Earnings Call Live Updates

Domestic MDF volume degrowth of 8.5% YoY, attributed to BIS QCO implementation and commercial-grade MDF discontinuation.

Like-for-like domestic MDF sales grew by 47% YoY, excluding discontinued commercial-grade sales.

Export volumes decreased by 40% YoY due to strategic focus on margins and geopolitical disruptions.

MDF revenue degrew by 12% YoY, plywood revenues down by 3% YoY.

Stabilization of new thin panel plant in Andhra Pradesh impacting margins; normalization expected in Q2 FY'26.

Consolidated operating EBITDA (excluding currency movement) at ₹13 crore, representing 4% of revenues.

Timber prices are correcting, leading to improved gross margins, up 2.5% sequentially.

Tailwinds for the sector include expected reduction in timber prices, limited capacity additions, slowing MDF imports, and BIS implementation.

The company reiterates volume and margin guidance for the fiscal year.

Revenue from operations reported at ₹16,318.40 Lakhs for Q1 FY26.

91,500 stock options (ESOP's) granted to eligible employees of the Company.

Chandran Krishnamoorthy re-appointed as Whole-time Director for a 5-year term.

Initiation of closure of 3 foreign subsidiaries in Netherlands, China and UAE.

Earnings per share (basic) for the quarter is ₹4.12

1,06,500 equity shares of ₹10 each fully paid up, were allotted upon exercise of vested options pursuant to the 'Wanbury ESOP-2016', resulting in an increase in the paid-up share capital by ₹10.65 Lakhs and Securities Premium account by ₹144.31 Lakhs

Revenue from Operations decreased compared to the previous year and previous quarter.

The company reported a loss before tax of ₹36.51 lakhs compared to profit of ₹226.65 Lakhs in the corresponding quarter of previous year.

Significant increase in 'Purchase of Stock-in-trade' leading to a loss for the current quarter

Change in inventories of finished goods impacted profitability.

Total expenses increased compared to the previous year.

Consolidated revenue increased by 36.8% YoY to ₹513.95 crore

Net profit increased by 33.8% YoY to ₹94.24 crore

Basic EPS stood at ₹8.55

IPO proceeds utilization reached ₹308.48 crore, ₹533.04 crore still unutilized

Acquired 38.5% equity in Walso Solar Solution Private Limited

Cost of Materials Consumed increased significantly from ₹149.63 crore to ₹272.97 crore YoY

Finance Costs increased significantly from ₹7.089 crore to ₹12.968 crore YoY

Equity Shares were listed on National Stock Exchange of India Limited (NSE) and BSE Limited (BSE) on June 20, 2025

Revenue increased to ₹11,843.53 Lakhs in Q1 FY26 vs ₹9,918.24 Lakhs in Q1 FY25

Net profit after tax increased to ₹973.83 Lakhs vs ₹855.17 Lakhs

EPS (basic & diluted) is ₹15.61

Geographical revenue split: Outside India ₹6,475.02 Lakhs and Within India ₹5,368.51 Lakhs.

Appointment of M/s Agarwal Maheswari & Co. as Statutory Auditors

Appointment of Ms. Ankita Dalmia as Secretarial Auditor

Q1 FY26 unaudited financial results approved by the Board.

Promoter reclassification requests approved, pending stock exchange approval.

Appointment of Ms. Falak Mody as Company Secretary & Compliance Officer.

Appointment of M/s. Nidhi Bajaj & Associates as Secretarial Auditor for FY26-FY30, subject to shareholder approval.

Total of 46,80,506 shares representing 3.93% of paid up equity are subject to promoters seeking re-classification

Consolidated revenue increased to ₹680 crore, showing growth both YoY and QoQ.

Institutional and Investment Banking revenue nearly doubled QoQ, driving overall revenue growth.

Retail brokerage declined YoY due to regulatory changes impacting expiry dates.

Distribution income grew significantly YoY, indicating increased focus on asset gathering.

Other income increased dramatically due to mark-to-market gains on investments.

Employee costs increased due to hiring of Relationship Managers (RMs) for the wealth management business.

Company is transforming retail broking segment into wealth management practice.

PAT increased QoQ but decreased slightly YoY.

Broad cost-to-income ratio for retail or non-institutional side will be in the range of 75%, expected to be elevated for FY26

Standalone revenue from operations at ₹130.90 crore

Net profit for the quarter at ₹25.84 crore.

Significant GST-related uncertainties with show cause notices exceeding ₹23,207.30 Crores.

Board recommended a final dividend of ₹1.25 per share.

Amendment to the Delta Employees Stock Appreciation Rights Plan 2019 (ESARP-2019)

The company's liability in respect of Deltatech Gaming Limited has been capped up to ₹34.80 Crores.

Revenue from Operations increased by 15.3% YoY

Net Profit After Tax increased by 17.4% YoY

EPS (Basic and Diluted) increased to ₹0.42 from ₹0.36 YoY

Board approved incorporation of Wholly-Owned Subsidiary in the USA

Appointment of new Company Secretary and Compliance Officer

Recommended appointment of Secretarial Auditor for a five-year term

Revenue grew 17.5% YoY in constant currency, exceeding industry averages.

EBITDA margin maintained at a robust 21.4%, within the guided range.

GenAI business achieved breakeven, showcasing growth potential.

Active customers increased to 285, and million-dollar clients reached 59, indicating strong customer relationships.

Strong growth momentum in key verticals such as BFSI and Healthcare.

The company focuses on automation, with revenue from automation increasing from 25.3% to 28.2%.

Attrition rate increased to 18.2%, requiring attention to manage employee retention.

DSO increased to 91 days, needing efforts to bring it closer to the long-term average.

Transformation initiatives are driving growth, with focus on expanding global capabilities and product-led SaaS strategy.

Q2 2025 revenue increased by 28% YoY to ₹2,209 million driven by exports and successful product launches.

Profit after tax (PAT) for Q2 2025 reached ₹607 million, showing a 21% increase compared to Q1 2025.

Exceptional gain of ₹66 million recorded due to reversal of excess demerger-related provisions.

Successful relaunch of Depura Adult and Combiflam Suspension during the quarter after voluntary recall.

Commencement of export operations to expand into international markets.

Sale of a 50% controlling stake in Opal JVco S.a.r.l (Opella group) completed by Sanofi, retaining a 48.2% shareholding.

Revenue from operations include sale of products of ₹2,023 million compared to ₹1,586 million in the previous quarter.

