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VTM Ltd Interim / Quarterly Report 2026
60711_rns_2026-05-22_f456b67c-5dd7-4c92-922d-aff9b331d831.pdf
Interim / Quarterly Report
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ESTD 1946
VTM LTD
VTM :CS:/Qtr 4
22.05.2026
Corporate Relationship Dept. – CRD
Bombay Stock Exchange Limited (BSE)
Regd. Office: Floor 25, PJ Towers,
Dalal Street,
MUMBAI – 400 001.
Dear Sir/s,
Sub: Audited Financial Results for the Quarter, and Year ended 31.03.2026 - reg.
We enclose the Audited results as per SEBI Circular No.CIR/CFD/FAC/ 62/2016 dated 6th July 2016. Also the Company has opted to submit unaudited/audited standalone financial results from the quarter ended 30th June 2017 onwards. We enclose herein Ind-AS compliant Audited financial results for the Quarter & year ended 31.03.2026 As already intimated we hereby inform you that the Company shall submit standalone financial results for the quarters ending on and after 30th June, 2017 as per above circular.
We also wish to inform you that as per the exchange circular dated March 30, 2017, filings for Financial Results (Regulation 33 / Regulation 52) in XBRL mode will be made within 24 hours of submission of results in PDF mode through CAFS.
Sir, Kindly also note that the Company Does Not have any Subsidiary.
A Copy of audited financial results for the quarter and year ended 31st March, 2026 along with Independent Auditor’s Report, is enclosed.
The Meeting commenced at 04.30 PM and concluded at 06.40 PM.
This is for your kind information please.
Thanking you,
Yours Truly,
For VTM LIMITED
K. PREYATHARSHINE
Company Secretary
M.No: A58314
Chairman’s Office: Thiagarajar Mills Premises, KAPPALUR - 625 008, Madurai, India.
Regd. Office: SULAKARAI, Virudhunagar - 626 003.
CIN No. : L17111TN1946PLC003270
GST No. : 33AAACV3775E1ZG
PAN No. : AAACV3775E
Phone : 91-452-2482595 (4 lines) / 2487449
: 73977 33144, 73977 33145
Fax : 91-452-2486085
E-mail : [email protected]
: [email protected]
Web : www.vtmill.com
VTM :CS:/Qtr 1
ESTD 1946
VTM LTD 22.05.2026
Corporate Relationship Dept. – CRD
Bombay Stock Exchange Limited (BSE)
Regd. Office: Floor 25, PJ Towers,
Dalal Street,
MUMBAI – 400 001.
Dear Sir/s,
Sub: Outcome of Board meeting - Audited Financial Results for the Quarter,& Year ended 31.03.2026 - reg.
We enclose the Audited results as per SEBI Circular No.CIR/CFD/FAC/ 62/2016 dated 6th July 2016. Also the Company has opted to submit unaudited/audited standalone financial results from the quarter ended 30th June 2017 onwards. We enclose herein Ind-AS compliant Audited financial results for the Quarter & year ended 31.03.2026 As already intimated we hereby inform you that the Company shall submit standalone financial results for the quarters ending on and after 30th June, 2017 as per above circular.
We also wish to inform you that as per the exchange circular dated March 30, 2017, filings for Financial Results (Regulation 33 / Regulation 52) in XBRL mode will be made within 24 hours of submission of results in PDF mode through CAFS.
Sir, Kindly also note that the Company Does Not have any Subsidiary.
A Copy of audited financial results for the quarter and year ended 31st March, 2026 along with Independent Auditor’s Report, is enclosed.
The Meeting commenced at 04.30 PM and concluded at 06.40 PM.
This is for your kind information please.
Thanking you,
Yours Truly,
Chairman’s Office: Thiagarajar Mills Premises, KAPPALUR - 625 008, Madurai, India.
Regd. Office: SULAKARAI, Virudhunagar - 626 003.
