The Board of Directors of the Company in its meeting held today have considered and approved the Audited Financials Results for the quarter and Year ended 31st March, 2026.
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Modern Insulators Ltd reported standalone revenue of Rs. 74,130.78 Lacs for FY2026, up 43.7% from Rs. 51,557.29 Lacs in the previous year. Profit after tax stood at Rs. 8,292.64 Lacs, nearly doubling from Rs. 3,914.09 Lacs, with EPS at Rs. 17.59 versus Rs. 8.32. The auditors issued a qualified opinion due to non-provision of income tax including interest amounting to Rs. 936.19 Lacs for the year (cumulative Rs. 12,780.38 Lacs) in connection with the pending Scheme of Arrangement with Modern Denim Limited awaiting NCLT approval after obtaining stock exchange NOC. The company also gave interest-free unsecured loans of Rs. 7,119 Lacs to a company under Section 189 for the proposed amalgamation and Rs. 1,923 Lacs to its wholly owned subsidiary. No dividend was recommended for FY2025-26. The company switched to the concessional tax regime under Section 115BAA.
Strong revenue and profit growth reflects robust operational performance, though the auditors' qualified opinion on non-provision of Rs. 12,780.38 Lacs in cumulative tax liabilities creates uncertainty regarding potential future tax outflows if the amalgamation scheme does not get approved as expected. Investors should monitor the NCLT approval process for the Modern Denim merger.