Standalone Audited Financial Results of the company for the Half year and Year ended on 31st March 2026
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Srigee DLM Ltd reported strong financial performance for FY 2025-26 with revenue from operations more than doubling to Rs. 712.34 Lakhs from Rs. 352.14 Lakhs in the previous year. Profit after tax grew 37% to Rs. 686.72 Lakhs from Rs. 500.66 Lakhs. The company completed an IPO in May 2025 raising Rs. 1,697.65 Lakhs, though auditors noted that only Rs. 665.52 Lakhs (39%) has been utilized as of March 2026, with Rs. 1,032.13 Lakhs still parked in bank accounts. The auditor's report includes an Emphasis of Matter noting that trade receivables, payables, and loans are subject to confirmation, and that IPO funds originally earmarked for a new manufacturing plant were reallocated to an alternate site. Additionally, Rs. 118 Lakhs of IPO proceeds meant for machinery at the new plant was used to purchase machinery for the existing facility instead.
Strong revenue and profit growth is positive for shareholders, but the significant underutilization of IPO proceeds and diversion of funds away from the stated purpose raises governance concerns that investors should monitor closely.