Outcome of Board Meeting for Audited (Consolidated and Standalone) financial results for the Quarter and Financial Year ended 31st March 2026.
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Platinum Industries Ltd reported audited financial results for FY26 with consolidated revenue of Rs. 4,504.41 million (up 14.8% YoY) and standalone revenue of Rs. 4,343.60 million (up 33.7% YoY). Consolidated PAT grew to Rs. 512.30 million while standalone PAT reached Rs. 535.27 million. The auditors issued a qualified opinion on both standalone and consolidated results due to a fire incident at subsidiary Platinum Polymers and Additives (partnership firm) on July 7, 2025 at Palghar. The subsidiary recognized a loss of Rs. 103.35 million and insurance claim receivable of Rs. 98.19 million, with Rs. 5.17 million net loss shown as exceptional item. Insurance survey remains in progress and auditors cannot determine if adjustments are required to the claim. The board also approved new auditors M/s Pipalia Singhal & Associates for FY27, reconstitution of senior management, and equity issuance by subsidiary Rivadu Lifesciences Private Limited while maintaining 51% stake.
The qualified auditor opinion and pending insurance claim create uncertainty around subsidiary asset values. However, strong revenue growth and profit expansion indicate solid operational performance despite the fire-related disruption at one facility.