Statement on Deviation /Variation for proceeds of public issue for the half year ended 30th September 2025
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
Indobell Insulations reported H1 FY26 (ended Sept 30, 2025) results with revenue from operations rising to Rs. 700.40 lakhs from Rs. 554.30 lakhs a year ago, a 26% jump. Net profit grew modestly to Rs. 47.93 lakhs (vs Rs. 42.39 lakhs), but EPS dipped to Rs. 0.76 from Rs. 1.04 due to share count expansion after the December 2024 IPO. The Board appointed Mrs. Prachi Todi as Secretarial Auditor for FY26. It also corrected director designations on the MCA portal — M.M. Burman and Vijay Burman were reclassified from 'Independent' to 'Promoter/Executive' and 'Promoter/Managing Director' respectively, and Avinash Singh's category was changed from Promoter to Professional. IPO proceeds of Rs. 1,014.30 lakhs are 96% utilised, with Rs. 41 lakhs earmarked for plant & machinery capex still parked in a fixed deposit.
Strong revenue growth and clean IPO fund utilisation are positives, but EPS dilution and the earlier misclassification of promoter directors as 'Independent' on the MCA site raise governance concerns. Shareholders should watch for progress on the pending capex deployment.