Audited Financial Statement of the company for the half year and financial year ended 31.03.2026
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Glen Industries Ltd reported FY2026 revenue from operations of Rs 20,312.61 Lakhs, up 19% from Rs 17,066.08 Lakhs in FY2025. However, profit after tax declined 8.83% to Rs 1,663.43 Lakhs from Rs 1,824.65 Lakhs, indicating margin compression despite top-line growth. The company completed a major equity issuance of Rs 6,294.22 Lakhs (IPO/public issue), nearly tripling share capital from Rs 1,756.46 Lakhs to Rs 2,406.14 Lakhs. Long-term borrowings reduced by 38% to Rs 3,002.50 Lakhs while short-term borrowings increased to Rs 9,804.97 Lakhs. Cash and bank balance dropped significantly from Rs 199.65 Lakhs to Rs 48.42 Lakhs. The auditor issued an unmodified (clean) opinion with no qualifications. Two GST litigation matters are pending with stay granted by the court.
The company showed revenue growth but profitability declined due to higher input costs and expenses. The large equity raise improved the balance sheet but cash reserves depleted substantially. Shareholders should monitor if the capital raised is being deployed efficiently to improve margins, as the PAT decline despite strong revenue growth raises efficiency concerns.