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W.H. Brady & Co. Ltd. Earnings Release 2026
62404_rns_2026-05-27_659f89cb-388b-4983-87fb-fdf6dacbf8e5.pdf
Earnings Release
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BRADYS
Quality, Our Legacy
W.H. BRADY & Co. LTD.
CIN No. - L17110MH1913PLC000367
Regd. Office: BRADY HOUSE, 12-14, VEER NARIMAN ROAD, FORT, MUMBAI - 400001. INDIA
TEL.: (022) - 22048361-65 • E-mail: [email protected] • Website: www.bradys.in
Date: May 27, 2026
To,
BSE Limited
Department of Corporate Services,
Phiroze Jeejeebhoy Towers,
Dalal Street, Fort
Mumbai - 400 001
Scrip Code: 501391
Sub: Outcome of the Board Meeting held on May 27, 2026
Dear Sir / Madam,
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), we hereby inform you that the Board of Directors of the Company at its Meeting held today has, inter-alia, approved the following matters:
- Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended March 31, 2026:
The Audited Standalone and Consolidated Financial Results of the Company for the quarter and year ended March 31, 2026 as required under Regulation 33 of Listing Regulations and other provisions as applicable, is enclosed together with the following:
-
The Auditors Report(s) by M/s. J. G. Verma & Co. Chartered Accountants, the Statutory Auditor of the Company, on the Standalone and Consolidated Financial Results for the quarter and year ended March 31, 2026.
-
The Declaration of Audit Reports with unmodified opinion with respect to Audited Standalone and Consolidated Financial Results of the Company for the year ended on March 31, 2026 under Regulation 33(3)(d) of Listing Regulations.
BRANCHES:
BRADYS Quality Our Legacy
W.H. BRADY and Company Limited
CIN No. - L17110MH1913PLC000367
Regd. Office: BRADY HOUSE, 12-14, VEER NARIMAN ROAD, FORT, MUMBAI - 400001. INDIA
TEL.: (022) - 22048361-65 • E-mail: [email protected] • Website: www.bradys.in
Appointment of M/s. Himank Desai & Co. and M/s. V. V. Kale & Co. as the Internal Auditors of the Company for the FY 2026-27.
The details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, read with SEBI circular no. SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 11th July, 2023 and last updated on January 30, 2026 are given as Annexure 'A'.
- Appointment of Company Secretary and Compliance Officer:
Appointment of Mr. Sanyo Rodrigues (Membership No. ACS 80049) as Company Secretary and Compliance Officer of the Company with effect from June 01, 2026. Mr. Sanyo Rodrigues will also act as the Company Secretary and Compliance Officer of Brady & Morris Engineering Company Limited, Subsidiary Company.
The details as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, read with SEBI circular no. SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 11th July, 2023 and last updated on January 30, 2026 are given as Annexure 'B'.
The Meeting of the Board of Directors commenced at 04:45 p.m. and concluded at 05:15 p.m.
The above is for your information and records.
Thanking You.
Yours faithfully,
For W. H. BRADY AND COMPANY LIMITED.
RAJENDER SHARMA
CHIEF FINANCIAL OFFICER
Encl: as above
: BRANCHES :
• AHMEDABAD : Tel.: 02694 - 304200 • Email: [email protected] • CHENNAI : Tel.: 044-24310618 • Email: [email protected]
W. H. BRADY & COMPANY LIMITED
CIN No.: L17110NH1813PL1000367
Brady House, 12-14 Deer Haciman Road
Port, Mumbai 40001.