Q2 2025 revenue increased by 28% YoY to ₹2,209 million.

Profit after tax (PAT) for Q2 2025 reached ₹607 million, a 21% QoQ increase.

Successful relaunch of Depura Adult and Combiflam Suspension contributed to growth.

Introduction of Allegra D in the Allergy segment.

Commencement of export operations expands market reach.

H1 2025 revenue stood at ₹3,935 million

H1 2025 PAT stood at ₹1,107 million

Total Income decreased YoY from ₹5,730.12 lakhs to ₹5,537.40 lakhs.

Profit before tax decreased YoY from ₹272.29 lakhs to ₹229.52 lakhs.

Net profit for the period decreased YoY from ₹198.47 lakhs to ₹170.70 lakhs.

Earnings per share (basic and diluted) stood at ₹5.62.

The company's new industrial and readymade garment manufacturing facility will become operational this fiscal year.

Expansion of hand glove manufacturing facility at Falta Industrial Park, West Bengal.

Hand Gloves segment revenue increased YoY but Garment segment revenue decreased.

Total Expenses increased YoY by about ₹151 lakhs

Revenue increased by 10.9% YoY driven by higher demand in off-highway and passenger car segments.

Profit Before Tax (excluding exceptional items) increased by 37.2% YoY, primarily due to a favorable product mix.

Exceptional item of ₹556 crore from the sale of the 'Video solutions, Access and Intrusions and Communication systems' business.

Automotive segment product sales increased by 14.3% YoY.

Mobility Aftermarket business grew by 5.2% YoY due to increased market demand.

Beyond Mobility business declined by 9.3% YoY due to the sale of the Video Solutions business.

Company investing decisively in hydrogen, electrification, and digital services.

Total Income from Operations is Nil for the current quarter.

The company is reporting net losses in the current quarter, previous quarter, and corresponding previous year quarter.

Total Expenses are significantly lower in the current quarter compared to previous periods (₹0.03 Lacs vs. ₹1.38 Lacs QoQ and ₹0.10 Lacs YoY)

There is no Finance cost mentioned in the report.

Basic and Diluted EPS are recorded at ₹0.00

Approval of unaudited financial results for Q1 FY26

Expansion of industrial and readymade garment manufacturing facility.

Expansion of hand gloves manufacturing facility.

Revenue from operations increased by 10.9% YoY, driven by higher demand in off-highway and passenger car segments.

Profit Before Tax (excluding exceptional items) increased by 37.2% YoY.

Overall product sales of the automotive segment increased by 14.3% compared to the same quarter of the previous year.

The Mobility Aftermarket business grew by 5.2% due to increased market demand for gasoline systems, comfort electronic and wiper systems.

Bosch Limited is investing in hydrogen, electrification, and digital services to position itself at the forefront of sustainable mobility.

Net loss increased from ₹7.68 lakhs in Q1 2024 to ₹14.95 lakhs in Q1 2025

Revenue from operations increased from ₹14.51 lakhs in Q1 2024 to ₹22.92 lakhs in Q1 2025.

Total expenses increased significantly from ₹22.21 lakhs (June 2024) to ₹38.25 lakhs (June 2025).

The company is engaged in Trading in Gems and Precious Metals.

There are no additional disclosures to report.

Revenue from operations increased to ₹8099.62 lakhs.

Profit for the period reported as ₹1220.47 lakhs.

Basic and diluted EPS reported as ₹4.55.

Reappointment of M/s. KSA & Co as statutory auditor for 5 years

Reappointment of Mr. Rajkumar Mangilal Borana as executive director.

Revenue from Operations: ₹54.23 Lakhs

Total Income: ₹101.99 Lakhs

Net Profit: ₹15.07 Lakhs

Basic EPS (not annualized): ₹0.02

Shift in revenue recognition for Algo Trading Gains and API Sales to 'Other Income'

No investor complaints pending or received during the quarter.

Standalone Revenue from operations grew by 36.68% YoY.

Net Profit increased significantly from ₹171.30 Million to ₹299.94 Million YoY.

EPS (basic and diluted) increased to ₹4.64.

Total expenses increased from ₹746.55 Million to ₹1012.31 Million YoY.

₹2,028.29 Million of QIP proceeds utilized out of ₹7,000.00 Million raised.

Operations predominantly relate to manufacture and sale of high precession and OEM components.

Total Income increased from ₹6048.18 Lakhs (June 30, 2024) to ₹7285.37 Lakhs (June 30, 2025).

Profit before tax decreased from ₹715.95 Lakhs (June 30, 2024) to ₹610.65 Lakhs (June 30, 2025).

Net profit for the period decreased from ₹523.30 Lakhs (June 30, 2024) to ₹460.47 Lakhs (June 30, 2025).

Basic and Diluted EPS are both ₹0.46, compared to ₹0.52 from June 30, 2024.

The company confirms that the Statutory Auditors have not expressed any modified opinion on the Unaudited Financial Results.

Revenue grew by 19.5% YoY to ₹6,207 million, surpassing the previous quarter by 3.1%.

EBITDA increased by 33.7% YoY to ₹1,397 million, with margin expansion of 239 bps to 22.5%.

PAT grew by 21.8% YoY to ₹1,055 million.

India & Emerging Markets contributed 72.3% to revenue, growing by 18.1% YoY.

Developed Markets grew by 23.3% YoY and accounted for 27.7% of revenue.

CPCU business drove 107 million conversions.

Company enhancing platform capabilities via Opticks AI integration.

Received a new patent grant in India, marking their 14th Patent.

Consolidated revenue grew by 16.7% YoY to ₹352 crore in Q1 FY26.

EBITDA increased by 19.4% YoY to ₹89 crore, indicating improved profitability.

PAT saw a significant rise of 18.9% YoY, reaching ₹61 crore.

Export revenue constitutes a substantial 56% of total revenue, highlighting strong global demand.

Order inflows totaled ₹415 crore, boosting the order book to ₹1457 crore, signaling future growth potential.

Industrial Gases segment contributes significantly, driven by high-purity demand and tariff mitigation.

Company launched India's first UHP ammonia ISO tank container, showing innovation.

