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Solitaire Machine Tools Ltd Interim / Quarterly Report 2026
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Interim / Quarterly Report
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SMT
SOLITAIRE
MACHINE
TOOLS LTD
May 9, 2026
To
The Manager
BSE Limited
Corporate Relationship Department
Phiroze Jeejeebhoy Towers
Dalal Street, Mumbai - 400 001
Sub: Statement of Standalone Audited Financial Results for the Quarter and Year ended 31st March, 2026 and Independent Auditor's Report of Statutory Auditor thereon.
Ref: Scrip Code: 522152 | Scrip Name: SOLIMAC
Dear Sir/Madam,
In terms of the provisions of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board of Directors at their meeting held on 9th May, 2026 have considered and approved the Standalone Audited Financial Statements for the Year Ended 31st March, 2026 and Audited Financial Results for the Quarter and Year ended 31st March, 2026 along with the statement of Assets & Liabilities as on 31st March, 2026 and for the year ended 31st March, 2026. Accordingly, we are pleased to enclose herewith the following:
- Standalone Audited Financial Statements for the Year Ended 31st March, 2026 and Audited Financial Results for the Quarter and Year ended 31st March, 2026 along with the statement of Assets & Liabilities as on 31st March, 2026 and Statement of Cashflows for the year ended 31st March, 2026; and
- Independent Auditor's Report on Audited Financial Statements for the Year ended 31st March, 2026.
- Declaration with respect to Audit Report with Unmodified Opinion to the Audited Financial Results for the Financial Year ended 31st March, 2026.
Kindly take the same on your record and oblige.
Yours Faithfully
For Solitaire Machine Tools Limited
RESHMA
SHAHIL
KIRI
Digitally signed by RESHMA
SHAHIL KIRI
Date:2026.05.09 09:10:51 +05'30'
Reshma Kiri
Company Secretary &
Compliance Officer
ACS - 54902
Encl: As Above
SOLITAIRE MACHINE TOOLS LIMITED - CIN No. L28932GJ1967PLC143293
Regd. Office & Plant II: A-24/25, Krishna Industrial Estate, Near B.I.D.C., Gorwa, Vadodara - 390 016, Gujarat, India.
Plant I : 292, Dharamsinh Desai Marg, Chhani Road, Vadodara-390 024, Gujarat, India.
Mob.: 99044 08538, 9099440114 • E-mail: [email protected] • Website: www.smtgrinders.com
K C Mehta & Co LLP
Chartered Accountants
Independent Auditor's Report on the Audited Financial Results of Solitaire Machine Tools Limited for the year ended March 31, 2026, pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended
To,
The Board of Directors of
Solitaire Machine Tools Limited
Report on the Audit of Annual Financial Results
Opinion
We have audited the accompanying annual financial results of Solitaire Machine Tools Limited (hereinafter referred to as the “Company”) for the year ended March 31, 2026, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid annual financial results:
(i) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
(ii) give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable Indian Accounting Standards, and other accounting principles generally accepted in India, of net profit and other comprehensive income and other financial information of the Company for the year ended March 31, 2026.
Basis for Opinion
We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013 (“Act”). Our responsibilities under those SAs are further described in the Auditors’ Responsibilities for the Audit of the Annual Financial Results section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India (“ICAI”) together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Act and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our opinion on annual financial results.
Management’s and Board of Directors’ Responsibilities for the annual financial results
These annual financial results have been prepared on the basis of the annual financial statements. The Company’s Management and the Board of Directors of the Company are responsible for the preparation and presentation of these annual financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Company in accordance with the recognition and measurement principles laid down in Indian Accounting Standards prescribed under Section 133 of the Act read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 of the
K C Mehta & Co LLP (LLPIN – ABB-3171) is registered as Partnership with limited liability
Regd Office: Meghdhanush, Race Course, Vadodara - 390 007 | Branches: Ahmedabad • Bengaluru • Mumbai
Phone: +91 265 2440400 | e-mail: [email protected] | website: www.kcmehta.com
K C Mehta & Co LLP
Chartered Accountants
Listing Regulations. The Board of Directors of the company is responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and the design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring accuracy and completeness of the accounting records, relevant to the preparation and presentation of the annual financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the annual financial results, the Management and Board of Directors of the Company is responsible for assessing the ability of the Company to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors of the Company are also responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the annual financial results
Our objectives are to obtain reasonable assurance about whether the annual financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors' report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these annual financial results.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
-
Identify and assess the risks of material misstatement of the annual financial results, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
-
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3) (i) of the Act, we are also responsible for expressing our opinion through a separate report on the complete set of financial statements on whether the company has adequate internal financial controls with reference to financial statements in place and the operating effectiveness of such controls.
-
Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures in the annual financial results made by the Management and the Board of Directors.