CIN No. : L17111TN1946PLC003270
GST No. : 33AAACV3775E1ZG
PAN No. : AAACV3775E
Phone : 91-452-2482595 (4 lines) / 2487449
: 73977 33144, 73977 33145
Fax : 91-452-2486085
E-mail : [email protected]
: [email protected]
Web : www.vtmill.com
ESTD 1946
VTM LTD
Ref: VTM :CS: Q4/26
22.05.2026
Corporate Relationship Dept. – CRD
Bombay Stock Exchange Limited (BSE)
Regd. Office: Floor 25, PJ Towers,
Dalal Street,
MUMBAI – 400 001.
Dear Sirs,
Sub: Declaration with respect to Auditor’s report with unmodified opinion to the standalone Audited Financial Results for the Quarter ended 31.3.2026 - reg.
Pursuant to Regulation 33(3)(d) of SEBI (LODR) Regulations 2015 we do hereby confirm that the Statutory auditors of the Company M/s. CNGSN & Associates LLP, Chartered Accountants, (ICAI Firm Regn. No.004915S /S200036) have not expressed any modified opinion in Standalone Financial results of company for the Quarter and Year ended 31.3.2026.
Thanking you,
Yours faithfully,
For VTM LIMITED
K. PREYATHARSHINE
Company Secretary
M.No: A58314
Chairman’s Office: Thiagarajar Mills Premises, KAPPALUR - 625 008, Madurai, India.
Regd. Office: SULAKARAI, Virudhunagar - 626 003.
CIN No. : L17111TN1946PLC003270
GST No. : 33AAACV3775E1ZG
PAN No. : AAACV3775E
Phone : 91-452-2482595 (4 lines) / 2487449
: 73977 33144, 73977 33145
Fax : 91-452-2486085
E-mail : [email protected]
: [email protected]
Web : www.vtmill.com
VTM Limited
Regd. Office: Sulakarai, Virudhunagar
CIN: L17111TN1946PLC033270, Website: www.vtmill.com
Statement of Audited Financial Results for the quarter and year ended March 31, 2026
(in INR Lakhs)
| S. No | Particulars | Quarter ended | Year ended | |||
|---|---|---|---|---|---|---|
| March 31, 2026 | ||||||
| (Audited) | December 31, 2025 | |||||
| (Unaudited) | March 31, 2025 | |||||
| (Audited) | March 31, 2026 | |||||
| (Audited) | March 31, 2025 | |||||
| (Audited) | ||||||
| 1 | Income from Operations | |||||
| (a) Net Sales/ Income from operations | 11,016.68 | 9,995.15 | 10,869.40 | 37,198.13 | 34,452.68 | |
| (b) Other Income (Net) | 26.55 | 111.21 | 89.65 | 340.63 | 482.51 | |
| 3 | Total Income (1+2) | 11,043.23 | 10,106.36 | 10,959.05 | 37,538.96 | 34,935.19 |
| 4 | Expenses | |||||
| a) Cost of materials consumed | 7,284.40 | 6,306.65 | 5,152.31 | 25,377.55 | 22,016.89 | |
| b) Changes in inventories of finished goods, work in progress and stock in trade | (296.35) | 121.97 | 947.12 | (1,993.27) | (3,133.41) | |
| c) Employees benefits expense | 763.81 | 669.99 | 574.23 | 2,662.79 | 2,087.27 | |
| d) Finance Cost | 58.08 | 42.17 | 99.44 | 179.55 | 179.90 | |
| e) Depreciation and amortisation expense | 286.68 | 284.20 | 250.08 | 1,134.94 | 942.36 | |
| f) Other expenses | 2,535.80 | 2,194.15 | 2,349.82 | 8,378.69 | 6,790.63 | |
| Total Expenses | 10,633.42 | 9,619.13 | 9,373.00 | 35,740.25 | 28,883.64 | |
| 5 | Profit before exceptional items and tax (3-4) | 409.81 | 487.23 | 1,586.05 | 1,798.71 | 6,051.55 |
| 6 | Exceptional items (refer note 5) | (277.13) | (25.19) | - | (302.32) | - |
| 7 | Profit before tax (5+6) | 132.68 | 462.04 | 1,586.05 | 1,496.39 | 6,051.55 |
| 8 | Tax expense | |||||
| Current tax | (9.22) | 171.45 | 355.21 | 376.35 | 1,551.62 | |
| Tax adjustments based on assessments received | 17.04 | 2.18 | (17.52) | 19.22 | (17.52) | |
| Deferred tax | 35.21 | (49.13) | 31.17 | (19.06) | (19.56) | |