Tel.: (022) - 22048361-65 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
| Particulars | Quarter Ended | Year Ended | ||||
|---|---|---|---|---|---|---|
| March 31, 2026 | ||||||
| (Unaudited) | ||||||
| (Refer Note 4) | December 31, 2025 | |||||
| (Unaudited) | March 31, 2026 | |||||
| (Unaudited) | ||||||
| (Refer Note 5) | March 31, 2026 | |||||
| (Audited) | March 31, 2025 | |||||
| (Audited) | ||||||
| I | Revenue from operations | 939.42 | 605.80 | 643.06 | 2,160.56 | 2,549.76 |
| II | Other income | 3.09 | 156.63 | 1114.58 | 397.18 | 441.68 |
| III | Net income (I) + (II) | 548.51 | 742.43 | 718.50 | 2,558.14 | 3,391.44 |
| IV | Expense: | |||||
| 4) Purchases of Stock-in-Trade | 156.82 | 187.06 | 459.44 | 596.64 | 1,418.22 | |
| 5) Employee benefits expense | 129.15 | 163.49 | 114.70 | 565.39 | 467.76 | |
| 6) Finance costs | 8.18 | 8.75 | 11.03 | 39.82 | 49.17 | |
| 8) Depreciation and amortization expense | 39.26 | 41.16 | 43.29 | 103.76 | 113.03 | |
| 9) Other expenses | 462.04 | 142.87 | 217.57 | 1,123.35 | 545.91 | |
| Total expenses (IV) | 795.44 | 643.43 | 846.09 | 2,501.28 | 2,964.69 | |
| V | Profit/(Loss) before exceptional items and tax (VI) - (IV) | (246.91) | 99.00 | (127.53) | 56.85 | 396.75 |
| VI | Exceptional items (Net) | - | - | - | - | - |
| VII | Profit/(Loss) before tax (V) - (VI) | (246.91) | 99.00 | (127.53) | 56.85 | 396.75 |
| VIII | Tax Expense | |||||
| 1) Current tax (Refer Note 4) | (8.00) | 16.80 | (23.00) | 45.00 | 68.00 | |
| 2) Deferred tax liability (assets) | (48.40) | 4.55 | (27.63) | (48.63) | (1.78) | |
| 3) Taxes related to earlier years | (0.52) | 4.35 | (6.14) | 3.83 | (6.14) | |
| 5) MAT Credit (Refer Note 4) | (33.10) | - | - | (33.10) | - | |
| Total Tax Expense (VIII) | (90.02) | 25.70 | (56.77) | (32.90) | 60.08 | |
| IX | Profit/(Loss) for the period/year (VII) - (VIII) | (156.91) | 73.30 | (70.76) | 89.75 | 316.67 |
| Other Comprehensive income | ||||||
| A. Items that will not be reclassified to Profit or Loss | ||||||
| 1) Remeasurement of defined benefit plan | (0.81) | 0.71 | 7.12 | 1.32 | 2.84 | |
| 2) Equity instruments through other comprehensive income | (72.17) | (27.79) | 9.23 | (123.46) | 142.46 | |
| (3) Income tax relating to items that will not be reclassified to Profit or Loss | 8.48 | 2.81 | (7.57) | 13.27 | (9.51) | |
| X | Other comprehensive income | (64.50) | (24.27) | 8.78 | (108.50) | 136.78 |
| XI | Total Comprehensive income (IX) + (X) | (221.41) | 49.03 | (61.98) | (19.15) | 453.45 |
| Paid-up equity share capital (face value of Rs.10/-) | 255.00 | 255.00 | 255.00 | 255.00 | 255.00 | |
| Other Equity | 4,582.00 | 4,601.15 | ||||
| XII | Earnings per equity share (of face value of 10/- each): | |||||
| Basic and Diluted (Refer Note 5) | (6.15) | 2.87 | (2.77) | 3.52 | 12.42 |
See accompanying notes to the financial results
Place: Mumbai
Date: May 27, 2026
FOR AND ON BEHALF OF THE BOARD
PAVAN G. MORARKA
CHAIRMAN & MANAGING DIRECTOR
TIN: 00174796
W. H. BRADY & COMPANY LIMITED
CIN No:-117110MH1913PLC000367
Brady House, 12-14 Veer Nariman Road
Fort, Mumbai 400001.