-
Conclude on the appropriateness of the Management's and Board of Directors' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the ability of the Company to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors' report to the related disclosures in the annual
K C Mehta & Co LLP
Firm Regn. No. 106237NW100827
K C Mehta & Co LLP (LLPIN - ABB-3171) is registered as Partnership with limited liability
Regd Office: Meghdhanush, Race Course, Vadodara - 390 007 | Branches: Ahmedabad • Bengaluru • Mumbai
Phone: +91 265 2440400 | e-mail: [email protected] | website: www.kcmehta.com
K C Mehta & Co LLP
Chartered Accountants
financial results or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the annual financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
We communicate with those charged with governance of the Company regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.
Other Matter
The annual financial results include the results for the quarter ended March 31, 2026 being the balancing figures between the audited figures in respect of the full financial year and the published unaudited year to date figures up to the third quarter of the current financial year which were subjected to limited review by us.
For K C Mehta & Co LLP
Chartered Accountants
Firm’s Registration No. 106237W/W100829
Neeta R. Shah
Partner
Membership No. 045027
UDIN: 26045027NCWENW3640
Place: Vadodara
Date: May 09, 2026
K C Mehta & Co LLP (LLPIN – ABB-3171) is registered as Partnership with limited liability
Regd Office: Meghdhanush, Race Course, Vadodara - 390 007 | Branches: Ahmedabad • Bengaluru • Mumbai
Phone: +91 265 2440400 | e-mail: [email protected] | website: www.kcmehta.com
| SOLITAIRE MACHINE TOOLS LIMITED Regd. Office: A-24/25, Krishna Industrial Estate, Gorwa, Vadodara-390016 Tel: 9904408538 - Email: [email protected] CIN No: L28932G11967PLC143293 Statement of Audited Financial Results for the Quarter and Year ended 31st March, 2026 (Rs. in lakhs) | ||||||
|---|---|---|---|---|---|---|
| Sr.No. | Particulars | Quarter Ended | Year Ended | |||
| 31-Mar-26 | 31-Dec-25 | 31-Mar-26 | 31-Mar-26 | 31-Mar-25 | ||
| (Audited) | (Unaudited) | (Audited) | (Audited) | (Audited) | ||
| I | Income | |||||
| Revenue from Operations | 838.59 | 359.35 | 704.15 | 1,906.56 | 2,250.17 | |
| Other Income | 4.32 | 5.34 | 32.98 | 9.00 | 65.60 | |
| II | Total Income (I+II) | 842.91 | 364.70 | 737.13 | 1,915.56 | 2,315.77 |
| IV | Expenses | |||||
| a) Cost of materials consumed | 371.18 | 128.73 | 242.45 | 938.84 | 998.41 | |
| b) Changes in Inventories of finished goods and work-in-progress | 104.69 | (16.90) | 128.04 | (92.26) | 95.79 | |
| c) Employee benefits expense | 102.49 | 109.57 | 106.28 | 421.65 | 430.54 | |
| d) Finance Costs | 8.25 | 0.04 | 0.05 | 8.31 | 0.10 | |
| e) Depreciation and amortization expenses | 25.95 | 14.23 | 15.25 | 68.64 | 59.30 | |
| f) Other Expenses | 128.02 | 82.82 | 147.87 | 378.50 | 417.41 | |
| Total Expenses (IV) | 740.57 | 318.50 | 639.95 | 1,723.67 | 2,001.56 | |
| V | Profit before tax for the period (III-IV) | 102.33 | 46.20 | 97.18 | 191.89 | 314.22 |
| VI | Tax Expenses | |||||
| a) Current Tax | 30.89 | 11.96 | 16.08 | 55.54 | 73.18 | |
| b) Taxation pertaining to earlier years | 8.07 | (0.01) | 4.14 | 8.06 | 4.14 | |
| c) Deferred Tax | (4.46) | 0.89 | 5.93 | (6.21) | 2.36 | |
| VII | Profit for the period (V-VI) | 67.84 | 33.36 | 71.03 | 134.51 | 234.54 |
| VIII | Other Comprehensive Income | |||||
| A. Items that will not be reclassified to profit & loss | ||||||
| (i) Re-measurement of the defined benefit plan | 2.52 | 4.28 | 12.30 | 8.01 | 2.42 | |
| (ii) Tax on above | (0.63) | (1.08) | (3.10) | (2.01) | (0.61) | |
| Re-measurement of the defined benefit plan (net of tax) | 1.88 | 3.20 | 9.20 | 5.99 | 1.81 | |
| Total Comprehensive Income for the period (VII+VIII) | 69.72 | 36.56 | 80.23 | 140.50 | 236.35 | |
| X | Paid-up Equity Share Capital (Face Value of Rs. 10 per share) | 454.22 | 454.22 | 454.22 | 454.22 | 454.22 |
| XI | Other Equity | 1,556.69 | 1,507.04 | |||
| XII | Earning per equity share (*) | |||||
| Basic Earning per equity share (*) | 1.49 | 0.73 | 1.56 | 2.96 | 5.16 | |
| Diluted Earning per equity share (*) | 1.49 | 0.73 | 1.56 | 2.96 | 5.16 |
NOTES:
1. The above audited financial results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company in their respective meetings held on May 9, 2026. These financial results have been audited by Statutory Auditors as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The Statutory Auditors have issued an Unmodified Audit Report on Audited Financial Statements.