| Total Tax Expenses | 43.03 | 124.50 | 368.86 | 376.51 | 1,514.14 | |
| 9 | Net profit for the period (7-8) | 89.65 | 337.54 | 1,217.19 | 1,119.88 | 4,537.41 |
| 10 | Other comprehensive income, net of income tax | |||||
| a) (i) items that will not be reclassified to profit or loss | 163.88 | 121.79 | 98.61 | 576.77 | 411.93 | |
| (ii) income tax (charge)/ reversal relating to items that will not be reclassified to profit or loss | (21.28) | (21.75) | (169.31) | (85.73) | (205.74) | |
| b) (i) items that will be reclassified to profit or loss | - | - | - | - | - | |
| (ii) income tax (charge)/ reversal relating to items that will be reclassified to profit or loss | - | - | - | - | - | |
| Total other comprehensive income, net of income tax | 142.60 | 100.04 | (70.70) | 491.04 | 286.19 | |
| 11 | Total comprehensive income for the period (9+10) | 232.25 | 437.58 | 1,146.49 | 1,610.92 | 4,743.60 |
| 12 | Paid-up equity share capital | 1,005.69 | 1,005.69 | 402.28 | 1,005.69 | 402.28 |
| Face value per share (Rs.) | 1.00 | 1.00 | 1.00 | 1.00 | 1.00 | |
| 13 | Reserves (excluding Revaluation Reserve) | NA | NA | NA | 30,493.39 | 30,240.15 |
| 14 | Earning per share (Rs.) (not annualised) - refer note 6 below | |||||
| - Basic | 0.09 | 0.34 | 1.21 | 1.11 | 4.51 | |
| - Diluted | 0.09 | 0.34 | 1.21 | 1.11 | 4.51 |
Explanatory Notes to the Statement of Audited Financial Results for the quarter and year ended March 31, 2026
-
The above results for the quarter and year ended March 31, 2026 as reviewed and recommended by the Audit committee of the Board has been approved by the Board of Directors at its meeting held on May 22, 2026. The Statutory Auditors of the Company have expressed an unmodified audit opinion on the above results.
-
These results have been prepared in accordance with the Indian Accounting Standard 2015 (referred to as "Ind AS") 34 Interim Financial Reporting prescribed under Section 133 of the Companies Act, 2013 read with Companies (Indian Accounting Standards) Rules as amended from time to time.
-
The format for audited quarterly results as prescribed in SEBI's Circular CIR/CFO/CMD/15/2015 dated November 30, 2015 has been modified to comply with the requirements of SEBI's circular dated July 5, 2016, Ind AS and Schedule III (Part II) to the Companies Act, 2013, which are applicable to companies that are required to
-
Pursuant to the increase of US Tariff on India by the United States of America (USA), additional discounts aggregating to INR 391.76 Lakhs, INR 1,370.40 Lakhs and INR 235.24 Lakhs respectively have been given to the customers in USA to mitigate the tariff burden for the quarters ended September 30, 2025, December 31, 2025 and March 31, 2026, thus aggregating to INR 1,997.40 Lakhs for the year ended March 31, 2026. This has directly impacted the revenue from operations and the profits before tax for respective periods and the year to date profits of the current year.
SURGERY & ASSOCIATION
E·I·D
CENTRAL INVESTMENT ACCOUNTANTS
5 Exceptional items include (a) incremental provision for gratuity in accordance with the new labour codes amounting to INR 22.57 Lakhs and INR 25.19 Lakhs and INR 47.76 Lakhs respectively for the quarters ended December 31, 2025, March 31, 2026 and for the year ended March 31, 2026; (b) the abnormal effect of changes in forex rates amounting to INR 254.56 Lakhs for the quarter and year ended March 31, 2026.
