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TELGE PROJECTS LIMITED Interim / Quarterly Report 2026
60053_rns_2026-05-18_a4a0df8f-6739-48b1-a16c-d1d8d40b8c82.pdf
Interim / Quarterly Report
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Telge Projects
Date: 18/05/2026
To,
The Listing Manager
Bombay Stock Exchange Limited,
Phiroze Jeejebhoy Towers, Dalal Street,
Mumbai- 400 001
Dear Sir,
Ref.: Scrip Code: 544544 | ISIN: INE0SRP01014 | Symbol: TELGE
Sub: Outcome of the Meeting of the Board of Directors held on Monday, May 18, 2026.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ["Listing Regulations"] we wish to inform you that the Board of Directors of the Company in their meeting held today i.e. Monday, May 18, 2026 at the Registered Office of the Company at Unit No. 502A, 5th Floor, Om Chambers, Plot No. T-29, 30, 31, T Block, Bhosari I.E., Pune, Pune City, Maharashtra, India, 411026 have considered and approved the following agenda items:
- Approved the financial results (standalone and consolidated) of the Company for the quarter and year ended March 31, 2026 prepared in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 together with Auditors Report thereon. The same is enclosed herewith as Annexure A.
R.M. Rajapurkar & Co., the Statutory Auditors of the Company, have issued the auditors' report with an unmodified opinion on the financial results. The necessary declaration to this effect is provided as Annexure B.
- Based on the recommendation of Audit Committee, Re-appointment of Mr. Vinayak Sahebrao Mane as the Internal Auditor of the Company for the financial year 2026 – 27.
Pursuant to Regulation 30 read with Schedule III - Para A (7) of Part A of the Listing Regulations and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, the brief profile of the Internal Auditor is enclosed herewith as Annexure C.
- Based on the recommendation of Audit Committee, Re-appointment of M/s KPN & Associates, Practicing Company Secretary as Secretarial Auditor for the Financial Year 2026-27.
Telge Projects Limited
(formerly known as Telge Projects Private Limited)
OFFICE ADDRESS
OM Chambers IT Park, Office No. 502(A), T. 29/31, Telco
Road, Bhosari, Pune 411026, Maharashtra, INDIA
PHONE
+91 7887882012
WEBSITE: WWW.TELGEPROJECTS.COM
CIN: L29256PN2018PLC174381
PAN NO: AAGCT5848L
GST NO: 27AAGCT5848L1ZO
Telge® Projects
Pursuant to Regulation 30 read with Schedule III - Para A (7) of Part A of the Listing Regulations and SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, the brief profile of the Secretarial Auditor is enclosed herewith as Annexure D.
The said meeting commenced at 12.30 p.m. and concluded at 5.45 p.m.
You are requested to take the above-mentioned information on your records.
Thanking you,
Yours faithfully,
For Telge Projects Limited
BARKHA
MOHIT
BHARUKA
Digitally signed by
BARKHA MOHIT
BHARUKA
Date: 2026.05.18
19:35:00 +05'30'
Barkha Bharuka
Company Secretary & Compliance Officer
Telge Projects Limited
(formerly known as Telge Projects Private Limited)
OFFICE ADDRESS
OM Chambers IT Park, Office No. 502(A), T. 29/31, Telco Road, Bhosari, Pune 411026, Maharashtra, INDIA
EMAIL
[email protected]
PHONE
+91 7887882012
WEBSITE: WWW.TELGEPROJECTS.COM
CIN: L29256PN2018PLC174381
PAN NO: AAGCT5848L
GST NO: 27AAGCT5848L1ZO
CA INDIA
R M Rajapurkar & Co. CHARTERED ACCOUNTANTS
www.rmrajapurkar.com
020-27651074 / 27651075
AUDITOR'S REPORT ON STANDALONE FINANCIAL RESULTS OF TELGE PROJECTS LIMITED FOR THE HALF YEAR AND YEAR ENDED MARCH 31, 2026 PURSUANT TO THE REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
To,
The Board of Directors,
TELGE PROJECTS LIMITED
Opinion
We have audited the accompanying statement of Standalone Financial Results ("the Statement") of Telge Projects Limited (hereinafter referred to as "the Company") CIN L29256PN2018PLC174381 and having its registered office at Unit No. 502A, 5th Floor, Om Chambers, Bhosari, Pune, 411026, for the Half year and year ended March 31, 2026, attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (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 year to date Standalone financial results:
(i) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended in this regard; and;
(ii) give a true and fair view in conformity with the aforesaid Accounting Standards and other accounting principles generally accepted in India of the net profit and other financial information of the Company for the year ended March 31, 2026.
Basis of Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the 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 together
Office : "The Barcelona", Plot No. 311, Sector No. 28
Near Ganga Nagar Bus Stop, Pradhikaran, Nigdi, Pune - 411044
Residence : Plot No. 377, Sector 24, Lokmanya Tilak Road
Pradhikaran, Nigdi, Pune - 411044
with the ethical requirements that are relevant to our audit of the financial results 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 Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the financial results.
Management's and Board of Directors' Responsibilities for the Standalone Financial Results
These Standalone financial results have been prepared on the basis of the Standalone financial statements.
