United Van Der Horst Q2 FY27 Net Profit ₹12.64 Cr

Key Quantitative Figures

Financial Performance (Standalone) - Quarter Ended 30-Sep-2026 (₹ in Lakhs):

Revenue from operations: ₹1,001.32
Total Income: ₹1,010.55
Total Expenses: ₹854.02
Profit before tax: ₹156.53
Current Tax: ₹34.49
Deferred Tax Credit: ₹(4.36)
Profit for the period: ₹126.40
Total Comprehensive Income: ₹127.24
Basic and Diluted EPS: ₹0.18

Financial Performance (Standalone) - Half Year Ended 30-Sep-2026 (₹ in Lakhs):

Revenue from operations: ₹1,916.34
Total Income: ₹1,931.29
Total Expenses: ₹1,621.97
Profit before tax: ₹309.32
Current Tax: ₹69.86
Deferred Tax: ₹0.64
Profit for the period: ₹238.82
Total Comprehensive Income: ₹239.63
Basic and Diluted EPS: ₹0.35

Financial Performance (Consolidated) - Quarter Ended 30-Sep-2026 (₹ in Lakhs):

Profit before share of associate: ₹156.53
Share of Profit/(loss) of Associates: ₹(0.59)
Profit before tax: ₹155.94
Profit for the period: ₹125.81
Total Comprehensive Income: ₹126.68
Basic and Diluted EPS: ₹0.18

Financial Performance (Consolidated) - Half Year Ended 30-Sep-2026 (₹ in Lakhs):

Profit before share of associate: ₹309.32
Share of Profit of Associates: ₹0.12
Profit before tax: ₹309.44
Profit for the period: ₹238.94
Total Comprehensive Income: ₹239.78
Basic and Diluted EPS: ₹0.35

Balance Sheet Position as at 30-Sep-2026 (Standalone) (₹ in Lakhs):

Total Assets: ₹12,667.87
Property, Plant & Equipment: ₹6,939.22
Capital work-in-progress: ₹2,197.43
Inventories: ₹1,112.27
Trade Receivables: ₹1,959.97
Cash and Cash Equivalents: ₹36.34
Total Equity: ₹5,556.05
Borrowings (Non-current): ₹1,994.27
Borrowings (Current): ₹3,240.52
Trade Payables: ₹549.35 (Micro Enterprises: ₹132.47 + Others: ₹416.88)

Cash Flow (Standalone) - Half Year Ended 30-Sep-2026 (₹ in Lakhs):

Net cash from operating activities: ₹446.20
Net cash used in investing activities: ₹(2,368.64)
Net cash from financing activities: ₹1,853.07
Net change in cash: ₹(69.37)

Dates of Action

Board Meeting Date: 06-Nov-2026
Time of Commencement: 3:30 PM
Time of Conclusion: 5:40 PM
Financial Period: Quarter and Half Year ended 30-September-2026
Record date for share split: 22-Jan-2026 (historical)
Shareholder approval for share split: 07-Nov-2025 (historical)

Parties Involved

Associate: Max Udaan Foundation
Statutory Auditors: C K S P AND CO LLP (FRN: 131228W/W100044)
Auditor Partner: Dhananajay Premchand Jaiswal (M.No. 187686)
Chief Financial Officer: Kalpesh Kantilal Shah
Director: Akshay Ashokan Veliyil (DIN: 07826136)
Preferential Allottees: Jagmeet Singh Sabharwal (Promoter), Saloni R Shah (Non-Promoter), Foresight Holdings Pvt. Ltd. (Non-Promoter), Jaidev Rajnikant Shroff (Non-Promoter)
Regulatory Authority: Panvel Municipal Corporation (in dispute)
Industry Body: Taloja Manufacturing Association (in dispute)

Corporate Actions Approved

1. Financial Results Approval

Approved Un-audited Financial Results (Standalone and Consolidated) for quarter and half year ended 30th September, 2026
Limited Review Report received from statutory auditors

