Outcome of Board Meeting
DEEPINDS · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Deep Industries Limited reported audited standalone financial results for FY ended March 2026 with total revenue of Rs. 17,935.73 lakhs (vs Rs. 16,741.42 lakhs previous year - marginal growth). However, the company reported a net loss of Rs. 11,543.32 lakhs compared to profit of Rs. 9,741.19 lakhs in the previous year. The significant loss was primarily due to an exceptional item of Rs. 20,828.49 lakhs - a one-time write-off of legacy trade receivables from Kandla Energy & Chemicals Limited (KECL), which was amalgamated into the company with appointed date March 31, 2025. The comparative figures have been restated due to this amalgamation. The Board declared a final dividend of Rs. 2.50 per share (50% on face value of Rs. 5). Auditors Mahendra N. Shah & Co. issued an unmodified (clean) opinion. M/s. Manubhai & Shah LLP was re-appointed as internal auditor for FY 2026-27.
The company swung to a loss primarily due to the one-time exceptional write-off of inherited trade receivables post-merger. Without this exceptional item, the underlying operations would show profit. The clean audit opinion provides comfort, but shareholders should note the restated financials and significant one-time charge affecting book value.