6 The weighted average number of shares outstanding considered for the calculation of basic and diluted earnings per share for all prior periods presented have been restated for the effect of bonus shares issued during the quarter ended June 30, 2025 as required by Ind AS 33.
7 The Company is engaged in the business of "manufacturing of textile" and therefore, has only one reportable segment in accordance with Ind AS 108 "Operating
8 The figures for quarter ended March 31, 2026 represents the balancing figure between the audited results for the year ended March 31, 2026 and unaudited figures for the nine months ended December 31, 2025.
9 Statement of Assets and Liabilities
(In INR Lakhs)
| Particulars | Year ended | |
|---|---|---|
| March 31, 2026 | ||
| (Audited) | March 31, 2025 | |
| (Audited) | ||
| Assets | ||
| Non-current assets | ||
| Property, plant and equipment | 12,167.78 | 10,723.90 |
| Capital work in progress | 52.13 | 209.92 |
| Intangible assets under development | 179.76 | - |
| Right of use asset | 108.88 | 116.12 |
| Financial assets | ||
| Investments | 5,077.15 | 4,503.66 |
| Loans | 305.27 | 305.27 |
| Other financial assets | 214.05 | 194.62 |
| Other non current assets | 1,419.91 | 329.25 |
| Total non-current assets | 19,525.93 | 16,383.74 |
| Current assets | ||
| Inventories | 15,201.49 | 9,561.45 |
| Financial assets | ||
| Investments | 2,120.99 | 2,185.09 |
| Trade receivables | 5,114.53 | 7,378.87 |
| Cash and cash equivalents | 299.71 | 259.97 |
| Bank balances other than above | 88.83 | 75.89 |
| Loans and advances | 1,813.33 | 2,218.17 |
| Other current assets | 159.00 | 197.39 |
| Current tax assets (net) | 484.94 | - |
| Total current assets | 25,282.82 | 21,876.83 |
| Total - Assets | 44,808.75 | 38,260.57 |
| EQUITY AND LIABILITIES | ||
| Equity | ||
| Equity share capital | 1,005.69 | 402.28 |
| Other equity | 30,493.39 | 30,240.15 |
| Total equity | 31,499.08 | 30,642.43 |
| Liabilities | ||
| Non-current liabilities | ||
| Financial liabilities | ||
| Borrowings | 1,060.31 | - |
| Lease Liability | 1.40 | 9.32 |
| Other financial liabilities | 5.33 | 4.83 |
| Deferred Tax Liabilities (net) | 1,206.61 | 1,139.94 |
| Long Term Provisions | 189.87 | 138.29 |
| Other non current liabilities | 73.32 | 75.77 |
| Total non-current liabilities | 2,536.84 | 1,368.15 |
| Current liabilities | ||
| Financial liabilities | ||
| Borrowings | 6,423.34 | 4,079.61 |
| Lease Liability | 7.92 | 7.17 |
| Trade payables | ||
| (a) Total outstanding dues of micro enterprises and small enterprises | 279.74 | 210.77 |
| (b) Total outstanding dues of creditors other than micro enterprises and small enterprises | 3,379.79 | 1,194.39 |
| Other financial liabilities | 2.28 | 2.28 |
| Other current liabilities | 654.72 | 704.50 |
| Current tax liabilities (net) | - | 51.27 |
| Provisions | 25.04 | - |
| Total current liabilities | 10,772.83 | 6,249.99 |
| Total - Equity and Liabilities | 44,808.75 | 38,260.57 |
ASSOCIATED ACCOUNTANTLY
CHENNAI
10 Statement of Cash Flows