Company secured new order for Cryostat Thermal Shield (CTS) refurbishment worth ₹145Cr

Significant increase in total expenses leading to net loss

Segment revenue from Capsules increased YoY but API segment decreased

Natural Biogenex Private Limited started commercial operations, impacting near-term profitability due to unachieved revenue potential

Consolidated segment-wise results show higher losses in API segment compared to Capsules

Total Comprehensive Income (OCI) significantly decreased to ₹-558.05 lakhs

Talc and prickly heat powder category significantly impacted, declined by 17% due to soft summer demand.

Core domestic business excluding talc delivered a healthy 6% revenue growth

Navratna Oil delivered a 6% growth despite the subdued summer season.

Gross margins expanded by 170 basis points to 69.4%.

Quick commerce remains a strategic growth channel, scaling up rapidly at nearly 3x Y-o-Y

Digital-first brands are gaining traction, growth on marketplace and Qcom platforms.

Standalone revenue from operations at ₹134.51 crore.

Standalone net profit at ₹29.99 crore.

Consolidated revenue from operations at ₹137.09 crore.

Consolidated net profit at ₹29.43 crore.

Utilized ₹20.28 crore from QIP funds until June 30, 2025, primarily for capital expenditure.

The two entities i.e Azad VTC Private Limited and Azad Prime Private Limited becomes subsidiaries in Q1 of FY 2024-25

Revenue increased by 28.75% YoY, driven by sugar, ethanol, and country liquor sales.

Company reported a loss of ₹19.37 crore vs profit of ₹1.11 crore YoY.

Sugar segment experienced a 22% YoY revenue increase, reaching ₹523.49 crore.

Ethanol sales increased by 89% YoY to 19.33 million bulk liters.

Country liquor segment revenue increased by 51% YoY, reaching ₹286.34 crore.

Gross sugar recovery declined due to pest infestations, impacting profitability.

Expects improved performance in Q3-Q4 with pest management and ethanol initiatives.

Converted Asmoli distillery to dual-feed for molasses and grain processing.

Standalone revenue from operations was ₹22.92 lakhs for Q1 2025.

The company reported a net loss after tax of ₹14.95 lakhs for the quarter.

Auditors issued an unmodified opinion on the unaudited financial results.

The company's business segment is trading in Gems and Precious Metals.

No deviation or variation for proceeds of public/rights issue.

There are no outstanding defaults on loans and debt securities.

Total Income increased to ₹72.85 Lakhs compared to ₹60.48 Lakhs in Q1 2024.

Net profit decreased to ₹4.60 Lakhs compared to ₹5.23 Lakhs in Q1 2024.

Basic and diluted EPS at ₹0.46 for the quarter.

Appointment of Smt. Visalakshi Kannan as De-Facto Director.

Appointment of Mr. S. Ramalingam as Secretarial Auditor, subject to member approval.

New Set of Articles of Association proposed, subject to member approval.

The company does not have any subsidiary.

Auditors issued an unmodified opinion on the unaudited results.

Net profit increased by 32% YoY to ₹2,252 crore.

Operating profit improved by 9% YoY to ₹4,009 crore.

Gross NPA ratio improved by 170 bps YoY to 2.92%.

Net NPA ratio improved by 24 bps to 0.75%.

Global business grew by 10.37% to ₹15,06,000 crore.

RAM advances increased by 16.69% YoY to ₹3,28,000 crore.

CASA ratio at 39.88%, aiming for 40% by FY26.

Expects net interest margin to stabilize and improve from Q3 FY26 onwards.

Budget of nearly ₹2,000 crore allocated for IT, digital and cyber security this year.

Targets gross cash recovery of around ₹9,500 crore this year, similar to last year.

Revenue increased by 1.8% YoY to ₹2087.42 crore.

EBIDTA decreased by 6.7% YoY to ₹311.97 crore.

PBT declined by 4.1% YoY to ₹310.08 crore.

Decorative segment showed signs of revival, impacted by early monsoon.

Automotive demand continued to be better than the market.

Raw material prices were benign; Forex remained volatile.

The domestic paint industry size is estimated at approximately ₹77500 crores as of March 2025.

Expect improvement in decorative demand driven by favorable monsoon and early Diwali.

Transcript of conference call on unaudited financial results for Q2 2025 is available.

Results are for both Standalone and Consolidated financials.

Transcript available on the company's investor relations website.

Total income decreased significantly YoY, from ₹50.11 Lakhs to ₹1.02 Lakhs.

The company incurred a loss before tax of ₹34.06 Lakhs compared to a profit of ₹45.61 Lakhs in the corresponding quarter of the previous year.

Auditor expresses adverse opinion due to significant concerns regarding related party transactions and the company's financial viability.

Around 95% of company's assets are tied to related parties under ED investigation.

Defaults on bank borrowings and negative net worth raise concerns about the company's ability to continue as a going concern.

Cash flow from operating activities is negative at ₹(38.01) Lakhs.

64.8% of liabilities are unsecured loans from related parties, leading to completeness concerns.

Consolidated revenue increased by 48% YoY to ₹614 crore.

EBITDA increased eleven-fold to ₹67 crore YoY.

Profit after tax stood at ₹12.7 crore against a loss of ₹16.8 crore in the corresponding quarter of the previous year.

Crop Protection segment revenue increased by 68% YoY to ₹458 crore with an EBITDA margin of 17.3%.

Repaid ₹38 crore of debt during the quarter and aims to continue debt reduction.

Adding 2-3 new products this fiscal year to strengthen market position.

Anticipates price improvements in titanium dioxide from Q3 FY26 due to anti-dumping duties on Chinese imports.

Company is optimistic in seeing tremendous growth in the crop nutrition segment

Expects double-digit growth in the crop protection segment over the next 2-3 years.

The utilization in MPP plant is improving. Will give major growth in the crop protection segment.

Q1 FY26 Revenue growth of 7% YoY, driven by overall operational performance.

Introduction of new product, Dinkar, shows promise in paddy crops, particularly in South India.

Company is on track to introduce the second product from the Dahej plant in H2 FY26.

EBITDA stood at ₹83.19 crore in Q1 of FY '25-'26 versus INR71.72 crores in Q1 of FY '24-'25.

Herbicides continue to form a large portion of the company's product mix (50%).

Channel inventories remain elevated in certain regions, especially for herbicides.

The company expects a 100 basis point decline in EBITDA margin in FY26.

Dahej plant expects a revenue of INR65 crores in FY26.

The company is targeting double-digit revenue growth for FY26, which might be smaller.

Revenue growth of 16.7% YoY demonstrates strong market demand.

EBITDA increased by 19.4% YoY indicating improved profitability.

