Enclosed Audited Standalone and Consolidated Financial Results of the company for the quarter and year ended March 31, 2026 alongwith the Auditors Report for the quarter and year ended March 31, 2026.
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Inducto Steel reported a strong turnaround in FY26 with profit before tax of ₹72.20 lakhs compared to a loss of ₹468.07 lakhs in FY25. Revenue from operations grew marginally by ~4.5% to ₹16,571 lakhs from ₹15,857 lakhs. PAT turned positive at ₹53.64 lakhs versus a loss of ₹371.86 lakhs in the prior year. EPS improved from ₹-9.26 to ₹1.34 per share. The company also appointed new Cost Auditor (Kewlani & Associates) and Internal Auditor (Satish Diwate) for FY27. The auditors issued an unmodified opinion but drew attention to ₹20.94 crores (14.76% of total assets) invested in partnership firms — Rs 20.51 crores of which was used for joint venture advances that have not been recovered, creating significant recoverability risk.
The company returned to profitability after two consecutive years of losses, which is a positive signal for investors. However, the massive jump in trade payables (from ₹22.24 lakhs to ₹8,716.90 lakhs) and inventories warrants scrutiny. The auditor's emphasis of matter on partnership firm investments representing 14.76% of assets with unrecovered advances is a red flag for asset quality.