The Company's Management and the Board of Directors are responsible for the preparation and presentation of these financial results that give a true and fair view of the net profit/loss and other financial information in accordance with measurement principles laid down in 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 Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act; 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 financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the financial results, the Management and the Board of Directors are responsible for assessing the Company's ability 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 is responsible for overseeing the Company's financial reporting process.
Auditor's Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's 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 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 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 Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system 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 made by the Management and Board of Directors.
-
Conclude on the appropriateness of Management 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 Company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the 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 auditor's 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 financial results, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
PINE RAG NO 108335W
Materiality is the magnitude of misstatements in the Standalone Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Standalone Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Standalone Financial Results.
We communicate with those charged with governance 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 Standalone financial results include the results for the half year & quarter ended on March 31, 2026 being the balancing figures between the audited figures of the full financial year and the unaudited year to date figures up to the 1st half year & quarter ended on December 31, 2026 of the current financial year.
For R. M. Rajapurkar & Co.
Chartered Accountants
Firm Registration No.: 108335W
R. M. Rajapurkar
CA Ravindra M. Rajapurkar
Partner
Membership No.: 040908
Place: Pune
Date: 18th May 2026
UDIN: 26040908MJNRDC1376
Telge Projects Limited
Regd. Office: Unit No. 502A, 5th floor, Om Chambers, Plot No. T-29,30,31, T Block, Bhosari, Pune-411026
CIN: L29256PN2018PLC174381
Website: telgeprojects.com
E-mail: [email protected]
Standalone Statement of Assets and Liabilities as at 31st March 2026
| Particulars | (₹ in lakhs) | |
|---|---|---|
| As at | ||
| 31st March 2026 | ||
| Audited | As at | |
| 31st March 2025 | ||
| Audited | ||
| I EQUITY AND LIABILITIES | ||
| 1 Shareholders funds | ||
| a) Share capital | 979.01 | 102.80 |
| b) Reserve and surplus | 2,583.10 | 831.36 |
| Total shareholders funds | 3,562.12 | 934.16 |
| 2 Share application money pending allotment | - | - |
| 3 Non-current liabilities | ||
| a) Long-term borrowings | 545.78 | 617.83 |
| b) Deferred tax liabilities (Net) | 0.47 | (8.47) |
| c) Other Long term liabilities | - | - |
| d) Long-term provisions | 44.40 | 25.26 |
| Total Non-current liabilities | 590.65 | 634.62 |
| 4 Current liabilities | ||
| a) Short-term borrowings | 371.45 | 319.82 |
| b) Trade payables | - | - |
| i) total outstanding dues of msme | 19.13 | 4.54 |
| ii) total outstanding dues of other than msme | 118.60 | 122.81 |
| c) Other current liabilities | 113.50 | 85.54 |
| d) Short-term provisions | 2.83 | 30.61 |
| Total Current liabilities | 625.52 | 563.32 |
| Total Shareholders funds and liabilities | 4,778.29 | 2,132.09 |
II ASSETS
1 Non-current assets
| a) Property, plant and equipment and Intangible assets | 859.96 | 821.85 |
|---|---|---|
| i) Property, plant and equipment | 859.96 | 821.85 |
| ii) Intangible assets | 5.97 | 6.90 |
| iii) Capital work in progress | 129.35 | - |
| b) Non-current investments | 434.25 | 434.25 |
| c) Deferred tax assets (net) | - | - |
| d) Loans and advances | - | - |
| e) Other non-current assets | 11.87 | 6.88 |
| Total Non-current assets | 1,441.40 | 1,269.88 |
2 Current assets
| a) Current investments | - | - |
|---|---|---|
| b) Inventories | - | - |
| c) Trade receivables | 864.84 | 415.17 |
| d) Cash and cash equivalents | 1,814.00 | 61.36 |
| e) Short-term loans and advances | 2.76 | 2.36 |
| f) Other current assets | 655.28 | 383.32 |
| Total Current assets | 3,336.88 | 862.21 |
| Total Assets | 4,778.29 | 2,132.09 |
Telge Projects Limited
Regd. Office: Unit No. 502A, 5th floor, Om Chambers, Plot No. T-29,30,31, T Block, Bhosari, Pune-411026
C09: L29256PN2018PLC174381
Website: telgeprojects.com
E-mail: [email protected]
(If in lakhs)
Statement for Standalone Audited Financial results for the Quarter & Financial year ended on 31st March 2026
| Sr.No. | Particulars | Quarter Ended | Six Month ended | Year Ended |
|---|---|---|---|---|
| 31st March 2026 | ||||
| Audited | 31st December 2025 | |||
