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Awaiting price reaction for this filing.
The board approved unaudited standalone and consolidated financial results for Q1 FY26 (quarter ended 30 June 2025). Consolidated revenue from operations stood at ₹2,148.73 lakhs (down from ₹2,289.70 lakhs in Q1 FY25), but total income rose to ₹2,756.70 lakhs helped by higher other income. Consolidated profit before tax jumped ~74% to ₹174.89 lakhs, with EPS of ₹0.37 (vs ₹2.27 in Q1 FY25 on a smaller equity base post-merger). The company also approved shifting its registered office from Nikol to Kathwada GIDC, Ahmedabad. Separately, it announced the 100% acquisition of Axis Solutions FZE, UAE — a related party transaction since promoter director Mr. Bijal Sanghvi currently owns the target. The deal is valued between ₹30 lakh and ₹1 crore in cash, with completion targeted by 31 March 2026, aimed at expanding into UAE markets for industrial equipment, oilfield, and power generation trading.
Profitability improved sharply year-on-year despite a slight dip in core revenue, which is mildly positive for shareholders. The small UAE acquisition (₹30L–₹1Cr) is a related-party deal done at arm's length and is too small to materially move the needle, though it signals the company's international expansion intent. Investors should watch the merger-related note flagged by auditors and the actual valuation arrived at for the acquisition.