2. The above audited financial results have been prepared in accordance with the Indian Accounting Standards specified under Section 133 of the Companies Act, 2013.
3. The Government of India has notified the implementation of four new Labour Codes on November 21, 2025, by consolidating and rationalizing 29 existing labour laws. The Company has estimated the financial implications thereof and has considered additional impact of Rs. 7.55/akhs towards gratuity in the financial result for the year ended on 31st March, 2026.
4. The Board of Directors of the Company has recommended a Final Dividend @ 15% i.e Rs.1.5 per equity share of Rs. 10/- each for the financial year ended 31st March, 2026.
5. Figures for the quarters ended 31st March, 2026 and 31st March, 2025 as reported in these financial results are balancing figures between the audited figures in respect of the full financial year and published year to date reviewed figures up to third quarter of the relevant financial year.
6. Segment information: Information reported to the chief operating decision maker (CODM) for the purpose of resource allocation and assessment of segment performance focuses on single business segment of "manufacturer and remanufacturer of centreless grinding machines and its spare parts." Hence the Company is having only one reportable business segment under Ind AS 108 "Operating Segment."
7. Segment Information: Information reported to the chief operating decision maker (CODM) for the purpose of resource allocation and assessment of segment performance focuses on single business segment of "manufacturer and remanufacturer of centreless grinding machines and its spare parts." Hence the Company is having only one reportable business segment under Ind AS 108 "Operating Segment."
8. Statement of Asset and Liabilities and Statement of cash flows as at and for the year ended March 31, 2026 is attached herewith.
Place: Vadodara
Date: May 9, 2026
For an on behalf of the Board of Directors
Solitaire Machine Tools Ltd
Chairman
EIN: 00174006
| SOLITAIRE MACHINE TOOLS LIMITED
Statement of Assets and Liabilities as on 31st March, 2026
(Rs. in Lakhs) | | |
| --- | --- | --- |
| Particulars | As at
31st March, 2026 | As at
31st March, 2025 |
| ASSETS | | |
| (1) Non-Current Assets | | |
| (a) Property, Plant and Equipment and Intangible Assets | | |
| (i) Property, Plant and Equipment | 1,729.79 | 618.46 |
| (ii) Intangible assets | 0.19 | 2.76 |
| (b) Capital work-in-progress | - | 1,034.77 |
| (c) Financial Assets | | |
| (i) Investments | 0.21 | 0.21 |
| (ii) Other Financial Assets | 5.56 | 15.42 |
| (d) Other non-current assets | 0.74 | 60.21 |
| Total Non-Current Assets | 1,736.51 | 1,731.83 |
| (2) Current Assets | | |
| (a) Inventories | 543.23 | 430.69 |
| (b) Financial Assets | | |
| (i) Investments | 183.82 | 109.53 |
| (ii) Trade receivables | 108.33 | 414.95 |
| (iii) Cash and cash equivalents | 131.79 | 65.54 |
| (iv) Other bank balances | 146.64 | 152.00 |
| (v) Loans | 0.26 | 0.87 |
| (vi) Other Financial Assets | 17.71 | 15.43 |
| (c) Other current assets | 8.76 | 1.67 |
| Total current assets | 1,140.55 | 1,190.67 |
| Total assets | 2,877.05 | 2,922.51 |
| EQUITY AND LIABILITIES | | |
| Equity | | |
| (a) Equity Share Capital | 454.22 | 454.22 |
| (b) Other Equity | 1,556.69 | 1,507.04 |
| Total equity | 2,010.91 | 1,961.26 |
| Liabilities | | |
| (1) Non-Current Liabilities | | |
| (a) Financial Liabilities | | |
| (i) Borrowings | 272.13 | 413.94 |
| (b) Provisions | 1.34 | 4.74 |
| (c) Deferred tax liabilities (net) | 36.79 | 40.98 |
| Total non-current liabilities | 310.27 | 459.66 |
| (2) Current Liabilities | | |
| (a) Financial Liabilities | | |
| (i) Borrowings | 141.80 | 141.80 |
| (ii) Trade payables | | |
| (A) due to micro enterprises and small enterprises | 89.96 | 31.71 |