| Unaudited | 31st March 2026 | |||
| Audited | 31st March 2026 | |||
| Audited | 30th September 2025 | |||
| Unaudited | 31st March 2026 | |||
| Audited | 31st March 2026 | |||
| Audited | ||||
| 1 | Income | |||
| a) Revenue from operations | ||||
| i) Sale of services | 590.83 | 516.17 | 692.15 | 1,107.00 |
| b) Other Income | 11.40 | 41.83 | 48.20 | 53.23 |
| Total Income (a+b) | 602.23 | 558.00 | 740.35 | 1,160.23 |
| 2 | Expenses | |||
| a) Employee benefit expenses | 331.88 | 296.62 | 193.41 | 628.50 |
| b) Finance Costs | 23.37 | 26.22 | 70.62 | 49.59 |
| c) Depreciation and amortisation costs | 23.18 | 15.08 | 21.74 | 38.26 |
| e) Software and subscription expenses | 82.65 | 85.89 | 109.73 | 168.53 |
| d) Other expenses | 13.78 | 70.42 | 43.75 | 84.20 |
| Total expenses (a to d) | 474.87 | 494.23 | 439.25 | 969.08 |
| 3 | Profit/(Loss) before exceptional & extraordinary items and tax (1-2) | 127.37 | 63.77 | 301.10 |
| 4 | Exceptional items | |||
| 5 | Profit/(Loss) before Tax (3+4) | 127.37 | 63.77 | 301.10 |
| 6 | Tax expense | |||
| i) Current Tax | 35.81 | 13.88 | 82.16 | 49.69 |
| ii) Deferred Tax | 6.66 | (2.11) | 12.00 | 4.55 |
| Total Tax | 42.47 | 11.77 | 54.16 | 54.24 |
| 7 | Net Profit/(Loss) for the period (5-6) | 84.90 | 52.00 | 206.94 |
| 8 | Paid-up Equity Share Capital (Face value of 110 per equity share) | 979.01 | 979.01 | 102.80 |
| 9 | Earning per Share | |||
| a) Basic (In. f) | 0.78 | 0.53 | 20.27 | 1.40 |
| b) Diluted (In. f) | 0.78 | 0.53 | 20.27 | 1.40 |
| 10 | Weighted average Equity Shares used in computing EPS (in actuals) | 97,90,148 | 97,90,148 | 10,20,669 |
Regd. Office: Unit No. 502A, 5th floor, Om Chambers, Plot No. T-29,30,31, T Block, Bhosari, Pune-411026
CIN: L29256PN2018PLC174381
Website: telgeprojects.com E-mail: [email protected]
Statement for Standalone Audited Cash Flow Statement for the year ended on 31st March 2026
(₹ in lakhs)
| Sr.No. Particulars | Year Ended | ||
|---|---|---|---|
| 31st March 2026 | |||
| Audited | 31st March 2025 | ||
| Audited | |||
| I | Cash flow from operating activities | ||
| Profit before tax | 332.45 | 458.33 | |
| Adjustments to reconcile profit before tax to net cash flows | |||
| Depreciation | 67.52 | 37.93 | |
| Finance cost | 77.93 | 128.85 | |
| Sundry balances written back | 0.00 | 37.41 | |
| Profit on sale of assets | 0.00 | (42.22) | |
| Interest income | (43.59) | (1.19) | |
| Profit on sale of investments | (9.79) | - | |
| Operating Cash flow before working capital changes | 424.52 | 619.12 | |
| Working capital adjustments | |||
| Decrease/(Increase) in Trade Receivables | (449.67) | (61.40) | |
| Decrease/(Increase) in Short Term Loans & Advances | (0.39) | (30.06) | |
| Decrease/(Increase) in other current assets | (228.30) | (265.72) | |
| Decrease/(Increase) in Inventories | 0.00 | - | |
| (Decrease)/Increase in Trade Payables | 10.38 | 63.05 | |
| (Decrease)/Increase in Current Liabilities | 27.97 | 33.04 | |
| (Decrease)/Increase in Short/ Long Term Provisions | 21.03 | (10.83) | |
| Total Working capital adjustments | (618.98) | (271.93) | |
| Taxes paid | 154.19 | 81.11 | |
| Net Cash Flow from operating activities | (348.65) | 266.08 | |
| II | Cash flow from investing activities | ||
| (Increase) / Decrease in Capital Expenditure | (234.05) | (672.64) | |
| (Increase)/ Decrease in Investments | - | (253.38) | |
| (Increase)/ Decrease in Current Investments | 9.79 | - | |
| Interest Income | 43.59 | 1.19 | |
| Proceeds from / (Additional investment in) Non Current deposits | (4.99) | - | |
| Net Cash flow from investing activities | (185.67) | (924.83) | |
| III | Cash flow from financing activities | ||
| Proceeds from Issue of Share Capital | 2385.32 | 150.01 | |
| Proceeds from / (Repayment of ) Short Term Borrowings | 51.63 | 220.34 | |
| Proceeds from / (Repayment of ) Long Term Borrowings | (72.06) | 417.78 | |
| Finance Cost | (77.93) | (72.78) | |
| Net Cash flow from financing activity | 2286.96 | 715.35 | |
| IV | Net increase/(decrease) in cash and cash equivalents | 1752.64 | 56.60 |
| V | Cash and Cash Equivalents At the beginning of the year | 61.36 | 4.77 |
| VI | Cash and Cash Equivalents At the end of the year (IV+V) | 1814.00 | 61.36 |
Notes – Standalone Financial Statements
1. Overview
The audited standalone financial statements represent the financial performance and position of Telge Projects Limited (the Company) for the quarter (Q4), Half Year (H2) and financial year ended 31st March 2026.
These statements have been prepared in accordance with the Accounting Standards as prescribed under Section 133 of the Companies Act, 2013, and in compliance with the SEBI (LODR) Regulations, as applicable to entities listed on the SME Platform of BSE Limited.
The Company is engaged in a single business segment, i.e., Engineering Services and accordingly, no separate segment reporting is applicable.
The results provide a true and fair view of the standalone financial performance and position of the Company for the Q4, H2, and financial year ended 31st March 2026.
