Audited Financial Results of the Company for quarter and financial year ended March 31, 2026
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National Standard (India) Ltd reported audited results for Q4 and FY26 with an unmodified (clean) opinion from statutory auditor MSKA & Associates. For FY26, total income stood at ₹3,995.77 lakhs (vs ₹4,046.37 lakhs in FY25), with revenue from operations declining to ₹2,041.81 lakhs from ₹2,232.97 lakhs. Total expenses rose sharply by about 20% to ₹2,667.84 lakhs, driven mainly by higher 'Other Expenses' (₹634.91 lakhs vs ₹215.68 lakhs). Profit after tax for the year fell to ₹965.89 lakhs from ₹1,319.92 lakhs, a drop of roughly 27%, translating to EPS of ₹4.83 (vs ₹6.60). Net cash from operating activities remained negative at ₹(602.43) lakhs, though this was an improvement from ₹(825.95) lakhs in FY25. The company is in the process of merging with its holding company Lodha Developers Limited, with the scheme approved by BSE on December 30, 2025, and the merger application now being filed with NCLT Mumbai.
Mixed-to-negative for standalone shareholders: operating revenue and profits declined while expenses surged, but the stock is largely viewed in the context of the ongoing merger with Lodha Developers, which is the key catalyst. The clean audit opinion and absence of debt provide some comfort, but weak operating cash flow remains a concern.