Q1 FY27 results show sharp profit decline, auditor flags Almet divestment dispute
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Board approved Q1 FY27 unaudited results (quarter ended June 30, 2026). Standalone revenue fell to Rs 151.88 cr from Rs 220.91 cr YoY, a drop of about 31 percent. Standalone profit after tax dropped sharply to Rs 1.93 cr from Rs 21.93 cr YoY. Finance cost rose to Rs 6.05 cr. Auditors issued unmodified review reports but flagged an emphasis of matter on the Almet Corporation divestment, where the share transfer is kept in abeyance due to a dispute among transferees. Company also allotted 2 crore convertible warrants at Rs 40 each to two promoters, receiving 25 percent of the money.
Weak Q1 with sharp profit decline; Almet divestment dispute remains unresolved. Warrants issue brings in partial promoter funds.