2. Key Highlights and Performance
Quarter 4 (Q4) [January – March 2026]
The Company’s revenue for the quarter stood at ₹ 590.83
Lakhs. The Company reported a net profit of ₹ 84.90 Lakhs.
Half Year (H2) [October – March 2026]
Revenue for the half year stood at ₹ 1107.00 Lakhs, supported by increased execution and project scale-up.
Net profit for the period stood at ₹ 136.91 Lakhs.
Financial Year (FY 2025–26)
The Company’s revenue for the financial year increased to ₹ 2057.46 Lakhs compared to ₹ 1688.31 Lakhs in the previous year.
The Company reported a net profit of ₹ 242.64 Lakhs.
Performance Commentary
The growth in revenue is primarily driven by:
- Increased execution of projects and expansion of business operations
- Strengthening of delivery capabilities
Profitability during the year reflects:
- Increase in employee costs and manpower expansion
- Higher investment in technology and software infrastructure
- Transition phase following scaling of operations
3. Foreign Currency Exposure
The Company is exposed to foreign currency risk on account of revenue from overseas contracts and expenses/payments denominated in foreign currencies.
The exposure is managed through natural hedging and ongoing monitoring by management. The Company does not foresee any material adverse impact on account of foreign exchange fluctuations.
4. Initial Public Offer (IPO) Fund Proceeds
The Company completed its Initial Public Offer (IPO) during the year and raised ₹ 2,724.12 Lakhs, with net proceeds of ₹ 2,446.29 Lakhs.
Shares were listed on the SME Platform of BSE Limited.
5. Utilisation of IPO Proceeds
| Gross Issue | 2724 | |||
|---|---|---|---|---|
| Less: Issue Expenses | 278 | |||
| Net Issue | 2446 | |||
| Description | Allocated Cost (Rs. in lakhs) | Revised Cost (Rs. in lakhs) | Utilised as on 31-12-2025 (Rs. in lakhs) | Balance as on 31-03-2026 (Rs. in lakhs) |
| Funding of Capital expenditure towards purchase of additional office premises at Pune, Maharashtra | 895 | 395 | - | 395 |
| Funding of capital expenditure | 244 | 244 | 244 | - |
| requirements towards Purchase of computers, laptops, other related accessories and Purchase of software | ||||
|---|---|---|---|---|
| Hiring of Manpower in our Company | 418 | 418 | 31 | 387 |
| Investment in subsidiary for hiring Manpower in Telge Projects Inc | 486 | 486 | - | 486 |
| General corporate purposes | 404 | 404 | 404 | - |
| Acquisitions and other strategic initiatives directly or through its subsidiaries* | - | 500 | - | 500 |
| Total | 2446 | 2446 | 679 | 1767 |
*The company has approved for the deviation in the utilisation of funds raised through IPO proceeds by way of Postal Ballot which was approved on 21st March 2026.
6. Other Disclosures
The standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors.
The Statutory Auditors have carried out the audit of the standalone financial results.
Previous period figures have been regrouped or reclassified, where necessary, to conform to the current period's presentation.
Investments in subsidiaries and step-down subsidiaries are accounted for at cost in the standalone financial statements.
The Standalone financial results include the results for the half year ended March 31, 2026 and Quarter ended March 2026 being the balancing figures between the audited figures of the full financial year and the unaudited year to date figures up to the H1 and Q3 year of the current financial year.
The financial results are available on the Company's website: www.telgeprojects.com
These standalone results are prepared and published in accordance with Regulation 33 of SEBI (LODR) Regulations, as applicable to companies listed on SME platforms
CA INDIA
R M Rajapurkar & Co. CHARTERED ACCOUNTANTS
www.rmrajapurkar.com
020-27651074 / 27651075
INDEPENDENT AUDITOR'S REPORT ON CONSOLIDATED FINANCIAL RESULTS OF TELGE PROJECTS LIMITED FOR THE HALF YEAR AND YEAR ENDED MARCH 31, 2026 PURSUANT TO THE REGULATION 33 OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015
To,
The Board of Directors,
TELGE PROJECTS LIMITED
Opinion
We have audited the accompanying statement of Consolidated Financial Results ("the Statement") of Telge Projects Limited (hereinafter referred to as "Holding Company") CIN L29256PN2018PLC174381 and having its registered office at Unit No. 502A, 5th Floor, Om Chambers, Bhosari, Pune, 411026, & its subsidiary (holding company and its subsidiaries together referred to as "Group") for the Half year and year ended March 31, 2026, attached herewith, being submitted by the Group pursuant to the requirement of Regulation 33 of the SEBI (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 year to date Consolidated annual financial results:
(i) Includes the financial results of following entity:
| Name of Entity | Relationship | % of holding |
|---|---|---|
| Telge Project Inc. | ||
| (Incorporated in United States of America) | Subsidiary | 90.86% |
| DRAFTCO Inc. | ||
| (Incorporated in United States of America) | Wholly Owned Subsidiary of “Telge Project Inc.” | 100% |
| Midwest Detailing LLC | ||
| (Incorporated in United States of America) | Wholly Owned Subsidiary of “Telge Project Inc.” | 100% |
| Ed FAR Arch. | ||
| (Incorporated in United States of America) | Wholly Owned Subsidiary of “Telge Project Inc.” | 100% |
Office : "The Barcelona", Plot No. 311, Sector No. 28
Near Ganga Nagar Bus Stop, Pradhikaran, Nigdi, Pune - 411044
Residence : Plot No. 377, Sector 24, Lokmanya Tilak Road
Pradhikaran, Nigdi, Pune - 411044
(ii) are presented in accordance with the requirements of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended in this regard; and;
(iii) give a true and fair view in conformity with the aforesaid Accounting Standards and other accounting principles generally accepted in India of the net profit and other financial information of the Group for the year ended March 31, 2026.
