Outcome of Board Meeting for approval of Standalone Audited Financial Results of the Company for the Half Year and Year ended on 31st March, 2026
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Srigee DLM Limited reported audited financial results for FY2026. Revenue from operations declined marginally from ₹723.05 Lakhs to ₹712.34 Lakhs (down ~1.5%). However, profit after tax grew significantly from ₹50.07 Lakhs to ₹68.67 Lakhs (37% growth), supported by higher other income of ₹34.51 Lakhs. EBITDA margin expanded from 10.5% to 12.2%. The company completed an IPO in May 2025 raising ₹1,697.65 Lakhs, but as of March 2026, only ₹665.52 Lakhs (39%) has been utilized with ₹1,032.13 Lakhs still unutilized in fixed deposits. The auditor issued an unmodified (clean) opinion but included an Emphasis of Matter noting that IPO funds originally meant for a manufacturing plant at Plot 15, Ecotech X have been redirected to an alternate site (R 11A, DMIC IITGN). Additionally, machinery acquisition funds were used for the existing plant rather than the new project as stated in the prospectus.
Revenue decline is modest, and strong PAT growth with margin expansion is positive. However, significant unutilized IPO proceeds and the reallocation of funds from stated project purposes may raise concerns among investors about capital deployment efficiency.