Tel.: (022) - 22048361-65 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
STANDALONE AUDITED BALANCE SHEET AS AT MARCH 31, 2026
(Rs. In Lakhs)
| Particulars | March 31, 2026
(Audited) | March 31, 2025
(Audited) |
| --- | --- | --- |
| Assets | | |
| A Non current assets | | |
| a Property, Plant and Equipment | 1,426.90 | 547.93 |
| b Investment Property | 118.07 | 138.95 |
| c Other Intangible Assets | 1.51 | 1.68 |
| d Financial assets: | | |
| (i) Investments | 3,046.24 | 3,808.90 |
| e Other non - current assets | 217.50 | 430.00 |
| Total non current assets (A) | 4,810.22 | 4,927.46 |
| B Current assets | | |
| a Financial assets: | | |
| (i) Trade receivables | 106.21 | 180.68 |
| (ii) Cash and cash equivalents | 11.49 | 14.20 |
| (iii) Bank balance other than (iii) above | 851.37 | 736.16 |
| (iv) Other financial assets | 14.72 | 14.71 |
| b Other current assets | 139.95 | 161.45 |
| c Current tax assets (net) | 234.41 | 74.50 |
| Total current assets (B) | 1,358.15 | 1,181.70 |
| Total Assets (A)+(B) | 6,168.37 | 6,109.16 |
| EQUITY AND LIABILITIES | | |
| C Equity | | |
| a Equity share capital | 255.00 | 255.00 |
| b Other equity | 4,582.00 | 4,601.15 |
| Total equity (C) | 4,837.00 | 4,856.15 |
| D Non current liabilities | | |
| a Financial liabilities: | | |
| (i) Borrowings | 2.81 | 26.34 |
| (ii) Other Financial liabilities | 818.79 | 780.56 |
| b Provisions | 3.42 | 5.11 |
| c Deferred tax liabilities (Net) | 11.43 | 73.33 |
| d Other non current liabilities | 33.38 | 37.05 |
| Total non current liabilities (D) | 869.83 | 922.39 |
| E Current liabilities | | |
| a Financial liabilities: | | |
| (i) Borrowings | 275.41 | 161.53 |
| (ii) Trade payables total outstanding dues of | | |
| a) Micro enterprises and small enterprises | 35.72 | - |
| b) Other than micro enterprises and small enterprises. | 6.60 | 71.80 |
| b Provisions | 37.96 | 3.78 |
| c Other current liabilities | 105.85 | 93.51 |
| Total current liabilities (E) | 461.54 | 330.62 |
| Total Equity & Liabilities (C)+(D)+(E) | 6,168.37 | 6,109.16 |
See accompanying notes to the financial results
FOR AND ON BEHALE OF THE BOARD
Pavan G. Morarka
Chairman & Managing Director
DIN: 00174796
Place: Mumbai
Date: May 27, 2026
W. H. BRADY & COMPANY LIMITED
CIN No.: L17110MH1913PLC000367
Brady House', 12-14 Veer Nariman Road
Fort, Mumbai 400001.
Tel.: (022) - 22048381-65 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
STANDALONE AUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
(Rs. In Lakhs)
| Particulars | Quarter Ended | Year Ended | |||
|---|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | March 31, 2026 | March 31, 2025 | |
| (Unaudited) | |||||
| (Refer Note d) | (Unaudited) | (Unaudited) | |||
| (Refer Note d) | (Audited) | (Audited) | |||
| Segment Revenue | |||||
| Renting (Leave & License) | 356.86 | 406.31 | 365.54 | 1,501.42 | 1,425.71 |
| Trading | 182.56 | 199.49 | 477.52 | 659.54 | 1,524.05 |
| Others/Unallocable | - | - | - | - | - |
| Total Segment Revenue | 539.42 | 605.80 | 843.06 | 2,160.96 | 2,949.76 |
| Segment Result (Profit/ (Loss)) before interest and tax | |||||
| Renting (Leave & License) | 312.76 | 326.44 | 296.94 | 1,271.33 | 1,147.79 |
| Trading | (46.11) | (58.18) | (51.32) | (213.77) | (203.24) |
| Total Segment Result | 266.65 | 268.26 | 245.62 | 1,057.56 | 944.55 |
| Less: Finance Costs | 8.19 | 8.76 | 11.03 | 39.92 | 49.17 |
| Less: Unallocable Expenses (Net) (Refer Note 4 of Segment reporting) | 505.39 | 160.50 | 562.12 | 960.79 | 498.63 |
| Total Profit/(Loss) before tax | (246.93) | 99.00 | (127.53) | 56.85 | 396.75 |
| Segment Assets | |||||
| Renting (Leave & License) | 120.00 | 115.57 | 138.95 | 120.00 | 138.95 |
| Trading | 106.54 | 121.30 | 185.03 | 106.54 | 185.03 |
| Unallocable Assets | 5,941.83 | 6,198.50 | 5,785.18 | 5,941.83 | 5,785.18 |
| Total Segment Assets | 6,168.57 | 6,435.57 | 6,109.16 | 6,168.57 | 6,109.16 |
| Segment Liabilities | |||||
| Renting (Leave & License) | 850.56 | 794.97 | 802.24 | 850.56 | 802.24 |
| Trading | 59.31 | 59.93 | 87.98 | 59.31 | 87.98 |
| Unallocable Liabilities | 421.50 | 522.06 | 362.79 | 421.50 | 362.79 |
| Total Segment Liabilities | 1,331.37 | 1,376.96 | 1,253.01 | 1,331.37 | 1,253.01 |
| Total Capital Employed in the Company | 4,837.00 | 5,058.41 | 4,856.15 | 4,837.00 | 4,856.15 |
See accompanying notes to the financial results
Notes:
1) The Company has reported segment information as per Indian Accounting Standard 108 "Operating Segment" (IND AS 108). The identification of operating segments is consistent with performance assessment and resource allocation by the management.