Basis of Opinion
We conducted our audit in accordance with the Standards on Auditing ("SAs") specified under section 143(10) of the Companies Act, 2013 ("the Act"). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Consolidated Financial Results section of our report. We are independent of the Group in accordance with the code of ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the Consolidated financial results 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 Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion on the Consolidated financial results.
Management's and Board of Directors' Responsibilities for the Consolidated Financial Results
These Consolidated financial results have been prepared on the basis of the Consolidated financial statements.
The Board of Directors & Management of Holding Company are responsible for the preparation and presentation of these Consolidated financial results that give a true and fair view of the net profit/loss and other financial information in accordance with measurement principles laid down in 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 Listing Regulations. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act; safeguarding of the assets of the Group 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 financial results that give a true and fair view and are free from material misstatement, whether due to fraud or error.
P
In preparing the Consolidated financial results, the respective Board of Directors of the companies included in the group are responsible for assessing the Group's ability 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 Group or to cease operations, or has no realistic alternative but to do so.
The respective Board of Directors of the companies included in the group are responsible for overseeing the Group's financial reporting process.
Auditor's Responsibilities for the Audit of the Consolidated Financial Results
Our objectives are to obtain reasonable assurance about whether the Consolidated financial results as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's 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 Consolidated 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 Consolidated 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 Companies Act, 2013, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls system 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 made by the Management and Board of Directors.
-
Conclude on the appropriateness of Management 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 Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statement 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 auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
-
Evaluate the overall presentation, structure and content of the financial statement, including the disclosures, and whether the financial results represent the underlying transactions and events in a manner that achieves fair presentation.
-
Perform procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations to the extent applicable.
-
Obtain sufficient appropriate audit evidence regarding the financial results/financial information of the entities within the Group to express an opinion on the consolidated Financial Results. We are responsible for the direction, supervision and performance of the audit of financial information of holding company of which we are the independent auditors. For the subsidiary company included in the consolidated Financial Results, which is audited by other auditor, such other auditor remains responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
Materiality is the magnitude of misstatements in the Consolidated Financial Results that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the Consolidated Financial Results may be influenced. We consider quantitative materiality and qualitative factors in (i) planning the scope of our audit work and in evaluating the results of our work; and (ii) to evaluate the effect of any identified misstatements in the Consolidated Financial Results.
We communicate with those charged with governance 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.
EQUAL HOUSING OPPORTUNITY
Form Reg. No. 108335W
Other Matter
The Consolidated financial results include the results for the half year & quarter ended on March 31, 2026 being the balancing figures between the audited figures of the full financial year and the unaudited year to date figures up to the 1st half year & quarter ended on December 31, 2026 of the current financial year.
For R. M. Rajapurkar & Co.
Chartered Accountants
Firm Registration No.: 108335W
R. M. Rajapurkar
CA Ravindra M. Rajapurkar
Partner
Membership No.: 040908
Place: Pune
Date: 18th May 2026
UDIN: 26040908HHSVJL1750
Regd. Office: Unit No. 502A, 5th floor, Om Chambers, Plot No. T-29,30,31, T Block, Bhosari, Pune-411026
CIN: L29256PN2018PLC174381
Website: telgeprojects.com
E-mail: [email protected]
Consolidated Audited Statement of Assets and Liabilities as at 31st March 2026