(in INR Lakhs)
| Particulars | Year ended | |
|---|---|---|
| March 31, 2026 | ||
| (Audited) | March 31, 2025 | |
| (Audited) | ||
| Cash flow from Operating Activities | ||
| Profit before income tax | 1,496.39 | 6,051.55 |
| Adjustments for | ||
| Depreciation and amortisation expense | 1,134.94 | 942.36 |
| (Profit)/ Loss on sale of property, plant and equipment | (21.86) | (21.97) |
| (Profit)/ Loss on sale of investment | (13.30) | (98.80) |
| Finance costs | 179.55 | 179.90 |
| Fair value changes of investments credited to profit and loss | (92.02) | (125.52) |
| Interest income | (26.72) | (13.00) |
| Dividend income | (81.71) | (146.28) |
| Unrealised foreign exchange (gain)/ loss on borrowings | 254.56 | - |
| Allowance on expected credit loss | (1.01) | 2.13 |
| 2,828.82 | 6,770.37 | |
| Change in operating assets and liabilities | ||
| (Increase)/ decrease in loans and advances | 395.72 | (736.38) |
| (Increase)/ decrease in other financial assets | (19.43) | (11.71) |
| (Increase)/ decrease in other assets | (1,052.27) | (149.95) |
| (Increase)/ decrease in inventories | (5,640.04) | (3,716.25) |
| (Increase)/ decrease in trade receivables | 2,274.48 | (4,883.76) |
| Increase/ (decrease) in provisions and other liabilities | 20.99 | 346.07 |
| Increase/ (decrease) in trade payables | 2,254.37 | (229.05) |
| Cash generated from operations | 1,062.64 | (2,610.66) |
| Less: Income taxes paid (net of refunds) | (931.78) | (1,145.05) |
| Net cash from operating activities (A) | 130.86 | (3,755.71) |
| Cash flows from Investing Activities | ||
| Purchase of PPE (including changes in CWIP) | (2,609.22) | (2,177.83) |
| Sale proceeds of PPE (including changes in CWIP) | 37.53 | 57.24 |
| (Purchase)/ disposal proceeds of Investments (current) | 169.42 | 2,758.43 |
| (Investments in)/ Maturity of fixed deposits with banks | (12.94) | 2.08 |
| Dividend income | 81.71 | 146.28 |
| Interest income | 26.72 | 13.00 |
| Net cash from/ (used in) investing activities (B) | (2,386.78) | 799.20 |
| Cash flows from Financing Activities | ||
| Proceeds from/ (repayment of) long term borrowings (net) | 1,014.41 | (138.63) |
| Proceeds from/ (repayment of) short term borrowings (net) | 2,134.76 | 3,854.82 |
| Finance costs | (179.24) | (179.90) |
| Dividend paid | (754.27) | (402.28) |
| Net cash from/ (used in) financing activities (C) | 2,215.66 | 3,134.01 |
| Net decrease in cash and cash equivalents (A+B+C) | 39.74 | 177.50 |
| Cash and cash equivalents at the beginning of the financial year | 259.97 | 82.47 |
| Cash and cash equivalents at end of the year | 299.71 | 259.97 |
11 Textile Industry being seasonal in nature, the Quarterly results cannot be taken as an indicator of the full year's working results.
12 In the board meeting held on January 14, 2026, the Board of Directors have approved the Company's proposal to list its equity shares on the National Stock Exchange of India Limited (NSE). The Company is in the process of complying with the required procedures for the same.
