Results for the quarter and year ended 31st march, 2026
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Indo Gulf Industries reported a net loss of Rs 41.65 lakhs for FY26 compared to a net profit of Rs 653.58 lakhs in FY25, marking a significant turnaround from profit to loss. Revenue from operations declined by about 11% to Rs 21,935 lakhs from Rs 24,702 lakhs in the previous year. The company, which manufactures industrial explosives, faced challenges with rising raw material costs (Rs 19,919 lakhs) and increased finance costs (Rs 80 lakhs vs Rs 48 lakhs). Inventories nearly quadrupled to Rs 1,453 lakhs, while borrowings increased substantially to Rs 2,393 lakhs from Rs 1,153 lakhs. The auditors issued an unmodified (clean) opinion on the financial statements.
The shift to a net loss and double-digit revenue decline are concerning signals for shareholders. The sharp increase in inventory and borrowings suggests working capital stress. However, the clean audit opinion and profitable Q4 performance (Rs 109 lakhs profit) indicate the company may be stabilizing.