
  • Other Comprehensive Income (net of tax): ₹2.72
  • Total Comprehensive Income for the Year: ₹27,988.93
  • Paid-up Equity Share Capital: ₹197.50 (Face value ₹10 each)
  • Other Equity: ₹41,262.09 (Previous year: ₹13,964.41)
  • Earnings Per Share (Basic and diluted): ₹1,417.02

For the Quarter Ended 31 March 2026 (Unaudited)

  • Total Income: ₹8,132.96
  • Total Expenses: ₹5,555.99
  • Profit Before Exceptional Item and Tax: ₹2,576.97
  • Exceptional Item - Gain: ₹27,353.05
  • Profit Before Tax: ₹29,930.02
  • Total Tax Expense: ₹4,167.07
  • Current Tax: ₹4,152.31
  • Deferred Tax Charge: ₹14.76
  • Net Profit for the Quarter: ₹25,762.95
  • Other Comprehensive Income: ₹2.72
  • Total Comprehensive Income for the Quarter: ₹25,765.67
  • Earnings Per Share (Basic and diluted, not annualized): ₹1,304.45

Statement of Assets and Liabilities as at 31 March 2026 (Audited)

  • Total Assets: ₹49,286.34 (Previous year: ₹19,572.99)
  • Non-Current Assets: ₹6,947.14
  • Current Assets: ₹42,339.20
  • Investments: ₹23,632.15
  • Cash and Cash Equivalents: ₹6,656.00
  • Trade Receivables: ₹5,218.50
  • Inventories: ₹3,130.38
  • Total Equity: ₹41,459.59 (Previous year: ₹14,161.91)
  • Total Liabilities: ₹7,826.75 (Previous year: ₹5,411.08)

Cash Flow for the Year Ended 31 March 2026 (Audited)

  • Net Cash Generated from Operating Activities: ₹2,527.90
  • Net Cash Generated from/(Used in) Investing Activities: ₹2,617.62
  • Includes proceeds from disposal of investment property (net of income tax paid ₹3,505.07): ₹23,860.70
  • Net Cash Used in Financing Activities: (₹806.29)
  • Dividend Paid: (₹691.25)
  • Net Increase in Cash and Cash Equivalents: ₹4,339.23
  • Cash and Cash Equivalents at year-end: ₹6,656.00

Notes to Financial Results

  • Note 4 (Segment Reporting): The Company has one operating segment: "Alloy and Steel Castings".
  • Note 5 (Dividend): Details the recommended dividend.
  • Note 6 (Exceptional Item): The Company disposed of its investment property in Thane, Maharashtra, for a total consideration of ₹28,019.42 lakhs. An exceptional gain of ₹27,353.05 lakhs was recognized after deducting selling expenses of ₹653.65 lakhs and the carrying value of ₹12.72 lakhs.
  • Note 7 (New Labour Codes): The impact of the newly notified Labour Codes on gratuity and leave provisioning is assessed as nominal. The Company continues to monitor developments.
  • Note 8: The Company has no subsidiary, associate, or joint venture entities.

Management and Compliance Details

  • Board Meeting Timing: Commenced at 5:10 PM IST and concluded at 7:50 PM IST.
  • Large Corporate Status: The Company confirmed it is not classified as a Large Corporate per SEBI circulars.
  • Designated Officers for Disclosures: Mr. Nisar Hassan (CEO), Mr. Jayant Divekar (CFO), and Mr. Bhautesh Shah (Company Secretary & Compliance Officer).
  • Auditor's Report: Walker Chandiok & Co LLP issued an unmodified opinion but included an "Emphasis of Matter" paragraph drawing attention to the gain on the Thane land sale (Note 6).
  • Profile of New CEO (Mr. Nisar Hassan): A seasoned business leader with over 25 years of experience across B2B, B2C, off-road equipment, hybrid vehicles, metals, energy, and engineering. He has been with the company as COO & Manager since 11 November 2024.