Standalone Financial Performance (₹ Lakhs)
Quarter Ended September 30, 2026:
- Revenue from operations: ₹5,956.96
- Other Income: ₹155.63
- Total Income: ₹6,112.59
- Profit before tax: ₹60.22
- Tax Expense: ₹7.68
- Net Profit: ₹52.54
- Basic EPS: ₹0.00
Half Year Ended September 30, 2026:
- Revenue from operations: ₹14,568.20
- Other Income: ₹459.64
- Total Income: ₹15,027.84
- Profit before tax: ₹120.54
- Tax Expense: ₹64.41
- Net Profit: ₹56.14
- Basic EPS: ₹0.00
Comparative Figures (Quarter):
- September 2025: Net Profit ₹76.79 on Revenue ₹4,592.38
- June 2026: Net Profit ₹3.60 on Revenue ₹8,611.24
Consolidated Financial Performance (₹ Lakhs)
Quarter Ended September 30, 2026:
- Revenue from operations: ₹8,126.94
- Other Income: ₹160.62
- Total Income: ₹8,287.56
- Profit before tax: ₹48.14
- Tax Expense: ₹30.84
- Net Profit: ₹17.30
- Basic EPS: ₹0.00
Half Year Ended September 30, 2026:
- Revenue from operations: ₹20,042.10
- Other Income: ₹465.89
- Total Income: ₹20,507.99
- Profit before tax: ₹374.46
- Tax Expense: ₹157.34
- Net Profit: ₹217.12
- Basic EPS: ₹0.02
Segment Performance (Standalone)
Revenue by Segment (Q2 FY2027):
- Infra & Energy: ₹894.12
- Chemical, Polymers & Special Additives: ₹5,062.83
Segment Results before tax and interest (Q2 FY2027):
- Infra & Energy: ₹3.55
- Chemical, Polymers & Special Additives: ₹491.35
Capital Structure
Paid-up equity share capital remains unchanged at ₹13,883.56 lakhs (Face value ₹1 per share).
Emphasis Matters
Share Capital Reduction:
The company reversed its acquisition of Shamli Steels Private Limited (completed in FY2025 through issuance of 38,03,50,000 equity shares of ₹1 each at ₹4.20 per share via share swap) pursuant to a Termination cum Settlement Agreement dated January 29, 2025. The company has accounted for reduction of share capital by extinguishing these shares and consequential cancellation of securities premium amounting to ₹121.71 crore in its financial statements for FY2025 and FY2026, although approvals from NSE and NCLT are still awaited. BSE approval was received on July 30, 2026, and the matter has been referred to SEBI under Regulation 37 of LODR Regulations.
Income Tax Demands:
The company received demand notices aggregating ₹17.71 crore from Income Tax Department for various assessment years, comprising assessment order demands and self-assessment tax short payments. The company has filed appeals against assessment-related demands and is filing rectification applications for others. Management believes no material liability will arise based on legal advice and case merits. No provision has been recognized in the financial results.
Unclaimed Dividend:
An amount of ₹6.43 lakh remains unclaimed/unpaid beyond seven years and is due for transfer to Investor Education and Protection Fund (IEPF). Transfer delayed due to technical issues on MCA portal. Company is taking steps to complete statutory formalities.
Enforcement Directorate Proceedings:
ED issued Provisional Attachment Order under PMLA against assets of a promoter and associated entities/individuals regarding foreign investment investigations. Proceedings are against promoter in individual capacity only. Company not named as accused, and no company assets attached. Management expects no material adverse impact on company operations or financial position.
Subsidiary Performance
Vikas Organics Private Limited (subsidiary) reported Total Income of ₹7,529.40 lakhs and Net Profit of ₹226.31 lakhs for the period ended September 30, 2026.
Balance Sheet Highlights (Standalone)
As at September 30, 2026:
- Total Assets: ₹46,319.92 lakhs
- Total Equity: ₹39,109.69 lakhs
- Total Liabilities: ₹7,210.23 lakhs
- Inventories: ₹4,371.62 lakhs
- Trade Receivables: ₹10,350.55 lakhs
- Investments: ₹11,816.50 lakhs
- Loans: ₹6,256.47 lakhs
Cash Flow (Standalone Half Year)
- Net cash from operating activities: ₹4,881.16 lakhs
- Net cash used in investing activities: ₹(3,639.09) lakhs
- Net cash used in financing activities: ₹(1,216.85) lakhs
- Net increase in cash: ₹25.21 lakhs