13 Previous period figures have been regrouped/ reclassified, where necessary.
Place: Kappalur
Date: May 22, 2026
for VTM Limited
K. Thiagarajan
Chairman and Managing Director
Initialled for identification purposes
VTM Limited
Regd. Office: Sulakarai, Virudhunagar
CIN: L17111TN1946PLC003270, Website: www.vtmill.com
Statement of Audited Financial Results for the quarter and year ended March 31, 2026
(in INR Lakhs)
| S. No | Particulars | Quarter ended March 31, 2026 (Audited) | Quarter ended December 31, 2025 (Unaudited) | Corresponding quarter of previous year ended March 31, 2026 (Audited) | Year ended March 31, 2026 (Audited) | Year ended March 31, 2025 (Audited) |
|---|---|---|---|---|---|---|
| 1 | Total Income from Operations | 11,043.23 | 10,106.36 | 10,959.05 | 37,538.96 | 34,935.19 |
| 2 | Net Profit/(Loss) for the period (before tax and exceptional items) | 409.81 | 487.23 | 1,586.05 | 1,798.71 | 6,051.55 |
| 3 | Net Profit/(Loss) for the period before tax (after exceptional items) | 132.68 | 462.04 | 1,586.05 | 1,496.39 | 6,051.55 |
| 4 | Net Profit/(Loss) for the period after tax (after exceptional items) | 89.65 | 337.54 | 1,217.19 | 1,119.88 | 4,537.41 |
| 5 | Other comprehensive income (net of tax) | 142.60 | 100.04 | (70.70) | 491.04 | 206.19 |
| 6 | Total Comprehensive Income for the period [Comprising Profit/(Loss) for the period (after tax) and Other Comprehensive Income (after tax)] | 232.25 | 437.58 | 1,146.49 | 1,610.92 | 4,743.60 |
| 7 | Equity Share Capital | 1,005.69 | 1,005.69 | 402.28 | 1,005.69 | 402.28 |
| 8 | Reserves (excluding Revaluation Reserve) as shown in the Audited Balance Sheet of the previous year | NA | NA | NA | 30,493.39 | 30,240.15 |
| 9 | Earnings Per Share (of Rs.1/- each) (not annualised) | |||||
| a. Basic | 0.09 | 0.34 | 1.21 | 1.11 | 4.51 | |
| b. Diluted | 0.09 | 0.34 | 1.21 | 1.11 | 4.51 |
Note:
1. The above results for the quarter and year ended March 31, 2026 as reviewed and recommended by the Audit committee of the Board has been approved by the Board of Directors at its meeting held on May 22, 2026. The Statutory Auditors of the Company have expressed an unmodified audit opinion on the above results.
2. The above is an extract of the detailed format of the audited financial results for the quarter and year ended March 31, 2026 filed with the Stock Exchange under Regulation 33 of the SEBI (Listing and Obligations Disclosure Requirements) Regulations, 2015. The full format of the audited financial results for the quarter and year ended March 31, 2026 are available on the website of the BSE Limited i.e. www.bseindia.com, on the Stock Exchange where the Company's shares are listed and on the website of the Company i.e. www.vtmill.com
Place: Kappalur
Date: May 22, 2026
K. Thiagarajan
Chairman and Managing Director
ESTD 1946
VTM LTD
Form A
Format of the covering letter of the annual audit report to be filed with the Stock Exchanges:
| 1. | Name of the Company | VTM LIMITED |
|---|---|---|
| 2. | Annual financial statements for the year ended | 31^{st} March 2026 |
| 3. | Type of Audit observation | Unmodified & Unqualified opinion |
| 4. | Frequency of observation | Whether appeared first time / repetitive. |
| for | ||
| No Qualification | ||
| remarks in Audit Report. | ||
| 5. | To be signed by Chairman and Managing Director – Mr. K.Thiagarajan | For VTM LIMITED |
| (K. THIAGARAJAN) | ||
| Chairman & Managing Director | ||
| 6. | To be Signed by the Chief Financial Officer- Mr. P. Senthil Kumar | for VTM LIMITED |
| P. Senthil Kumar | ||
| Chief Financial Officer | ||
| 7. | To be signed by the Statutory Auditor of the Company- M/s CNGSN & Associates LLP Mr.E.K. Srivatsan | For CNGSN & Associates LLP |
| E.K. Srivatsan | ||
| Chartered Account | ||
| 8. | To be Signed by the Audit Committee Chairman Mr. M.Anbukani | For VTM Limited |
| M. Anbukani | ||
| Chairman- Audit Committee |
For VTM LIMITED
K. PREYATHARSHINE
Company Secretary
M.No: A58314
Chairman's Office: Thiagarajar Mills Premises, KAPPALUR - 625 008, Madurai, India.