2. Authorized Share Capital Increase

Proposed increase from ₹7,00,00,000 (7 crore shares of Re.1/- each) to ₹8,00,00,000 (8 crore shares of Re.1/- each)
Subject to shareholder approval through Postal Ballot
Clause 5 of Memorandum of Association to be altered accordingly

3. Preferential Issue

Approval for raising funds by issuing up to 62,50,000 equity shares
Issue price: ₹32 per share (Face value: Re.1/- + Premium: ₹31/-)
Total amount: ₹20,00,00,000 (Twenty Crores)
To be allotted to identified Promoters and Non-Promoters
Subject to shareholder and regulatory approvals
Compliance with SEBI (ICDR) Regulations, 2018, Chapter V

Preferential Allotment Details:

| Jagmeet Singh Sabharwal | Promoter | 15,62,500 | 5,00,00,000 | 4,72,70,850 (68.56%) | 4,88,33,350 (64.94%) |

| Saloni R Shah | Non-Promoter | 3,12,500 | 1,00,00,000 | 65,000 (0.09%) | 3,77,500 (0.50%) |

| Foresight Holdings Pvt. Ltd. | Non-Promoter | 6,25,000 | 2,00,00,000 | 1,44,500 (0.21%) | 7,69,500 (1.02%) |

| Jaidev Rajnikant Shroff | Non-Promoter | 37,50,000 | 12,00,00,000 | 0 (0.00%) | 37,50,000 (4.99%) |

| Total | | 62,50,000 | 20,00,00,000 | | |

Operational and Business Information

Segment Information (₹ in Lakhs):

Quarter Ended 30-Sept-2026:

Manufacturing Revenue: ₹322.30
Job work & Reconditioning Revenue: ₹679.02
Total Revenue: ₹1,001.32

Half Year Ended 30-Sept-2026:

Manufacturing Revenue: ₹707.49
Job work & Reconditioning Revenue: ₹1,208.85
Total Revenue: ₹1,916.34

Business Activities:

Design, Manufacture and Supply of Marine Engine Parts (2 stroke & 4 stroke)
Design, Manufacture and Supply of Hydraulic/Pneumatic cylinders (up to 1500 mm diameter, 10 meter length)
Design, Manufacture Flanged connectors, Other End connectors and Ring Gaskets (PSL1 to PSL3)
Repair/Remanufacture Hydraulic/Pneumatic Cylinders, Flanged connectors, Other End connectors, Ring gaskets (PSL1 to PSL3)
Ram BOP and Annular BOP, Marine & Land Engines (2 stroke and 4 stroke)

Legal and Contingent Matters

Property Tax Dispute:

During FY 2024-25, company recognized ₹75.84 lakhs in Other Expenses for property tax demand from Panvel Municipal Corporation
50% of demanded amount paid in FY 2024-25, balance 50% unpaid as of 30-Sept-2026
Taloja Manufacturing Association has filed case in court challenging levy and computation
Company monitoring matter with authorities and legal advisors
Final liability to be determined based on court outcome

Capital Structure Impact

Preferential issue will increase paid-up capital by 62.5 lakh shares (from 689.44 lakh to 751.94 lakh shares)
Promoter holding will decrease from 68.56% to 64.94% post-issue
Authorized capital increase proposal (if approved) will enable future issuances

Share Capital History

Company executed share split effective 22-Jan-2026: each ₹5 face value share split into 5 shares of ₹1 each
Paid-up equity shares increased from 1,37,90,000 to 6,89,50,000
EPS figures for comparative periods restated accordingly

Audit and Review Information

Financial results reviewed by Audit Committee and approved by Board
Statutory auditors conducted limited review pursuant to Regulation 33 of SEBI (LODR)
Unmodified conclusion in review report
Consolidated results include associate company Max Udaan Foundation (not reviewed by auditors)
Associate company contribution: Share of net loss ₹0.59 lakhs for quarter, profit ₹0.12 lakhs for half year

Cash Flow Implications

Preferential issue will bring cash inflow of ₹20 crores
Significant capex outflow: ₹2,395.01 lakhs for Property, Plant & Equipment & CWIP in half year
Net cash from operations: ₹446.20 lakhs
Net borrowing increase: ₹1,963.41 lakhs

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