Audited Financial Results for the half year and financial year ended 31st March, 2026
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AIK Pipes reported a sharp revenue decline for FY2026, with total revenue dropping to ₹985.35 lakhs from ₹2,544.57 lakhs in the prior year — a fall of approximately 61%. Profit after tax (PAT) fell to just ₹8.71 lakhs from ₹127.65 lakhs in the previous year, representing a decline of over 93%. The company posted negative operating cash flows of ₹94.20 lakhs for the year, a significant deterioration from ₹3.17 lakhs positive in FY2025. EBITDA margin compressed to approximately 4.1% versus 9.4% the prior year. Short-term borrowings increased substantially to ₹724.39 lakhs (from ₹496.11 lakhs), indicating elevated working capital pressure. The statutory auditor, R P Khandelwal & Associates, issued an unmodified (clean) opinion. The company also reappointed M/s SASH & Associates as internal auditor for FY2026-27.
The stock faces significant pressure due to steep revenue decline, near-zero profitability, and negative operating cash flows. Rising short-term debt levels add to financial risk, though the clean auditor opinion avoids additional concerns about reporting quality.