PAT growth of 18.9% YoY showcases efficient operations.

Exports contributing 56% to revenue highlights global competitiveness.

Strong order book of ₹1457 crore provides future revenue visibility.

Launch of UHP ammonia ISO tank container reflects innovation.

Securing ITER project order strengthens position in cryo-scientific segment.

Consolidated revenue decreased by 20% YoY from ₹4,633 million to ₹3,713 million.

Net profit declined from ₹804 million to ₹644 million YoY.

Basic and diluted EPS both decreased to ₹2.03 from ₹2.52 YoY.

Standalone revenue was ₹3,446 million, and standalone net profit was ₹670 million.

Total expenses decreased YoY from ₹3,749 million to ₹3,062 million.

Revenue from operations stood at ₹8099.62 lakhs for Q1 FY26.

Profit for the period from continuing operations was ₹1220.47 lakhs.

Reappointment of M/s. KSA & Co. as statutory auditors for a term of five years.

Reappointment of Mr. Rajkumar Mangilal Borana as an executive director.

Appointment of Mr. Jitendrakumar Rewashankar Rawal as secretarial auditor.

The Annual General Meeting is scheduled for September 10, 2025.

New orders increased significantly by 94% YoY, indicating strong market demand.

Revenue grew by 20% YoY, driven by a healthy order backlog.

Operating margin stood at 17.6%, reflecting efficient operations.

Profit after tax increased by 80% YoY.

Company announced ₹280 crore investment for capacity expansion.

Basic and diluted EPS for the nine months ended June 30, 2025, is ₹20.80.

Total income for the quarter is ₹18,371 million, up from ₹14,842 million in the same quarter last year.

The Company allotted equity shares to Siemens Limited shareholders on April 14, 2025, per the Scheme of Arrangement.

Revenue from operations increased to ₹7198.71 Lakhs from ₹5914.30 Lakhs YoY.

Net profit decreased to ₹460.47 Lakhs from ₹523.30 Lakhs YoY.

Basic and diluted EPS both at ₹0.46.

Unaudited results are Ind-AS compliant.

Auditors have issued an unmodified opinion.

Revenue growth of 3% YoY despite challenging market conditions.

EBITDA growth of 39% YoY, driven by improved pricing and product mix.

EBITDA margin expanded by 170 bps YoY to 6.8%.

EBIT more than doubled YoY, showing significant operational improvement.

Strong growth witnessed in mixer grinders and pressure cookers.

Refreshed brand positioning and new product series aim to enhance consumer engagement.

Material Margin increased by 320bps YoY.

PAT Margin increased by 200 bps YoY

Revenue decreased from ₹287.31 lakhs to ₹160.35 lakhs YoY.

The company went from a profit of ₹7.35 lakhs to a loss of ₹62.87 lakhs YoY.

Operating costs decreased from ₹176.03 lakhs to ₹156.37 lakhs YoY.

Finance costs increased from ₹0 to ₹2.8 lakhs YoY.

Other Expenses decreased significantly from ₹69.98 lakhs to ₹46.35 lakhs YoY.

The company has a negative earnings per share (EPS) of -₹0.06.

Statement reviewed by auditors with limited assurance.

Overall AuM across businesses in mutual funds grew 22% YoY.

Equity assets grew 24% YoY, exceeding market growth.

New SIP registrations increased 19% YoY, with market share up 6 percentage points.

Unique investor base crossed 41 million, up 27% YoY, faster than industry growth.

Alternatives solidified market leadership, getting 24 new logos and 50 new mandates.

CAMSPay grew 26% YoY, payment gateway infrastructure for cards is operational.

Insurance policy count grew 41% YoY, driven by consumer adoption of demat insurance policies.

Net sales/income from operations at ₹68.43 lakhs.

Loss from operations before exceptional items: ₹35.38 lakhs.

Net Loss after tax reported at ₹35.38 lakhs

Basic and Diluted EPS both negative at -₹0.31

India revenue grew 12.6% YoY driven by strong dine-in traffic and effective value and premium strategies.

India Restaurant EBITDA increased 23% YoY to INR 53.6 crore, indicating improved operational efficiency.

Digital transformation initiatives, with 93% of restaurants having SOKs, contributing to 90% of sales from digital platforms.

Delivery margins in India increased by 1 percentage point, highlighting profitable growth in the delivery segment.

Corporate overheads in Indonesia reduced by 25% (INR 15 crore), with plans for a further 10% reduction (INR 4.5 crore).

Burger King Indonesia's ADS improved with diner visits since November 2024

Burger King Indonesia store count is now at 159

Popeyes Indonesia faces challenges but with pilot store tests are starting to show improvement in diner visits

The focus on the value side of the menu due to consumer demand due to industry APD decline

Q1 2025 unaudited financial results (standalone and consolidated) approved.

Restated financial statements approved, effective April 1, 2023, due to amalgamation.

Salil Taneja re-designated as Chairman and Managing Director.

Salil Taneja appointed as Key Managerial Personnel.

V. P. Thacker and Co. re-appointed as Statutory Auditors for five years, pending shareholder approval.

The Board Meeting commenced at 11:45 a.m. and concluded at 05:35 p.m. on August 04, 2025.

Bonus issue approved in the ratio of 2:1.

Authorized share capital increased from ₹25 crore to ₹50 crore.

AGM date fixed for September 4, 2025, via video conferencing.

Record date for final dividend (FY25) is August 22, 2025.

General Reserves and/or Retained Earnings of Rs 2,079.76 Lakhs will be used for implementing the Bonus Issue.

Operational revenue increased by 17% YoY to ₹2,659 crore.

Net profit grew by 22% YoY to ₹244 crore.

Net debt reduced by ₹225 crore.

Fertilizer segment saw a significant growth of 125% YoY.

Specialty product portfolio in crop nutrition contributed 45% of revenue.

CAPEX investment of ₹377 crores during the quarter.

Gopalpur TAN project is at 80% completion and Dahej Nitric Acid project at 57% completion.

AUM growth remained strong at 28.6% YoY, reaching ₹13,479 crore.

Disbursements stood at ₹1,243 crore, the second highest in the company's history.

Origination market share increased to 2.3% in FY25 from 1.5% in FY22.

Total income increased by 33.4% YoY to ₹455 crore.

Profit After Tax increased by 35.5% YoY to ₹119 crore.

Net Interest Margin (NIM) for Q1 was 5.2%, up from 5.1% in the previous quarter.

