In the Board Meeting held on 13th September 2025, following matters have been taken up & approved: 1. The Un-Audited Standalone Financial Results of the Company comprising of profit and ....
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The board approved unaudited standalone and consolidated financial results for H1 FY26 (half year ended September 30, 2025). Revenue from operations rose modestly to ₹9.05 crore from ₹8.51 crore in H1 FY25 (~6% growth), while profit after tax grew about 24% to ₹1.21 crore from ₹0.97 crore. EPS stood at ₹6.72 vs ₹6.28 earlier. However, operating cash flow was deeply negative at -₹4.10 crore, worsening from -₹1.39 crore in FY25, driven by a sharp increase in trade receivables and a fall in trade payables. Cash balance jumped to ₹4.50 crore from ₹0.39 crore, supported entirely by ₹8.89 crore of fresh share issuance (IPO proceeds). The board also gave in-principle approval for an investment and joint venture with Big Bang Boom Solutions Pvt Ltd, a defence/AI/nanotech firm. Additionally, the Company Secretary resigned and was replaced, and a new secretarial auditor (SKD & Associates) was appointed for five years.
Profit growth is encouraging, but the steeply negative operating cash flow is a red flag, suggesting the company is not collecting cash from customers or managing working capital efficiently. The cash buffer looks healthy only because of fresh equity raised — shareholders should watch receivable collection closely. The proposed investment and JV into defence tech and AI signal a strategic diversification move beyond the core rail business, which could be a long-term positive if executed well.