We wish to inform you that, the credit rating agency viz. CARE Ratings Limited has released an update on Company's Facilities/Instruments enclosed herewith for your records.
This is to inform you that, Mr. Sachin Naik has tendered his resignation from the position of Chief Financial Officer of the Company w.e.f close of business hours on Saturday, May 30, 2026, due to better career opportunities and professional growth prospects.
This is to inform you that, Mr. Sachin Naik has tendered his resignation from the position of Chief Financial Officer of the Company w.e.f close of business hours on Saturday, May 30, 2026, due to better career opportunities and professional growth prospects.
Please find attached Outcome of Board Meeting held on May 28, 2026, towards adoption of Audited Financial Results for the Quarter and Year ended March 31, 2026.
Please find attached Financial Results for the Quarter and Year ended on March 31, 2026
Audited Financial Statements (Standalone and Consolidated) for the Quarter and Year ended March 31, 2026.
Please find attached Newspaper publications towards dispatch of Postal Ballot Notice.
Please find attached Notice of Postal Ballot.
We wish to inform you that, the Board of Directors vide circular resolution passed today i.e May 11, 2026, had approved the appointment of Mr. Abhijeet Jhawar as an Additional Director (Non-Executive Non-Independent Director) on the Board of Directors of the Company w.e.f May 12, 2026.
We wish to inform you that, the Board of Directors vide circular resolution passed today i.e May 11, 2026, had approved: 1. Re-appointment of Mr. Atul Rasiklal Desai as an Independent Director of the Company for a second term of 3 years commencing from June 28, 2026, to June 27, 2029, and 2. Appointment of Mr. Abhijeet Jhawar as an Additional Director (Non-Executive Non-Independent Director) w.e.f May 12, 2026
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from Operations | 125.63 | 119.14 | 145.88 | 144.26 | 128.33 | 144.74 | 148.16 | 177.83 | 153.46 | 133.81 | 131.33 | 155.93 |
| YOY Revenue Growth % | 14.31% | 7.64% | 13.02% | 6.21% | 2.15% | 21.49% | 1.56% | 23.27% | 19.58% | -7.55% | -11.36% | -12.32% |
| Other Income | 1.61 | 2.27 | 1.60 | 2.64 | 0.86 | 1.39 | 0.83 | 6.76 | 1.56 | 3.31 | 0.77 | 0.88 |
| Total Income | 127.24 | 121.41 | 147.48 | 146.90 | 129.19 | 146.13 | 148.99 | 184.59 | 155.02 | 137.12 | 132.10 | 156.81 |
| Total Expenses + | 137.51 | 147.03 | 159.02 | 173.32 | 156.23 | 165.75 | 172.97 | 194.11 | 171.69 | 151.26 | 154.15 | 164.64 |
| Cost of Materials Consumed | 87.23 | 78.45 | 101.84 | 95.25 | 97.29 | 101.60 | 75.90 | 117.46 | 88.12 | 72.71 | 77.04 | 83.70 |
| Employee Benefit Expense | 17.23 | 19.09 | 19.35 | 21.10 | 22.16 | 19.86 | 19.97 | 17.29 | 19.17 | 17.68 | 17.21 | 14.12 |
| Other Expenses | 27.19 | 29.43 | 32.92 | 35.01 | 33.93 | 31.94 | 34.90 | 40.28 | 35.80 | 33.71 | 34.74 | 38.61 |
| Operating Profit | -11.88 | -27.89 | -13.14 | -29.06 | -27.90 | -21.01 | -24.81 | -16.28 | -18.23 | -17.45 | -22.82 | -8.71 |
| OPM % | -9.5% | -23.4% | -9% | -20.1% | -21.7% | -14.5% | -16.7% | -9.2% | -11.9% | -13% | -17.4% | -5.6% |
| Profit Before Tax + | -10.27 | -25.62 | -11.54 | -26.42 | -27.04 | -19.62 | -23.98 | -9.52 | -16.67 | -14.14 | -26.65 | -7.83 |
| Tax Expense | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.44 |
| Tax % | - | - | - | - | - | - | - | - | - | - | - | - |