2) Classification of Business Segments:
a) Renting: Renting space building under Leave and License arrangements
b) Trading: Trade of material handling equipment including commission services
3) Previous periods figures have been regrouped/restated wherein considered necessary, to conform to current period's classification.
4) Unallocated expenses are net of other income.
Place: Mumbai
Date: May 27, 2026
FOR AND ON BEHALF OF THE BOARD
PAVAN G. MORAMKA
CHAIRMAN & MANAGING DIRECTOR
DIN: 00174796
FRIB. 111381M
MUMBAI
1000000000000000000000000000000000000000000000000000000000000000000000
W. H. BRADY & COMPANY LIMITED
CIN No.: L17110MH1913PLC000367
Brady House, 12-14 Veer Nariman Road
Fort, Mumbai 400001.
Tel.: (022) - 22048361-65 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
STANDALONE AUDITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2026
(Rs. in Lakhs)
| Particulars | March 31, 2026
(Audited) | March 31, 2025
(Audited) |
| --- | --- | --- |
| Cash flows from operating activities | | |
| Profit before tax as per statement of profit and loss | 56.85 | 396.75 |
| Adjustments to reconcile profit before tax to net cash flows: | | |
| Depreciation and amortization expenses | 155.79 | 113.63 |
| (Profit)/Loss on sale, discarding of Property, Plant and Equipment | (4.99) | 21.50 |
| Sundry balances Written off/ Written back/ Others | 117.59 | 2.04 |
| Interest Income | (154.62) | (180.05) |
| Dividend Income | (5.28) | (4.50) |
| Interest expenses | 16.76 | 18.85 |
| Unwinding of the discount in financial liabilities | 18.10 | 24.56 |
| Employee benefits expense | 1.32 | 2.84 |
| Deferred Income | (13.48) | (23.93) |
| Commission related to leased asset | 13.88 | 23.65 |
| (Profit)/Loss on sale of Investments valued at FVTPL (net) | (105.41) | 43.47 |
| Fair valuation of Investments valued at FVTPL (net) | 49.82 | (209.01) |
| Operating profit before working capital changes | 144.33 | 229.60 |
| Movement in Working Capital: | | |
| Decrease / (Increase) in Non-Current/Current financial and other assets | 192.28 | 263.10 |
| Increase / (Decrease) in Non-Current/Current financial and other liabilities | 52.06 | (308.06) |
| Cash generated from/jused in operations | 369.67 | 186.65 |
| Direct taxes paid, net of refunds | (175.64) | (97.25) |
| Net cash flow from/jused in operating activities (A) | 213.03 | 89.60 |
| Cash flows from investing activities | | |
| Purchase of Property, plant and equipment (Refer Note B) | (1,029.01) | (470.42) |
| Proceeds from sale of Property, plant and equipment | 5.00 | 51.25 |
| Proceeds from disposal of non-current investment | 4,273.09 | 2,539.43 |
| Purchase of non-current investment | (3,577.49) | (2,949.87) |
| Proceeds from sale/redemption of investment in Subsidiary | - | 500.00 |
| Deployment of funds in bank deposits - other bank balances | (115.21) | (234.49) |
| Interest received | 149.00 | 168.63 |
| Dividend Income | 5.28 | 4.50 |
| Net cash from/jused in investing activities (B) | (289.34) | (6.97) |
| Cash flows from financing activities | | |
| Proceeds from Long Term Borrowing | - | 44.31 |
| Repayment of Long Term Borrowings | (21.59) | (17.69) |
| Proceed from Short Term Borrowings | 3,525.93 | 3,051.68 |
| Repayment of Short Term Borrowings | (3,510.83) | (3,086.49) |
| Interest Paid | (16.76) | (18.85) |
| Net cash from/jused in financing activities (C) | (23.05) | (27.04) |
| Net increase / (decrease) in cash and cash equivalents (A+B+C) | (99.36) | 55.59 |
| Cash and Cash equivalents at the beginning of the year | 7.27 | 23.72 |
| Bank Overdraft | (139.94) | (211.98) |
| | (132.67) | (188.26) |
| Cash and Cash equivalents at the end of the year | 11.49 | 7.27 |
| Bank Overdraft | (243.52) | (139.94) |
| | (232.03) | (132.67) |
| Net increase / (decrease) in cash and cash equivalents | (99.36) | 55.59 |
The accompanying notes are an integral part of these standalone financial statements.