| Particulars | (₹ in lakhs) | |
|---|---|---|
| As at | ||
| 31st March 2026 | ||
| Audited | As at | |
| 31st March 2025 | ||
| Audited | ||
| I EQUITY AND LIABILITIES | ||
| 1 Shareholders funds | ||
| a) Share capital | 979.01 | 102.80 |
| b) Reserve and surplus | 3,206.83 | 1,050.98 |
| c) Non Controlling Interest | 97.85 | 64.83 |
| Total Shareholders funds | 4,283.69 | 1,218.61 |
| 2 Share application money pending allotment | - | - |
| 3 Non-current liabilities | ||
| a) Long-term borrowings | 574.48 | 617.83 |
| b) Deferred tax liabilities (Net) | 1.58 | (6.11) |
| c) Other Long term liabilities | - | - |
| d) Long-term provisions | 44.40 | 25.26 |
| Total Non-current liabilities | 620.46 | 636.98 |
| 4 Current liabilities | ||
| a) Short-term borrowings | 371.45 | 319.82 |
| b) Trade payables | - | - |
| i) total outstanding dues of msme | 19.13 | 4.54 |
| ii) total outstanding dues of other than msme | 396.20 | 208.19 |
| c) Other current liabilities | 289.18 | 95.08 |
| d) Short-term provisions | 91.14 | 70.20 |
| Total Current liabilities | 1,167.09 | 697.83 |
| Total Shareholders funds and liabilities | 6,071.24 | 2,553.42 |
II ASSETS
1 Non-current assets
| a) Property, plant and equipment and Intangible assets | ||
|---|---|---|
| i) Property, plant and equipment | 923.76 | 836.91 |
| ii) Intangible assets | 627.66 | 578.15 |
| iii) Capital work in progress | 129.35 | - |
| iv) Intangible assets under development | - | 2.81 |
| b) Non-current investments | - | - |
| c) Deferred tax assets (net) | - | - |
| d) Loans and advances | - | - |
| e) Other non-current assets | 14.17 | 8.97 |
| Total Non-current assets | 1,694.94 | 1,426.84 |
2 Current assets
| a) Current investments | - | - |
|---|---|---|
| b) Inventories | - | - |
| c) Trade receivables | 1,191.69 | 502.20 |
| d) Cash and cash equivalents | 2,249.24 | 152.49 |
| e) Short-term loans and advances | 63.18 | 2.70 |
| f) Other current assets | 872.19 | 469.19 |
| Total Current assets | 4,376.30 | 1,126.58 |
| Total Assets | 6,071.24 | 2,553.42 |
Bhosari, Pune
CIN: L29236P52018PLC174381
Website: telgeprojects.com E-mail: [email protected]
Statement for Consolidated Audited Financial results for the Quarter & Financial year ended on 31st March 2026
Statement of Profit and Loss
| Sr.No. | Particulars | Quarter Ended | Six Month ended | Year Ended | ||||
|---|---|---|---|---|---|---|---|---|
| 31st March 2026 | ||||||||
| Audited | 31st December 2025 | |||||||
| Unaudited | 31st March 2025 | |||||||
| Audited | 31st March 2026 | |||||||
| Audited | 30th September 2025 | |||||||
| Unaudited | 31st March 2026 | |||||||
| Audited | 31st March 2025 | |||||||
| Audited | ||||||||
| 1 | Income | |||||||
| a) Revenue from operations | ||||||||
| i) Sale of services | 1,438.76 | 908.24 | 1,265.41 | 2,347.00 | 1,674.04 | 4,021.03 | 2,561.17 | |
| b) Other Income | 11.40 | 41.83 | 48.29 | 53.23 | 0.15 | 53.38 | 54.47 | |
| Total income (a+b) | 1,450.15 | 950.07 | 1,313.61 | 2,400.22 | 1,674.19 | 4,074.41 | 2,615.64 | |
| 2 | Expenses | |||||||
| a) Employee benefit expenses | 577.73 | 458.90 | 295.57 | 1,036.65 | 775.24 | 1,811.89 | 895.64 | |
| b) Finance Costs | 26.46 | 26.22 | 73.26 | 52.68 | 28.34 | 81.02 | 131.48 | |
| c) Depreciation and amortization costs | 27.44 | 17.25 | 23.63 | 44.69 | 32.34 | 77.03 | 44.52 | |
| d) Software and subscription expenses | 82.64 | 83.89 | 109.73 | 168.53 | 110.79 | 279.33 | 190.27 | |
| e) Other expenses | 288.99 | 254.00 | 258.16 | 542.99 | 484.82 | 1,027.81 | 651.27 | |
| Total expenses (a to e) | 1,003.28 | 842.25 | 760.35 | 1,845.54 | 1,431.54 | 3,277.08 | 1,913.18 | |
| 3 | Profit/(Loss) before exceptional & extraordinary items and tax (1-2) | 446.87 | 107.81 | 553.26 | 554.68 | 242.65 | 797.33 | 702.46 |
| 4 | Exceptional & extraordinary items | |||||||
| 5 | Profit/(Loss) before Tax (3+4) | 446.87 | 107.81 | 553.26 | 554.68 | 242.65 | 797.33 | 702.46 |
| 6 | Tax expense | |||||||
| i) Current Tax | 89.69 | 27.25 | 115.62 | 116.94 | 45.28 | 162.22 | 158.22 | |
| ii) Deferred Tax | 5.78 | (2.11) | 12.25 | 3.67 | 4.01 | 7.69 | 2.51 | |
| Total Tax | 95.47 | 25.14 | 127.87 | 120.62 | 49.29 | 169.91 | 160.73 | |
| 7 | Profit/(Loss) for the period from continuing operations (5-6) | 351.39 | 82.67 | 425.39 | 434.06 | 193.36 | 627.42 | 541.73 |
| 8 | Minority Interest in Income/(Losses) | 22.21 | 2.80 | 17.55 | 25.01 | 8.01 | 33.02 | 19.61 |
| 9 | Net Profit/(Loss) for the period (7-8) | 329.19 | 79.87 | 407.84 | 409.05 | 185.35 | 594.41 | 522.12 |
| 10 | Paid-up Equity Share Capital | |||||||
| (Face value of $10 per equity share) | 979.01 | 979.01 | 102.80 | 102.80 | 102.80 | 979.01 | 102.80 | |
| 11 | Earning per share | |||||||
| a) Basic (in. $) | 3.36 | 0.82 | 39.96 | 5.95 | 18.36 | 7.00 | 51.59 | |
| b) Diluted (in. $) | 3.36 | 0.82 | 39.96 | 5.95 | 18.36 | 7.00 | 51.59 | |
| 12 | Weighted average Equity Shares used in computing EPS (in actuals) | 97,90,148 | 97,90,148 | 10,20,669 | 68,69,420 | 10,09,321 | 84,89,394 | 10,13,028 |