| Profit After Tax | -10.27 | -25.62 | -11.54 | -26.42 | -27.04 | -19.62 | -23.98 | -9.52 | -16.67 | -14.14 | -26.65 | -7.39 |
| EPS (Basic) | -1.42 | -3.55 | -1.40 | -3.16 | -3.23 | -2.34 | -2.86 | -1.14 | -1.99 | -1.69 | -3.18 | -0.88 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Revenue from Operations | 575.63 | 599.06 | 534.91 | 485.55 | 358.10 | 325.56 | 343.85 |
| YOY Revenue Growth % | -3.91% | 11.99% | 10.17% | 35.59% | 10% | -5.32% | - |
| Other Income | 6.52 | 9.84 | 8.12 | 7.21 | 4.63 | 7.19 | 1.13 |
| Total Income | 582.15 | 608.90 | 543.03 | 492.76 | 362.73 | 332.75 | 344.98 |
| Total Expenses + | 642.94 | 689.06 | 616.88 | 528.91 | 416.21 | 354.54 | 363.68 |
| Cost of Materials Consumed | 321.57 | 392.25 | 362.77 | 345.56 | 252.51 | 198.43 | 218.58 |
| Employee Benefit Expense | 68.49 | 79.28 | 77.11 | 53.43 | 41.48 | 36.71 | 48.68 |
| Other Expenses | 142.90 | 141.05 | 124.21 | 90.27 | 70.58 | 62.52 | 96.42 |
| Operating Profit | -67.31 | -90.00 | -81.97 | -43.36 | -58.11 | -28.98 | -19.83 |
| OPM % | -11.7% | -15% | -15.3% | -8.9% | -16.2% | -8.9% | -5.8% |
| Profit Before Exceptional | -60.79 | -80.16 | -73.85 | -36.15 | -53.48 | -21.79 | -63.10 |
| Exceptional Items | -4.60 | 0.00 | 0.00 | 0.00 | -10.76 | -2.00 | 6.95 |
| Profit Before Tax + | -65.39 | -80.16 | -73.85 | -36.15 | -64.24 | -23.79 | -56.15 |
| Tax Expense | -0.44 | 0.00 | 0.00 | 0.00 | 0.00 | 26.08 | -17.97 |
| Tax % | - | - | - | - | - | - | - |
| Profit After Tax | -64.95 | -80.16 | -73.85 | -36.15 | -64.24 | -49.87 | -38.18 |
| EPS (Basic) | -7.76 | -9.58 | -9.52 | -5.01 | -11.46 | -10.86 | -7.03 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| ASSETS | |||||||
| Non-Current Assets + | 307.88 | 346.99 | 324.61 | 278.25 | 296.61 | 305.21 | 0.00 |
| Property, Plant & Equipment | 293.74 | 299.08 | 271.85 | 268.78 | 270.71 | 278.42 | 0.00 |
| Capital Work in Progress | 0.01 | 26.27 | 33.67 | 1.71 | 0.17 | 0.28 | 0.00 |
| Non-Current Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Intangible Assets | 3.19 | 4.21 | 2.89 | 3.34 | 4.13 | 4.59 | 0.00 |
| Current Assets + | 332.68 | 355.29 | 344.95 | 345.42 | 371.58 | 197.73 | 0.00 |
| Inventories | 102.14 | 133.87 | 116.48 | 113.58 | 97.34 | 88.81 | 0.00 |
| Trade Receivables | 138.34 | 147.87 | 109.85 | 107.52 | 78.49 | 77.72 | 0.00 |
| Cash and Cash Equivalents | 7.14 | 7.06 | 50.35 | 21.21 | 164.61 | 2.65 | 0.00 |
| Current Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| LIABILITIES & EQUITY | |||||||
| Total Equity | 251.18 | 314.98 | 393.18 | 352.55 | 371.92 | 223.07 | 0.00 |
| Equity Share Capital | 16.74 | 16.74 | 16.74 | 14.44 | 14.44 | 10.86 | 0.00 |
| Other Equity | 234.44 | 298.24 | 376.44 | 338.11 | 357.48 | 212.21 | 0.00 |
| Non-Current Liabilities | 13.41 | 32.39 | 32.13 | 23.57 | 93.95 | 30.54 | 0.00 |
| Current Liabilities | 375.97 | 354.91 | 244.25 | 247.55 | 202.32 | 249.33 | 0.00 |
| Total Liabilities | 389.38 | 387.30 | 276.38 | 271.12 | 296.27 | 279.87 | 0.00 |
| Particulars | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 | Mar 2020 |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activities | 31.40 | -58.61 | 17.68 | -47.93 | -40.32 | 3.12 | 0.00 |
| Cash from Investing Activities | -9.21 | -14.44 | -51.35 | -83.78 | -3.28 | 0.30 | 0.00 |
| Cash from Financing Activities | -24.07 | 27.31 | 62.81 | -6.87 | 205.56 | 31.19 | 0.00 |
| Net Increase/Decrease in Cash | -1.88 | -45.74 | 29.14 | -138.58 | 161.96 | 34.61 | 0.00 |