Capital Adequacy Ratio stood at 49.6% with Tier I at 49.2%.

Successfully raised ₹1,250 crore through QIP and received credit rating upgrade to AA (Stable).

Revenue from operations decreased YoY from ₹3,954 million to ₹3,446 million.

Profit after tax decreased YoY from ₹694 million to ₹670 million.

The company operates in a single reportable segment of Power Generating Equipment and Solutions.

Cost of materials consumed was ₹1,638 million.

Total expenses were ₹2,745 million.

Other income stood at ₹189 million.

Total comprehensive income for the period/year was ₹524 million.

Basic and diluted EPS for the quarter stood at ₹2.11

Finance costs marginally decreased YoY to ₹7 million

Significant decrease in total income from ₹50.11 Lakhs to ₹1.02 Lakhs YoY.

Loss before tax of ₹-34.06 Lakhs compared to a profit of ₹45.61 Lakhs YoY.

Auditor's adverse opinion due to concerns regarding related party transactions and bank borrowings.

Around 95% of assets are advances/deposits to related parties under investigation by the Enforcement Directorate (ED).

Defaulted on repayment of a loan from Jalgaon Peoples Co-Op. Bank Ltd. with an outstanding balance of ₹687.03 Lakhs as of February 2020.

Net worth is negative, and the company is not in operation for more than 4 years.

Negative EPS of ₹-0.68, compared to positive EPS of ₹0.91 in the corresponding quarter of previous year.

Net loss of ₹2.49 Lakhs due to negative revenue from continuing operations of ₹(14.15) Lakhs.

Discontinued operations, primarily the Wind Power division, contributed positively with a profit before tax of ₹14.68 Lakhs.

Revenue from operations saw a slight increase from ₹416.01 Lakhs in Q4 2025 to ₹422.86 Lakhs in Q1 2025.

Exceptional items include expenses related to the sale of the caustic soda manufacturing plant.

The company completed the slump sale of its Windmill Division on July 2, 2025, contributing to discontinued operations.

Closure of the Electric Division due to insignificant revenue and net assets impact results.

Standalone revenue from operations reported at ₹460.72 lakhs

Business operations ceased post slump sale to MGM Healthcare

Evaluating corporate restructuring options for the company's future

Cash and cash equivalents at ₹3,232.39 lakhs deemed sufficient for ongoing obligations

GST demands being contested, with potential financial exposure deemed remote

Subsidiary Malar Stars Medicare converted to Section 8 company.

Reversed minimum wage payable provision of Rs 408.20 Lakhs as other income

Consolidated revenue decreased by 20% YoY, reflecting a challenging market environment

Net profit after tax declined by 20% YoY, impacting EPS

Standalone revenue was ₹3,446 million and Net Profit was ₹670 million

Exceptional Gain recognised in the prior period on reduction of capital in wholly owned subsidiary.

Board of Directors approved the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter ended June 30, 2025

Revenue from Operations (Net) reached ₹2339.93 Lakhs.

Profit before tax reported at ₹180.52 Lakhs.

Basic EPS at ₹0.50.

Cost of materials consumed amounted to ₹2092.80 Lakhs.

Employee benefits expense totaled ₹93.86 Lakhs.

Revenue from operations at ₹196.69 million

Net profit for the period was ₹26.05 million

Approved raising funds up to ₹3,000 Crore via equity issuance.

Increased Authorized Share Capital from ₹25 crore to ₹50 crore.

Unaudited financial results have a qualified conclusion due to concerns about the recoverability of investment and trade receivables from Kitex USA LLC

Business operations sale via slump sale transaction completed.

Company is evaluating corporate restructuring options.

Company believes to meet financial obligations based on its cash and equivalents.

Standalone revenue from operations of ₹460.72 lakhs.

Loss after tax of ₹5.81 lakhs

Subsidiary, Malar Stars Medicare converted to Section 8 Company

Standalone EPS for the period is ₹(0.03)

Revenue from operations increased by 45.57% YoY

EBITDA margin at 11.61%

PAT margin at 5.68%

EPS at ₹4.09

OEM vehicle sales in Q1 were muted

Shortage of rare earth magnets impacted two-wheeler sales, expected to continue in Q2

Pricol Precision Products Private Limited clocked a turnover of close to ₹205 crore with an EBITDA close to 7%

Employee cost percentage at around 12%

Company expects to spend approximately ₹500 crore in CAPEX over the next three years.

Approximately 65% of revenue comes from the two-wheeler segment

Consolidated revenue for the quarter ended June 30, 2025 stood at ₹500.72 million.

Profit for the period was ₹16.35 million.

Building Products segment generated revenue of ₹370.79 million.

Steel Buildings segment contributed ₹129.92 million in revenue.

Basic EPS for the period stood at ₹1.03.

Total income decreased by 32.4% YoY, primarily due to uneven nature of the business.

EBITDA margin impacted due to deleverage.

Gross margin was 55.3% compared to 56.1% in the same quarter last year.

Working capital deteriorated to 145 days of sales due to higher inventory.

Commercial production from the additional production block expected to commence later in the fiscal year.

Company remains optimistic about future growth despite a weak start to FY26.

Focus on high margin specialty business along with increased volumes for the Prime API business expected to drive growth.

Peptide investment plan is on track with new facility completion expected in the next financial year.

Strong growth expected in CMS business.

Expect to see strong growth in FY26

Expect margins to recover in FY26.

Consolidated Revenue from Operations increased significantly QoQ to ₹1294.32 lakh.

Net Profit decreased QoQ from ₹96.58 lakh to ₹48.87 lakh.

Basic EPS decreased QoQ from ₹1.16 to ₹0.59.

Sugar & Jaggery being a seasonal industry, the performance of the quarter may not be representative of the annual performance of the Company.

Total expenses increased QoQ and YoY to ₹1233.97 Lakh

Revenue from Operations at ₹241.37 lakhs

Total Income (Net) at ₹241.41 lakhs

Net Profit/(Loss) for the period at ₹12.24 lakhs

Auditor's concern regarding verification of trade receivables/payables.

Auditor's inability to verify the correctness and existence of the closing stock and investments.

Revenue from Operations decreased from ₹6.48 crore in Q4 FY25 to ₹2.41 crore in Q1 FY26

The company returned to profitability with a net profit of ₹12.24 lakh compared to a net loss in the previous quarter.

