AHLADA ENGINEERS LIMITED

Manufactures and sells steel products, including steel doors, windows, RO water purifier systems and allied items, and reports under a single steel products segment. FY26 revenue was Rs 100.85 crore, down approximately 24% from the prior year, and profit after tax collapsed to Rs 17.83 lakhs — a drop of over 95% — with Q4 FY26 standalone showing a net loss of Rs 103.52 lakhs. The company is incorporating a Dubai subsidiary (proposed names 'Ahlada Global LLC' or 'Ahlada International LLC') for trading, distribution and marketing of its steel product range in the Middle East and GCC markets, with planned investment of up to AED 1,000,000 (approximately Rs 21-22 lakhs) and at least 76% ownership. Materials are the largest cost at 48.4% of revenue, followed by other operating expenses at 17.1%, employee cost at 10.8% and depreciation at 9.6%; capex was Rs 3.21 crore, or 3.2% of revenue. The statutory auditor issued an unmodified opinion but flagged Rs 6,301.92 lakhs of outstanding supplier and capital advances as of March 31, 2026, of which Rs 5,995.33 lakhs were given to three major parties for project execution.