Financial Highlights (Standalone)

Income Statement Performance (Half Year Ended September 30, 2026)

  • Revenue From Operations: ₹194.51 crore (vs. ₹99.59 crore in H1 FY26, +95%)
  • Other Income: ₹1.07 crore (vs. ₹2.04 crore in H1 FY26)
  • Total Income: ₹195.58 crore (vs. ₹101.63 crore in H1 FY26)
  • Profit Before Exceptional Items: ₹47.91 crore (vs. ₹18.44 crore in H1 FY26)
  • Exceptional Items: None (vs. None in H1 FY26; ₹2.10 crore negative in FY26)
  • Profit After Exceptional Items: ₹47.91 crore (vs. ₹18.44 crore in H1 FY26)
  • Tax Expense:
  • Current tax: ₹12.10 crore
  • Deferred tax: -₹0.37 crore
  • Net Profit for the Period: ₹36.19 crore (vs. ₹13.62 crore in H1 FY26)
  • Total Comprehensive Income: ₹36.30 crore (vs. ₹13.55 crore in H1 FY26)

Earnings Per Share (Standalone)

  • Basic EPS (Before Exceptional): ₹12.48 (vs. ₹4.77 in H1 FY26)
  • Diluted EPS (Before Exceptional): ₹12.31 (vs. ₹4.74 in H1 FY26)
  • Basic EPS (After Exceptional): ₹12.48 (vs. ₹4.77 in H1 FY26)
  • Diluted EPS (After Exceptional): ₹12.31 (vs. ₹4.74 in H1 FY26)

Balance Sheet Position (Standalone as at September 30, 2026)

Assets

  • Total Assets: ₹453.19 crore (vs. ₹264.43 crore as at March 31, 2026)
  • Non-Current Assets: ₹174.41 crore (includes Property, Plant and Equipment: ₹112.30 crore, Capital Work-In-Progress: ₹17.17 crore)
  • Current Assets: ₹278.78 crore (includes Inventories: ₹71.83 crore, Trade receivables: ₹69.51 crore, Cash and Cash Equivalents: ₹69.20 crore)

Liabilities and Equity

  • Total Equity: ₹319.62 crore (Equity Share capital: ₹14.94 crore, Other Equity: ₹304.68 crore)
  • Non-Current Liabilities: ₹12.84 crore (Borrowings: ₹5.40 crore)
  • Current Liabilities: ₹120.73 crore (Borrowings: ₹4.86 crore, Trade Payables: ₹46.42 crore)

Cash Flow Statement (Standalone for Half Year Ended September 30, 2026)

  • Net cash from operating activities: ₹45.20 crore
  • Net cash used in investing activities: ₹69.86 crore
  • Net cash from financing activities: ₹73.81 crore
  • Net increase in cash and cash equivalents: ₹49.14 crore
  • Cash and cash equivalents at end: ₹69.20 crore (includes Fixed Deposits with bank: ₹56.36 crore)

Consolidated Financial Performance

  • Revenue From Operations: ₹194.51 crore
  • Net Profit for the Period: ₹36.37 crore
  • Total Comprehensive Income: ₹36.48 crore
  • Basic EPS (After Exceptional): ₹12.55
  • Diluted EPS (After Exceptional): ₹12.37

Key Operational and Corporate Developments

IPO Proceeds Utilization (as of September 30, 2026)

The company raised ₹93.51 crore through IPO (listed on BSE SME on December 19, 2024) with the following utilization:

  • Setting up new factory: ₹70.34 crore (fully utilized)
  • General Corporate Purposes: ₹14.76 crore (₹14.09 crore utilized, ₹0.67 crore unutilized)
  • Issue Expenses: ₹8.41 crore (fully utilized)
  • Total unutilized amount: ₹0.67 crore kept in scheduled bank

Preferential Issue (Completed during the period)

  • Issued 12,62,131 equity shares and 8,32,177 convertible equity warrants
  • Issue price: ₹721 per share/warrant (including premium of ₹716)
  • Total proceeds: ₹151.00 crore
  • Warrants convertible into equity shares within 18 months from allotment upon payment of balance 75% consideration
  • Proposed utilization:
  • Capital expenditure: ₹80.00 crore (₹9.16 crore utilized, ₹70.84 crore unutilized)
  • Working capital: ₹36.00 crore (₹20.00 crore utilized, fully utilized)
  • General corporate purposes: ₹30.47 crore (₹0.00 utilized, ₹1.47 crore unutilized)
  • Issue expenses: ₹4.53 crore (fully utilized)
  • Total unutilized amount: ₹72.31 crore kept in scheduled bank

Accounting Policy Change

  • Changed inventory cost determination method from FIFO to Moving Average Cost method
  • Impact of change on financial results is not material

Cyber Fraud Incident Disclosure

  • Company identified cyber fraud involving impersonation of Chinese vendor
  • Total exposure: ₹2.10 crore for year ended March 31, 2026
  • Breakdown: ₹1.36 crore for material received, ₹0.74 crore for non-receipt of goods
  • Matter reported to BSE on March 31, 2026 and April 10, 2026
  • Complaints lodged with National Cyber Crime Reporting Portal and Police Commissioner
  • No involvement of company officers or employees identified
  • Company pursuing recovery through banking channels

Accounting Standards Transition

  • Company transitioned from IGAAP to Ind AS from financial year 2025-26
  • Date of transition: April 1, 2024
  • Previous period figures restated for comparability

Subsidiaries and Joint Ventures

Consolidated results include:

  • Yash HV Power Components Private Limited (Indian subsidiary)
  • Abhigam Foundation (Indian subsidiary)
  • Yash HV USA Inc (Foreign subsidiary)
  • Sukrut Electric Company Private Limited (Joint venture, equity method)