Integrated Financial Results for the Quarter and Year Ended 31.03.2026

India Homes Limited (formerly India Steel Works Limited) reported total income of Rs. 2,764.52 Lakhs and net profit of Rs. 1,865.54 Lakhs for FY26, a dramatic turnaround from a loss of Rs. 1,339.35 Lakhs in FY25. The company pivoted from discontinued steel operations to real estate activities during the year. However, the auditors from Laxmikant Kabra & Co LLP issued a DISCLAIMER OF OPINION—the most severe audit outcome—citing 11 critical issues including inaccessible accounting records, improperly valued inventories of Rs. 13,696.20 Lakhs, unaudited related party transactions (including WIP from a director and credit notes), unapproved insurance receivables of Rs. 2,793.06 Lakhs, missing balance confirmations, no impairment assessments, and material weaknesses in internal controls with no internal audit function. The auditors explicitly flagged substantial doubt about the company's ability to continue as a going concern, noting current liabilities exceed current assets and operations have substantially ceased. Total financial indebtedness stands at Rs. 9,656.04 Lakhs, with defaults of Rs. 3,237.46 Lakhs (secured) and Rs. 6,418.58 Lakhs (unsecured). The company is also changing auditors to CGCA & Associates LLP.