To consider and approve the Audited Financial Results for the Quarter and Financial Year ended 31.03.2026.
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Prima Industries Ltd reported audited standalone and consolidated financial results for FY 2026 ending March 31. Revenue from operations declined to Rs. 71.53 million from Rs. 75.48 million in the prior year, a fall of about 5.2%. The company posted a net profit of Rs. 42.47 million compared to a loss of Rs. 2.97 million in FY 2025. However, this profit is largely inflated by a one-time exceptional item of Rs. 41.69 million arising from an NCLT-directed transaction for redemption and re-issuance of 51,97,403 preference shares. Before exceptional items, profit before tax was only Rs. 1.00 million. The auditors issued an unmodified opinion but highlighted two emphasis of matter items: non-compliance with Section 185 of the Companies Act regarding unsecured interest-free loans of Rs. 2.90 crore to associate companies not yet recovered, and the NCLT-approved preference share re-issuance. Cash flow from operating activities remained negative at Rs. 9.26 million for the year.
The stock may see positive reaction due to net profit turnaround, but investors should note that underlying business operations are weak without the one-time exceptional item. The related party loan compliance issue and negative operating cash flow are concerning for long-term shareholders.