| (B) due to other than micro enterprises and small enterprises | 79.53 | 111.79 |
| (iii) Other Financial liabilities | 92.04 | 123.32 |
| (b) Other Current Liabilities | 134.19 | 70.69 |
| (c) Provisions | 15.02 | 16.20 |
| (d) Current Tax Liabilities (Net) | 3.34 | 6.08 |
| Total Current liabilities | 555.88 | 501.59 |
| Total Equity and Liabilities | 2,877.05 | 2,922.51 |
| Material Accounting Policies and Notes to Financial Statements | | |
ELMER HAMMER
Firm Regn. No. 106237W/W100829
For an on behalf of the Board of Directors
Solitaire Machine Tools Ltd
Ashok / Sheth
Chairman
DIN: 00174006
Place : Vadodara
Date : May 9, 2026
SOLITAIRE MACHINE TOOLS LIMITED
Statement of Cash Flows for the Year Ended 31st March, 2026
(Rs. in Lakhs)
| Particulars | For the year ended 31st March, 2026 | For the year ended 31st March, 2025 |
|---|---|---|
| [A] CASH FLOW FROM OPERATING ACTIVITIES | ||
| Profit/(Loss) before tax | 191.89 | 314.22 |
| Adjustments for: | ||
| Depreciation & Amortization of Property, Plant and Equipments and Intangible Assets | 68.64 | 59.30 |
| Fair value Gain on FVTPL investments | 2.71 | (7.07) |
| Interest on Deposits with Bank | (4.21) | (7.20) |
| Finance Costs | 8.31 | 0.10 |
| Provision for Doubtful Receivables/Advances/Sundry balances written off | 10.63 | 14.88 |
| Provision/Advances/Sundry Balances written back | (0.11) | (0.26) |
| (Profit)/Loss on sale of Property, Plant and Equipments (Net) | - | (42.56) |
| (Profit)/Loss on sale of Investments (Net) | (0.59) | - |
| Unrealised foreign exchange (gain)/loss (Net) | (0.33) | 1.42 |
| Operating Profit/(Loss) before changes in working capital | 276.95 | 332.84 |
| Adjustment for (Increase)/Decrease in Operating Assets | ||
| Inventories | (112.54) | 117.09 |
| Trade Receivables | 306.20 | 175.05 |
| Loans and Advances | 0.61 | 0.39 |
| Other Assets | 14.02 | (8.17) |
| Adjustment for Increase/(Decrease) in Operating Liabilities | ||
| Trade Payables | 26.10 | (14.07) |
| Provisions | 3.43 | (17.99) |
| Other Liabilities | 64.19 | (296.36) |
| Cash flow from operations after changes in working capital | 578.95 | 288.78 |
| Net Direct Taxes (Paid)/Refunded | (67.49) | (66.26) |
| Net Cash Flow from/(used in) Operating Activities | 511.46 | 222.52 |
| [B] CASH FLOW FROM INVESTING ACTIVITIES | ||
| Purchase of Property, Plant and Equipments including Capital Advances & CWIP | (145.85) | (501.82) |
| Sale of Property, Plant and Equipments | - | 45.10 |
| Purchase of Investment | (102.00) | (25.00) |
| Sale of Investment | 25.59 | - |
| Interest on Deposits with Bank | 8.86 | 16.98 |
| FD Maturity Receipt | 0.00 | 100.00 |
| Bank Balance not considered as Cash and Cash Equivalents | 5.36 | (104.71) |
| Net Cash Flow from/(used in) Investing Activities | (208.05) | (469.46) |
| [C] CASH FLOW FROM FINANCING ACTIVITIES | ||
| Proceeds from Borrowings | - | 442.43 |
| Repayment of Borrowings | (141.80) | (90.17) |
| Finance Costs | (8.31) | (0.10) |
| Dividend Paid including Dividend Distribution tax | (87.04) | (81.13) |
| Net Cash Flow from/(used in) Financing Activities | (237.16) | 271.03 |
| Net Increase/ (Decrease) in Cash and Cash Equivalents | 66.25 | 24.09 |
| Cash & Cash Equivalents at beginning of period (see Note 1) | 65.54 | 41.45 |
| Cash and Cash Equivalents at end of period (see Note 1) | 131.79 | 65.54 |
Notes:
| 1 Cash and Cash equivalents comprise of: | ||
|---|---|---|
| Cash on Hands | 0.01 | 0.00 |
| Balance with Banks | 131.78 | 25.54 |
| Bank Deposit | - | 40.00 |
| Cash and Cash equivalents | 131.79 | 65.54 |
| Cash and Cash equivalents as restated | 131.79 | 65.54 |
2 Figures of the previous year have been regrouped / reclassified wherever necessary.
For an on behalf of the Board of Directors
Solitaire Machine Tools Ltd
Place: Vadodara
Date: May 9, 2026
Ashok J Sheth
Chairman
DIN: 00174006