Board Meeting Details

The Board of Directors meeting was held on Saturday, May 30, 2026, commencing at 5:30 PM and concluding at 9:30 PM.

Key Outcomes

1. Approval of Audited Standalone Financial Results

The Board approved the Audited Standalone Financial Results for the quarter and year ended March 31, 2026, along with Audited Standalone Financial Statements for FY2026.

Auditor Details:

  • Statutory Auditors: M/s Amitabh Agrawal & Co., Chartered Accountants
  • Auditor Opinion: Unmodified opinion issued for both standalone and consolidated results
  • Results available on company website: www.vaswaniindustries.com

2. Approval of Preferential Issue of Equity Shares

The Board approved raising funds up to ₹9,87,00,000 (₹9.87 crore) by issuing equity shares on preferential basis, subject to shareholder and regulatory approvals.

Preferential Issue Details:

  • Type of Security: Equity Shares
  • Total Number: 16,45,000 equity shares of face value ₹10 each
  • Issue Price: ₹60 per share (₹10 face value + ₹50 premium)
  • Total Amount: ₹9,87,00,000
  • Regulatory Framework: Chapter V of SEBI (ICDR) Regulations, 2018 read with Companies Act, 2013
  • Price Determination: Issue price shall not be lower than floor price determined under SEBI regulations

Proposed Allottees (All Promoter Group):

1. Mr. Ravi Vaswani - 3,94,460 shares

2. Mr. Yashwant Vaswani - 3,94,450 shares

3. Mr. Kushal Vaswani - 3,94,450 shares

4. Smt. Manisha Vaswani - 1,53,845 shares

5. Smt. Sudha Vaswani - 1,53,845 shares

6. Smt. Tanya Vaswani - 76,975 shares

7. Smt. Jyotsna Vaswani - 76,975 shares

Shareholding Impact:

  • Pre-issue Share Capital: 3,29,46,200 equity shares
  • Post-issue Share Capital: 3,45,91,200 equity shares (assuming full allotment)
  • Promoter Holding Change: From 61.88% to approximately 62.48% (subject to price adjustment)

Financial Results Analysis

Standalone Financial Performance (₹ in lakhs)

Quarter Ended March 31, 2026:

  • Revenue from operations: ₹14,388.62
  • Other income: ₹19.39
  • Total income: ₹14,408.01
  • Total expenses: ₹13,417.71
  • Profit before tax: ₹990.29
  • Tax expense: ₹450.93 (deferred tax)
  • Net profit: ₹539.35
  • EPS: ₹1.67 (basic and diluted)

Year Ended March 31, 2026:

  • Revenue from operations: ₹46,737.09
  • Other income: ₹82.81
  • Total income: ₹46,819.90
  • Total expenses: ₹45,418.66
  • Profit before tax: ₹1,401.25
  • Tax expense: ₹976.90 (deferred tax)
  • Net profit: ₹424.35
  • EPS: ₹1.31 (basic and diluted)

Comparative Performance (Year-on-Year):

  • Revenue increased from ₹41,163.59 lakhs (FY25) to ₹46,737.09 lakhs (FY26)
  • Net profit decreased from ₹860.43 lakhs (FY25) to ₹424.35 lakhs (FY26)
  • EPS decreased from ₹2.81 (FY25) to ₹1.31 (FY26)

Balance Sheet Position (as at March 31, 2026)

Assets (₹ in lakhs):

  • Property, Plant & Equipment: ₹33,484.96 (vs. ₹11,199.69 in FY25)
  • Capital Work in Process: ₹940.93 (vs. ₹6,713.41 in FY25)
  • Total Assets: ₹50,831.49 (vs. ₹36,190.29 in FY25)

Liabilities (₹ in lakhs):

  • Borrowings (Non-current): ₹21,851.15 (vs. ₹10,928.04 in FY25)
  • Total Equity & Liabilities: ₹50,831.49 (vs. ₹36,190.29 in FY25)

Segment-wise Performance (FY2026)

Revenue Breakdown:

  • Iron & Steel: ₹42,788.25 lakhs
  • Power: ₹4,031.64 lakhs
  • Total Segment Revenue: ₹46,819.89 lakhs

Segment Results:

  • Iron & Steel profit: ₹813.87 lakhs
  • Power profit: ₹2,344.54 lakhs
  • Total Segment profit: ₹3,158.41 lakhs

Cash Flow Statement (FY2026)

  • Net cash from operating activities: ₹1,833.48 lakhs
  • Net cash used in investing activities: ₹(15,831.88) lakhs
  • Net cash from financing activities: ₹11,116.33 lakhs
  • Net decrease in cash: ₹(2,882.07) lakhs

Important Notes to Financial Results

1. MSME Disclosures: The company is in process of compiling information from suppliers regarding their coverage under MSME Act. Amount due to micro and small enterprises has been determined to the extent such parties have been identified.

2. Tax Provision: No provision for current income tax considered necessary due to higher depreciation charged on newly capitalized Solar Power plant and Induction Furnace Plant.

3. Quarterly Figures: Figures for quarter ended March 31, 2026 are balancing figures between audited full year and published year-to-date figures.

4. Exceptional Items: FY2025 included exceptional items of ₹352.95 lakhs (write-off of MAT credit entitlement and loss on buyback of shares).

Auditor's Report Emphasis Matters

The auditors emphasized:

  • The process of compiling MSME-related disclosures from suppliers
  • The quarterly results being balancing figures between audited full year and published unaudited figures