Regd. Office: SULAKARAI, Virudhunagar - 626 003.
CIN No. : L17111TN1946PLC003270
GST No. : 33AAACV3775E1ZG
PAN No. : AAACV3775E
Phone : 91-452-2482595 (4 lines) / 2487449
: 73977 33144, 73977 33145
Fax : 91-452-2486085
E-mail : [email protected]
: [email protected]
Web : www.vtmill.com
CA INDIA
CNGSN & ASSOCIATES LLP
CHARTERED ACCOUNTANTS
Anand Seethakathi Business Centre, 2nd Floor, No. 684-690
Anna Salai, Thousand Lights, Chennai - 600 006. India.
Tel: +91 - 44 - 4554 1480 / 81 / 82
Web: www.cngsn.com; Email: [email protected]
Independent Auditors' Report
on quarter and year to date standalone financial results for the quarter and year ended March 31, 2026 of M/s VTM Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended
The Board of Directors
VTM Limited
Kappalur, Madurai
Report on the audit of the Standalone Financial Results
Opinion
We have audited the accompanying standalone financial results of VTM Limited (the "Company") for the quarter and the year ended March 31, 2026 ("Statement"), attached herewith, being submitted by the company pursuant to the requirement of Regulation 33 and Regulation 52 read with Regulation 63(2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 'Listing Regulations') which has been initialled by us for identification purposes.
In our opinion and to the best of our information and according to the explanations given to us, the statement:
(a) is presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
(b) give a true and fair view in conformity with the recognition and measurement principles laid down in the applicable accounting standards prescribed under Section 133 of the Companies Act, 2013 (the "Act") and other accounting principles generally accepted in India of the net profit and other comprehensive income and other financial information for the quarter and 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 Act. Our responsibilities under those standards are further described in the auditor's responsibilities for the audit of the financial statements 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 we have obtained is sufficient and appropriate to provide a basis for our opinion.
CNGSN & Associates LLP, a Limited Liability Partnership with LLP Identity No.AAC-9402
BRANCH OFFICES AT: CHENNAI | VELLORE | BANGALORE | HYDERABAD | BHUBANESWAR | VISAKHAPATNAM
CNGSN & ASSOCIATES LLP
CHARTERED ACCOUNTANTS
Contd...
Management's and Those Charged With Governance's Responsibilities for the Standalone Financial Results
The Statement has been prepared on the basis of the Standalone annual financial statements. The Company's Board of Directors are responsible for the preparation of the Statement that gives a true and fair view of the net profit and other comprehensive income and other financial information in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34, 'Interim Financial Reporting' 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 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 design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Statement that give a true and fair view and are free from material misstatement, whether due to fraud or error.
In preparing the Statement, 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 (Those Charged With Governance) are also responsible for overseeing the Company's financial reporting process.
Auditors' Responsibilities for the Audit of the Standalone Financial Results
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is 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 the Statement.
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 Statement, 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, but not for the purpose of expressing an opinion on the effectiveness of the company's internal control.
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
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CNGSN & ASSOCIATES LLP
CHARTERED ACCOUNTANTS
Contd...
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Conclude on the appropriateness of the 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 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 Company to cease to continue as a going concern.
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Evaluate the overall presentation, structure and content of Statement, including the disclosures, and whether the Statement represent the underlying transactions and events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the financial statements that, individually or in aggregate, makes it probable that the economic decisions of a reasonably knowledgeable user of the financial statements 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 financial statements.
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 Matters
The Statement includes the results for the quarter ended March 31, 2026 being the balancing figure between the audited figures in respect of the full financial year ended March 31, 2026 and the published unaudited year-to-date figures up to the third quarter of the current financial year, which were subjected to a limited review by us, as required under the Listing Regulations.
For CNGSN & ASSOCIATES LLP
Chartered Accountants
Firm Registration No.004915S/ S200036
E.K. Srivatsan
(E. K. SRIVATSAN)
Partner
Membership No. 225064
UDIN: 26225064YAJPIU4353
Place: Chennai
Date: May 22, 2026
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