Other Expenses saw a reduction from ₹3.26 crore in Q4 FY25 to ₹52.10 lakh in Q1 FY26

Emphasis of Matter paragraph indicates that the audit firm has been unable to verify the existence of closing stock and investments.

Loss from operations before exceptional items and tax is ₹1.21 lakhs for the quarter ended June 30, 2025.

Auditor has expressed material uncertainty about the company's ability to continue as a going concern due to accumulated losses and insufficient cash flow.

The company has significant contingent liabilities towards debts amounting to ₹17,946.97 lakhs.

No business activity was reported during the quarter.

Earning per share (Basic and Diluted) is negative ₹0.12

The company is planning to take various measures in terms of arranging resources to gain more time for the business to recover.

Revenue from operations decreased to zero compared to ₹1,271.19 Lacs in previous quarter.

Net loss increased to ₹(155.60) Lacs compared to a loss of ₹(4.47) Lacs in the same quarter last year.

The company has approved the issue of 1,54,35,000 equity shares at an issue price of ₹20/- per share.

1,41,85,000 equity shares have already been allotted at ₹20/- each, aggregating to ₹28,37,00,000/- on preferential basis.

Reduction in working capital expenditure by ₹2,50,00,000 as issue size was less than expected.

Q1 FY26 revenue increased by 3% YoY to ₹187 crore.

EBITDA grew significantly by 39% YoY to ₹13 crore, driven by pricing and product mix.

EBITDA margin expanded by 170 bps YoY to 6.8%.

PAT increased by 155% YoY to ₹6 crore.

Material margin improved by 320 bps YoY to 41.0%.

New 'Idea First Series' of products contributing to portfolio premiumization.

Strong growth witnessed in mixer grinders and pressure cookers.

Revenue from operations declined to zero for the quarter ended June 30, 2025.

The company incurred a significant loss before tax of ₹(155.60) lacs for the quarter.

EPS for continuing operations is negative at ₹(4.25).

Preferential issue finalized with a reduced size of ₹28.37 crore vs. ₹30.87 crore.

Reallocated funds from preferential issue to cover working capital (₹18.87 crore), repayment of long-term liabilities (₹2.66 crore), and payment of past GST dues (₹6.84 crore).

Annual General Meeting scheduled for August 26, 2025, via video conference.

Company alloted 1,41,85,000 equity shares of ₹10 each at a premium of ₹10, aggregating to ₹28.37 crore

Residential sales were ₹449 crore for Q1 FY26

IC revenues grew 16% YoY, reaching ₹120 crore

GDV addition of ₹3,500 crore brings total to ₹41,000 crore

The rights issue raised ₹1,500 crore, with ₹1,000 crore used for debt repayment

Net debt-to-equity ratio is negative at -0.23

Total income decreased by 2% YoY due to a 7% volume reduction and external market headwinds.

EBITDA decreased by 18% YoY, with margins declining from 10.5% to 8.7%.

Export revenues declined by 9% due to tariff uncertainties and port congestion.

Domestic business grew by 5% YoY, offsetting some of the export decline.

Reclaimed rubber exports grew by 5%, slower than the previous year.

Gross margin pressure persists due to sustained inflation in raw material costs, particularly for butyl reclaim.

New technology in reclaim rubber operations has started to yield encouraging results with customer approvals received.

Crumb rubber plant has become operational, with production expected to pick up in the coming quarter.

Commercial operations for tyre pyrolysis oil are expected to begin in Q2 FY26.

Targeting 50% renewable energy use by 2028 through investments in solar power generation.

GDV additions of ₹3,500 crore, bringing the total to ₹41,000 crore.

IC business saw 16% YoY revenue growth, highlighting increased pricing.

Focus on premium and luxury segments, indicating healthy price increases.

Rights issue was successfully completed, leading to a net debt-to-equity ratio of -0.23.

The company aims to balance velocity and profitability in sales.

Efforts are underway to resolve EC and approval delays hindering launch pipeline.

The company is exploring opportunities with government agencies to replicate Mahindra World City model.

Targeting IRR of 20% from each project.

Q1 FY26 Net Profit reported at ₹134.37 lakhs.

Resignation of Statutory Auditor P. D. Randar & Co. and appointment of G.S. Chugh & Associates.

Appointment of S Satheesh Kumar & Associates as Secretarial Auditor for 5 years, pending shareholder approval.

40th Annual General Meeting scheduled for September 25, 2025, via Video Conferencing.

Finance costs significantly impact profitability, amounting to ₹406.86 lakhs

Total expenses were ₹643.59 lakhs

Earnings per share (basic) reported at ₹1.06

Total revenue reported at ₹20.71 Lakhs.

Profit before tax stood at ₹15.68 Lakhs.

Basic and Diluted EPS at ₹6.53.

Appointment of Mr. Himanshu Agarwal and Mr. Jubin Premji Gada as Independent Directors.

Appointment of Mr. Shubham Arvind Kumar Jain as Non-Executive Non-Independent Director.

Registered office is shifted from one location to another.

43rd Annual General Meeting to be held on September 27, 2025, via Video Conferencing.

The Main Business of the company is investment activity

Total Income increased from ₹2.83 Lakhs to ₹3.32 Lakhs YoY.

The company reported a Net Loss of ₹5.10 Lakhs for the quarter ended June 30, 2025.

Other Comprehensive Income stood at ₹30.99 Lakhs.

The company's operations are concentrated in the Trading of Iron and Steel segment.

Basic and Diluted EPS are both ₹(0.88).

Revenue from operations increased significantly from ₹241.34 lakhs in Q1 FY25 to ₹950.63 lakhs in Q1 FY26, indicating strong growth.

Net profit stood at ₹88.98 lakhs for the quarter ended June 30, 2025.

EPS increased to ₹2.66 in Q1 FY26 from ₹0.30 in Q1 FY25.

The company's revenue is segmented into Engineering Contracting Business and Trading of alloy steel for auto components.

Segment revenue from Engineering Contracting Business stood at ₹575.52 lakhs.

Segment revenue from Trading of alloy steel for auto components was ₹375.11 lakhs.

Total assets amounted to ₹2,397.02 lakhs.

Revenue increased significantly from ₹3.00 lacs to ₹20.71 lacs YoY.

Company reported a profit before tax of ₹15.68 lacs, a turnaround from the loss of ₹2.77 lacs in the same quarter last year.

The company appointed three new directors adding expertise in finance, brand management, and marketing.