Statement for Consolidated Audited Cash Flow Statement for the year ended on 31st March 2026
(₹ in lakhs)
| r.No. Particulars | Year Ended | ||
|---|---|---|---|
| 31st March 2026 | |||
| Audited | 31st March 2025 | ||
| Audited | |||
| I | Cash flow from operating activities | ||
| Profit before tax | 797.33 | 702.46 | |
| Adjustments to reconcile profit before tax to net cash flows | |||
| Depreciation | 77.03 | 44.64 | |
| Finance cost | 81.02 | 127.46 | |
| Foreign exchange gain/loss on other operating transactions | 52.34 | (2.79) | |
| Sundry balances written back | 0.00 | 37.41 | |
| Profit on sale of assets | 3.64 | (42.22) | |
| Interest income | (43.59) | (1.42) | |
| Profit on sale of investments | (9.79) | 0.00 | |
| Operating Cash flow before working capital changes | 957.97 | 865.55 | |
| Working capital adjustments | |||
| Decrease/(Increase) in Trade Receivables | (689.49) | (255.63) | |
| Decrease/(Increase) in Short Term Loans & Advances | (60.48) | (2.52) | |
| Decrease/(Increase) in other current assets | (349.99) | (279.30) | |
| Decrease/(Increase) in Inventories | 0.00 | 0.00 | |
| (Decrease)/Increase in Trade Payables | 202.60 | 139.04 | |
| (Decrease)/Increase in Current Liabilities | 194.09 | 36.90 | |
| (Decrease)/Increase in Short/ Long Term Provisions | 21.03 | (10.83) | |
| Total Working capital adjustments | (682.24) | (372.34) | |
| Taxes paid | 196.18 | 173.66 | |
| Net Cash Flow from operating activities | 79.56 | 319.55 | |
| II | Cash flow from investing activities | ||
| (Increase) / Decrease in Capital Expenditure | (343.57) | (932.89) | |
| (Increase)/ Decrease in Investments | 0.00 | - | |
| (Increase)/ Decrease in Current Investments | 9.79 | 0.00 | |
| (Increase) / Decrease in Long term loans & advances | 0.00 | - | |
| Interest Income | 43.59 | 1.42 | |
| Proceeds from / (Additional investment in) Non Current deposits | (5.20) | - | |
| Net Cash flow from investing activities | (295.39) | (931.47) | |
| III | Cash flow from financing activities | ||
| Proceeds from Share Capital | 2385.32 | 171.65 | |
| Proceeds from / (Repayment of ) Short Term Borrowings | 51.63 | 220.34 | |
| Proceeds from / (Repayment of ) Long Term Borrowings | (43.35) | 394.09 | |
| Finance Cost | (81.02) | (69.74) | |
| Net Cash flow from financing activity | 2312.58 | 716.34 | |
| IV | Net increase/(decrease) in cash and cash equivalents (I+II+III) | 2096.74 | 104.41 |
| V | Cash and Cash Equivalents At the beginning of the year | 152.49 | 48.08 |
| VI | Cash and Cash Equivalents At the end of the year (IV+V) | 2249.24 | 152.49 |
Notes – Consolidated Financial Statements
1. Overview
The audited consolidated financial statements comprise the financial statements of the Company, its subsidiaries, and associates, collectively referred to as the Group for the 4th quarter (Q4), Half year (H2) and financial year ended 31st March 2026.
These statements have been prepared in accordance with the Accounting Standards prescribed under Section 133 of the Companies Act, 2013, and the SEBI (LODR) Regulations, as applicable to SMEs.
The results present a true and fair view of the consolidated financial position and performance of the Group for Q4, H2, and financial year ended 31st March 2026.
2. Entities Included
The consolidation includes the parent company, its subsidiary companies, and step-down subsidiaries as listed below:
- Telge Projects INC, USA : Subsidiary Company
- Midwest Detailing LLC, USA : Step Down Subsidiary
- DraftCo INC, USA : Step Down Subsidiary
- Edward Farr Architects Inc, USA* : Step Down Subsidiary
Investments in subsidiaries, step-down subsidiaries, and associates are accounted for at cost in the standalone financial statements.
*Acquisition of Edward Farr Architects Inc. (USA)
On 3 March 2026, the Group completed the acquisition of a step-down subsidiary, Edward Farr Architects Inc., USA.
Edward Farr Architects Inc. is engaged in architectural design and related services in the United States. The acquisition has been accounted for in accordance with applicable accounting standards on business combinations.
The results of Edward Farr Architects Inc. have been consolidated in the financial statements of the Group from the date of acquisition, i.e., 3rd March 2026.
The acquisition strengthens the Group's presence in the international market and enhances its capabilities in architectural and design services.
- Key Highlights and Performance
Quarter 4 (Q4)
- Revenue from operations stood at ₹ 1438.76 lakhs
- Net profit for the quarter was ₹ 329.19 lakhs
Half Year (H2)
- Revenue from operations stood at ₹ 2347 lakhs
- Net profit for the period stood at ₹ 409.05 lakhs
Financial Year 2025-26
- Revenue from operations increased to ₹ 4021.03 lakhs from ₹ 2,561.17 lakhs in FY 2024–25, reflecting strong business momentum
- Net profit for the year stood at ₹ 594.41 lakhs, largely stable compared to ₹ 522.12 lakhs in the previous year
- The Company maintained profitability despite increased investments in scaling operations, manpower, and technology.
