Outcome of the Board Meeting

Key Business Transactions Approved

1. Unaudited Financial Results for H1 FY27:

  • The Board approved the unaudited financial results for the half year ended September 30, 2026.
  • Results were reviewed and recommended by the Audit Committee.

2. Limited Review Report:

  • The Limited Review Report issued by statutory auditors SKSVM & Co. (Firm Registration No. 020455S) for the financial results was reviewed and noted.
  • Auditors concluded nothing came to their attention causing belief that the statement contains material misstatement.

3. Internal Audit Report:

  • Took note of Internal Audit Reports for Q4 FY26, Q1 FY27, and Q2 FY27.

4. Management Representation Letter:

  • Took note of Management Representation Letter dated October 27, 2026, provided to statutory auditors.

5. Related Party Transactions:

  • Took note of Related Party Transactions undertaken during H1 FY27 (ended September 30, 2026) as recommended by Audit Committee.

6. Contracts under Section 189:

  • Approved and took note of contracts and arrangements to be entered in register maintained under section 189 of Companies Act, 2013.

7. MD, CEO and CFO Certification:

  • Took note of CEO and CFO Certification for FY ended March 31, 2026.

8. Revision in Remuneration of Whole-time Directors:

  • Based on Nomination and Remuneration Committee recommendation (October 31, 2026 meeting), approved revision effective October 1, 2026:
  • Mr. Anil K. N.: Relinquished 50% of existing monthly remuneration
  • Mr. Dharanendra H. Gouda: Relinquished 40% of existing monthly remuneration
  • All other terms and conditions remain unchanged.

9. Revision in CEO Remuneration:

  • Based on Nomination and Remuneration Committee recommendation, approved revision for Mr. B. H. Devasingh Naik, CEO, effective October 1, 2026:
  • Relinquished 28% of existing monthly remuneration
  • All other terms and conditions remain unchanged.

10. Corporate Social Responsibility (CSR):

  • Based on CSR Committee recommendation (November 02, 2026 meeting), approved:
  • CSR obligation for FY 2026-27
  • Set-off of eligible excess CSR expenditure from previous FY against FY 2026-27 obligation
  • Proposed CSR expenditure and activities for FY 2026-27

11. Other Matters:

  • Statement of Investor Complaints (Q2 FY27): Zero complaints received
  • Reconciliation of Share Capital Audit Report (Q2 FY27)

Financial Results Analysis

Unaudited Standalone Financial Results for H1 FY27 (₹ in Lakhs):

| Particulars | H1 FY27 (01/04/2026-30/09/2026) | H1 FY26 (01/04/2025-30/09/2025) | FY26 (Audited) |

| Revenue from operations | 5,870.83 | 5,133.79 | 8,103.38 |

| Other Income | 7.23 | 0.66 | 3.95 |

| Total Income | 5,878.06 | 5,134.45 | 8,107.33 |

| Total Expenses | 5,456.83 | 4,671.42 | 7,396.08 |

| Profit before tax | 421.23 | 463.03 | 711.25 |

| Tax Expense | 108.98 | 113.45 | 181.61 |

| Profit after tax | 312.25 | 349.58 | 529.65 |

| EPS (Basic) (₹) | 2.76 | 4.35 | 5.89 |

| EPS (Diluted) (₹) | 2.76 | 4.35 | 5.89 |

*Not annualized

Balance Sheet Position as at September 30, 2026 (₹ in Lakhs):

| Particulars | 30/09/2026 | 30/09/2025 | 31/03/2026 |

| Share Capital | 566.60 | 401.60 | 566.60 |

| Reserves and Surplus | 1,045.13 | 907.63 | 2,732.88 |

| Total Shareholders' Funds | 3,611.73 | 1,309.23 | 3,299.48 |

| Total Assets | 9,570.92 | 6,256.33 | 8,290.31 |

| Inventories | 4,503.90 | 2,618.85 | 4,114.39 |

| Trade Receivables | 3,771.78 | 2,362.87 | 2,432.28 |

| Cash and Cash Equivalents | 239.53 | 287.04 | 248.54 |

Cash Flow Statement for H1 FY27 (₹ in Lakhs):

| Particulars | H1 FY27 (01/04/2026-30/09/2026) | FY26 (Audited) |

| Net Cash from Operating Activities | (634.90) | (2,000.70) |

| Net Cash from Investing Activities | (16.21) | (232.36) |

| Net Cash from Financing Activities | 642.10 | 2,075.74 |

| Net Change in Cash | (9.01) | (157.31) |

Explanatory Notes

1. Financial results prepared in accordance with Regulation 33 of SEBI LODR Regulations 2015

2. Results subjected to limited review by statutory auditors SKSVM & Co.

3. Comparative figures reclassified to conform to current period presentation

4. EPS for H1 FY26 computed based on weighted average shares outstanding pre-IPO. Post-IPO share issuance makes EPS not directly comparable.

Certifications

MD, CEO & CFO certified that:

  • Financial statements don't contain materially untrue statements
  • Present true and fair view of company affairs
  • No fraudulent or illegal transactions
  • Adequate internal financial controls established and maintained
  • Disclosures made to auditors and audit committee regarding control deficiencies, accounting policy changes, and fraud instances