Registered office shifted to a new location within the same city.

Unaudited results reviewed by auditor with no modifications to the opinion.

Total Income for Q1 FY26 is ₹742.19 Lakhs.

Net Profit After Tax for Q1 FY26 is ₹247.67 Lakhs.

Re-appointment of Mr. Krishan Kumar and Mr. Vinay Kumar Chawla as Directors.

Appointment of M/s Atiuttam Singh & Associates as Secretarial Auditor.

40th AGM scheduled for September 12, 2025, via Video Conferencing.

Earnings per share (Basic and Diluted) are ₹0.35 for Q1 FY26

Transcript of the conference call held on July 31, 2025 is available.

This is in compliance with SEBI regulations regarding disclosure requirements.

The transcript likely contains key financial and operational information discussed during the call.

Investors can access the transcript via the provided link to understand company performance.

EBITDA margin is around 15%.

Consolidated net debt to EBITDA is 2.27 on an annualized basis.

Subsidiary DR Axion reported revenue of ₹408 crore.

Sunbeam's Gurgaon operations have been ceased and all labor has been settled.

Kothavadi plant's order book has almost crossed 50% of the 100 million target, projected for the annual basis.

Alloy wheel business is around 13% of revenue in the standalone.

Germany business is not a growth business; expecting same revenue with marginal adjustment.

Powertrain business expected to see a high single-digit growth

Capex guidance for FY '26 is around ₹800 crores

Revenue growth of 7% YoY to ₹353 crore, indicating steady performance in a seasonally soft quarter.

PAT growth of 35% YoY to ₹53.8 crore reflects improved profitability.

EBITDA margin improved by 1% YoY to 29.4% due to effective cost discipline.

Acquisition of Prashanthi Hospital in Warangal expands the company's footprint in Tier 2 cities.

Prashanthi Hospital, Warangal integrated with the Rainbow Hospitals network.

Outpatient volumes grew by 6%, while inpatient and deliveries de-grew by 1% and 2% respectively.

Payer mix remains steady with 52% from insurance and 48% from cash patients.

Net cash position strong at ₹735 crore, supporting ongoing capital expenditure plans.

Company reiterates revenue growth guidance in the late teens to around 20% for the financial year.

Consolidated revenue increased significantly YoY, indicating strong growth in operations.

Profit before tax has also shown a substantial increase, highlighting improved profitability.

Infrastructure segment continues to be the major revenue driver.

Interim dividend declared at ₹1 per share reflects management's confidence in future performance.

Ongoing arbitration proceedings with a customer may pose a risk to revenue recovery.

Unaudited financial results of joint operations are certified by management, adding a layer of risk.

Emphasis of Matter highlighted on a disputed project, which has been ongoing with a Joint operation

Consolidated net profit declined significantly YoY, reporting a loss of ₹86.93 lakhs in Q1 2025

Total income decreased YoY, primarily driven by lower other income

Increase in total expenses impacted profitability

Rent and Maintenance of immovable properties segment reported profit of ₹82.52 lakhs.

Investment Activities segment contributed ₹13.05 lakhs to the profit

Security Services segment reported a profit of ₹27.79 lakhs

Consolidated net profit after tax is ₹47.79 lakh for Q1 2025.

Total comprehensive income for the period (consolidated) is ₹1,404.91 lakh.

Standalone total income from operations is ₹119.69 lakh.

Basic and diluted EPS (not annualized) is ₹58.14.

Merger with Fujisan Technologies Limited is effective, impacting financial statement presentation.

Investment & Finance segment contributes ₹30.53 lakh to revenue.

Business Centre segment contributes ₹89.16 lakh to revenue.

Payment GMV reached an all-time high of ₹384 billion, up 53% YoY.

UPI contribution to GMV increased to 35%, driven by 85% YoY growth in UPI transactions.

Lending business saw a 30% growth in disbursal this quarter, indicating recovery.

EBITDA improved by ₹15 crore from Q4 to Q1, but remains negative at ₹31 crore.

Targeting break-even EBITDA by Q3 or Q4 FY26, driven by cost optimization and revenue growth.

Net payment margins improved to a little over 15 basis points.

Gross margins for payments rose to 78 percent.

User incentives were reduced by 57 percent in Q1FY26 and payment gateway costs were reduced by 27 percent.

FLDG is given across all lending partners with a range of 3-5 percent.

Cash on balance sheet is ₹475 crore as of 30th June

Net profit increased by 15% YoY to ₹600 crore.

Bookings reached ₹7,082 crore despite an 18% YoY decline, reflecting a 2-year CAGR of 77%.

Strong performance driven by new launches, particularly Godrej MSR City in Bengaluru.

Collections grew by 22% to ₹3,670 crore.

EBITDA increased by 18% to ₹915 crore, but total income decreased by 3% to ₹1,593 crore.

Business development added ₹11,400 crore in future booking value.

57% of the annual guidance for business development achieved in Q1 itself.

Focus remains on opportunistic fast turnaround and micro markets with high potential.

Company is comfortable in exceeding the guidance

Promoters bought back shares, seeing the current share price as absurd levels.

Revenue from operations decreased QoQ from ₹1072.99 lakhs to ₹902.40 lakhs.

Net profit decreased QoQ from ₹43.96 lakhs to ₹61.89 lakhs.

Total Equity increased from ₹3280.65 Lakhs to ₹3342.55 Lakhs.

Earnings per Share (EPS) before extraordinary items remained at ₹1.43 each (Basic and diluted).

Q1 FY'26 revenue grew by 27.3% YoY driven by strong domestic business particularly, notable growth in conductor and cables segment.

EBITDA increased by 27% YoY, with margin at 9.8%

Conductor Division revenue increased by 43.9% YoY due to improved product mix, higher realization, and increased volume.

US conductor revenue grew by 83% YoY.

Transformer Oil segment volume grew by 8.1%, with domestic transformer oil volume up 20%, though the export side was slower.

Cable segment revenue up 36.3% YoY, with strong export performance, US revenues up 136% YoY.

Expect approximately ₹350 crore CAPEX in the next few months.

Total Revenue for Q1 FY26 reported at ₹44.41 Lacs, with no revenue from operations.

Profit before tax was ₹36.40 Lacs for the quarter ended June 30, 2025.

Basic and Diluted Earnings per Share (EPS) stood at ₹0.49 for the quarter.

Appointment of M/s Ramanand & Associates as Statutory Auditors for one year.