- Other Disclosures
- The consolidated results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 18th May 2026.
- The Statutory Auditors have carried out the audit of the annual consolidated financial statements.
- Previous period figures have been regrouped or reclassified, where necessary, to align with current period presentation.
- The Company operates in a single segment, i.e., Structural Engineering Services, and accordingly, no separate segment reporting is applicable.
- The Consolidated financial results include the results for the half year ended March 31, 2026 and Quarter ended March 2026 being the balancing figures between the audited figures of the full financial year and the unaudited year to date figures up to the H1 and Q3 year of the current financial year.
- The financial results are available on the Company's website: www.telgeprojects.com
- These consolidated results are prepared and published in accordance with Regulation 33 of SEBI (LODR) Regulations applicable to SME listed entities.
SEMI-PROFITS LODGES
Office of
A
Telge® Projects
Annexure B
Date: 18/05/2026
To,
The Listing Manager
BSE Limited,
Phiroze Jeejebhoy Towers, Dalal Street,
Mumbai- 400 001
Ref.: Scrip Code: 544544 | ISIN: INE0SRP01014 | Symbol: TELGE
Sub: Declaration in terms of Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Dear Sir,
In terms of third proviso to Regulation 33(3)(d) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, I hereby confirm that the Statutory Auditor of the Company have given and Unmodified Opinion on the Audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2026.
Thanking you,
Yours faithfully,
For Telge Projects Limited
Shraddha Shailesh Telge
Digitally signed by
Shraddha Shailesh
Telge
Date: 2026.05.18
20:11:20 +05'30'
Shraddha Shailesh Telge
Managing Director and Chief Executive Officer
Telge Projects Limited
(formerly known as Telge Projects Private Limited)
OFFICE ADDRESS
OM Chambers IT Park, Office No. 502(A), T. 29/31, Telco Road, Bhosari, Pune 411026, Maharashtra, INDIA
EMAIL
[email protected]
PHONE
+91 7887882012
WEBSITE: WWW.TELGEPROJECTS.COM
CIN: L29256PN2018PLC174381
PAN NO: AAGCT5848L
GST NO: 27AAGCT5848L1ZO
Annexure C.
The Details required under Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirement) Regulation, 2015 read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, as provided below:
| Sr. No | Particulars | Details |
|---|---|---|
| 1. | Name | Mr. Vinayak Sahebrao Mane |
| 2. | Reason for change viz. Appointment, Reappointment; resignation, removal, death or otherwise; | Reappointment as Internal Auditor to comply with the provisions of Section 138 of the Companies Act, 2013 read with Rule 13 of the Companies (Accounts) Rules & Rule 8 of the Companies (Meetings of Board and its Powers) Rules, 2014 |
| 3. | Date of Appointment / Reappointment / cessation & Terms of appointment / Reappointment | Mr. Vinayak Sahebrao Mane has been re-appointed by the Board of Directors of the Company on May 18, 2026, based on the recommendation of the Audit Committee, for the Financial Year 2026-27. |
| 4. | Term of re-appointment | Re-appointment as Internal Auditor of the company for the Financial Year 2026-27 |
| 5. | Brief profile | Mr. Vinayak Sahebrao Mane completed MBA in Financial Management from Savitribai Phule Pune University in 2016 and has also completed the Common Proficiency Test (CPT) conducted by the Institute of Chartered Accountants of India in 2012. He possesses over 11 years of extensive experience in the field of accounts and finance. |
| 6. | Disclosure of relationships between Directors (in case of Appointment of a Director) | Not Applicable |
| 7. | Relation with the Company | Mr. Vinayak Sahebrao Mane is associated with the Company in the capacity of Chief Financial Officer (CFO). |
Telge Projects Limited
(formerly known as Telge Projects Private Limited)
OFFICE ADDRESS
OM Chambers IT Park, Office No. 502(A), T. 29/31, Telco
Road, Bhosari, Pune 411026, Maharashtra, INDIA
PHONE
+91 7887882012
WEBSITE: WWW.TELGEPROJECTS.COM
PAN NO: AAGCT5848L
GST NO: 27AAGCT5848L1ZO
Annexure D
The Details required under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026.
| Sr. No. | Details of Information required to be provided | Details |
|---|---|---|
| 1. | Name of the Audit firm / Auditor | KPN & Associates, Company Secretaries |
| 2. | Reason for change viz. Appointment, Reappointment, resignation, removal, death or otherwise; | KPN & Associates is re-appointed as the Secretarial Auditor of the Company. |
| 3. | Date of Appointment / Reappointment / cessation & Terms of appointment / Re-appointment | KPN & Associates, Company Secretaries, are re-appointed by the Board of Directors of the Company on May 18, 2026, based on the recommendation of the Audit Committee, for the Financial Year 2026-27. |
| 4. | Brief Profile | KPN & Associates is a renowned firm of Practising Company Secretaries registered with the Institute of Company Secretaries of India (Peer Review Certificate No. 4544/2023) with over 11 years of professional experience in corporate governance, compliance and advisory services. Their areas of expertise include Company law and secretarial practice, SEBI compliances, capital market, compliance audit, secretarial audit and corporate and organisational planning. |
| 5. | Disclosure of relationships between directors (in case of appointment of a director). | Not Applicable |
PHONE