Appointment of M/s. K.C.Nevatia & Associates as Secretarial Auditor for five years, subject to shareholder approval.

The 51st Annual General Meeting is scheduled for September 30, 2025.

Investor complaints for the quarter: Opening Balance Nil, Received 1, Resolved 1, Closing Balance Nil.

Consolidated revenue from operations reached ₹2,716.70 crore.

Net profit for the period stood at ₹762.67 crore.

Appointment of M/s Sanjay Gupta & Associates as cost auditors for FY 2025-26.

Pending legal matters include disputes with CCI and SEBI. Emphasis of matter in audit report

Consolidated Financial results include 96 subsidiaries and 1 partnership firm with revenue of Rs 219.59 cr

Significant contingent liabilities exist related to prior years actions of the company, subisidiaries and joint ventures which may impact reported results in future.

Revenue from operations increased to ₹4,519.73 lakhs from ₹2,749.15 lakhs YoY.

Profit before tax significantly improved to ₹633.08 lakhs from ₹216.00 lakhs YoY.

Profit after tax increased to ₹473.75 lakhs from ₹161.64 lakhs YoY.

Basic and diluted EPS increased to ₹6.70 from ₹2.38 YoY.

The company's registered office relocation to Chhattisgarh is underway.

The 45th AGM is scheduled for September 27th via video conferencing.

Transcript of the Q1 FY26 earnings conference call is available.

Call was held on July 29, 2025.

Financial results discussed were unaudited and covered the period ending June 30, 2025.

Both standalone and consolidated results were discussed.

Information is available on the company's website.

Disclosure is in compliance with SEBI regulations 30 and 46.

NSE Scrip Symbol: PUNJABCHEM; BSE Scrip Code: 506618

Revenue increased from ₹16.08 million in Q1 FY25 to ₹20.84 million in Q1 FY26.

Net loss decreased from ₹1.33 million in Q1 FY25 to ₹1.22 million in Q1 FY26.

Resignation of Company Secretary and Compliance Officer Mrs. Malavika S Kumar.

Appointment of Ms. Nayana V B as the new Company Secretary and Compliance Officer.

Extended redemption period for redeemable preference shares until March 26, 2033.

Revenue growth of 11.2% YoY outperforms industry growth of 1.2%.

EBITDA margin expanded by 106 bps YoY to 27.6%.

PAT margin expanded by 154 bps YoY to 16.5%.

Hero MotoCorp added as a new marquee customer.

Strong free cash flow generation of ₹325.6 million during the quarter.

New technology products contributed 25% of revenue during Q1 FY26.

Exports contributed 6.7% of consolidated revenue amounting to ₹140.9 million.

Targeting 14%-15% of consolidated revenue from exports by FY28.

Revenue from operations stood at ₹480.61 lakhs for Q1 FY26.

Total income for the quarter was ₹487.22 lakhs.

Profit before tax (PBT) amounted to ₹11.76 lakhs.

Profit after tax (PAT) was ₹8.80 lakhs.

Basic and diluted earnings per share (EPS) both stood at ₹1.23.

Total expenses were ₹475.46 lakhs.

Uncertainty in the U.S. market due to tariffs is constraining demand and disrupting the value chain.

The company is diversifying its geographic footprint to non-US markets such as the Czech Republic, Canada, and France.

KREOS line is expected to begin contributing from this fiscal year, with Chromia line expected to have a more material impact over subsequent periods.

New expansion plans are underway, with production expected to start in FY27 and add an additional turnover of ₹500 crore.

Company aims to maintain margins by focusing on innovative products and better quality, but it will depend on the order that the company gets post-tariff.

There is a slowdown in new orders due to the tariff negotiations between India and the U.S.

Company expects that the consumer in the U.S. will have to pay a higher price.

Customers are withholding releasing the orders

Non-US revenues are gradually increasing. But then the major volume remains from the U.S. market.

Revenue grew by 16% YoY, indicating strong growth momentum.

EBITDA margin expanded to 14.6%, driven by operational efficiency.

Order book remains robust at ₹20,946 crore, providing revenue visibility.

Net debt is negative, reflecting a healthy financial position.

Company expects to maintain a revenue growth rate of 15-16% and an EBITDA margin of 14-15%.

Company is focused on EPC projects and exploring HAM projects.

Expects order inflows close to ₹2,000cr in Q2

Working Capital around 115 days

Revenue from Operations increased to ₹480.61 Lakhs in Q1 FY26 from ₹255.95 Lakhs in Q1 FY25.

Net Profit stands at ₹8.80 Lakhs

Earnings per share (EPS) ₹1.23

Total Expenses are ₹475.46 Lakhs

The Company's operations are concentrated in the trading of iron and steel.

Total revenue increased to ₹80.08 lakhs from ₹53.93 lakhs YoY.

The company reported a net loss of ₹0.45 lakhs, a shift from the previous year's profit of ₹2.44 lakhs.

Significant portion of assets are tied up in long-term loans and advances amounting to ₹5,656.71 lakhs.

Emphasis on matters involving pending confirmations of debit balances and retrieval of wrongly transferred ZOCDs suggests internal control challenges.

There's pending matters relating to Tax Deducted at Source not paid nor returns filed till 29.05.2025

Cash flow from operating activities is negative (-₹320.73 Lakhs)

Revenue grew by 16.8% YoY, driven by strong performance of own brand portfolio and Creative segment.

Gross profit margin improved to 50% due to a change in product mix favoring higher-value products.

EBITDA margin increased to 17.2%, showing improved operational efficiency.

Creative segment achieved impressive growth of 77% YoY, contributing ₹65 crore to revenue.

Steel bottle segment revenue increased by 55% YoY to ₹13 crore.

Capex is progressing as planned for new Valsad manufacturing facility, including orders for 60 injection molding machines.

Installed a rooftop solar system with 1.85 MW capacity at a cost of ₹4.5 crore, expected to reduce dependence on grid electricity and lower GHG emissions.

Domestic OEM sales declined by 24% year-on-year, driven largely by decline in pen OEM customer

Consolidated revenue from operations for Q1 2025 reached ₹8,539.07 million

Net profit for Q1 2025 reported at ₹1,217.09 million

Company completed the acquisition of Railway Business of Escorts Kubota Limited (Escorts Kubota) on June 1, 2025

Company revised the remaining estimated useful life of its certain items of plant and machinery, resulting in a decrease in the depreciation