Notes:
1) The above Statement of Cash Flows has been prepared under the "Indirect Method" as set out in Ind AS 7, "Statement of Cash Flows".
2) Previous Period's Year's figures have been regrouped/restated, wherever considered necessary to confirm the current period classification.
Place: Mumbai
Date: May 27, 2022
FOR AUD ON BEHALF OF THE BOARD
PAVAN G. MORARRA
CHAIRMAN & MANAGING DIRECTOR
DIN: 00174796
FEB 11 2020 MUMBAI
W. H. BRADY & COMPANY LIMITED
CIN No.: L17110MH1913PLC000367
Brady House, 12-14 Veer Nariman Road
Fort, Mumbai 400001.
Tel.: (022) - 22048961-65 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
NOTES TO THE AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
1) The above Audited Standalone Financial Results for the quarter and year ended March 31, 2026 ("Financial Results") have been prepared in accordance with Indian Accounting Standards ('Ind AS') notified under section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Rules, 2016 and other accounting principles generally accepted in India.
2) The above Audited Standalone Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on May 27, 2026.
3) The above Audited Standalone Financial Results are available on the website of BSE Limited (www.bseindia.com) and on the website of the Company (www.whbrady.in).
4) The provision for tax for the quarter and year ended March 31, 2026, is made based on normal provisions of the Income tax Act, 1961 ("the Act"). The Company is entitled to claim a MAT credit of Rs. 33.10 lakhs against the said provision out of the accumulated MAT credit upto March 31, 2025, in accordance with the provisions of Section 115JAA of the Act, which has been considered and disclosed in Tax Expense in the standalone audited results. The unprovided MAT credit upto March 31, 2026, aggregating to Rs. 199.59 lakhs, will be considered/ recognised after ascertaining the probability that the near future economic benefits associated with it will flow to the Company based on income tax assessment and / or the amended provisions of the Income tax Act, 2025 at the appropriate time.
5) Earnings per share are not annualised except for the year ended March 31, 2025 & March 31, 2026.
6) The figures for the previous quarter ended March 31, 2025 and March 31, 2026 are derived after taking into account the unaudited financial information for the nine months ended December 31, 2024 and December 31, 2025 respectively.
7) Other Expenses for the quarter and year ended March 31, 2026 include INR 121.79 lakhs (Previous year INR 24.62 lakhs) towards irrecoverable amounts written-off.
8) The Company has paid conversion premium of Rs. 976.61 Lakhs on March 04, 2026 to the District Collector of Mumbai for conversion of its leasehold rights in the land property at Veer Nariman Road, Fort, Mumbai (Brady House) into Class 1 (freehold) property in accordance with the provisions of the Maharashtra Land Revenue (Conversion of Occupier Class 2 and Leasehold Lands into Occupier Class 1) Rules 2025 to the Maharashtra Land Revenue Code 1966 and the conversion has been approved by the District Collector of Mumbai vide Order dated March 18, 2026. The Conversion charges have been capitalised as Freehold land in the Property, Plant and Equipment accordingly.
9) Figures of previous period's have been regrouped/restated wherever considered necessary, to conform to current period classification.
Place: Mumbai
Date: May 27, 2026
PAVAN G. MORARKA
CHAIRMAN & MANAGING DIRECTOR
DIN: 00174796
J. G. VERMA & CO. (Regd.)
CHARTERED ACCOUNTANTS
J01 - B. NIRANJAN,
95, MARINE DRIVE,
MUMBAI - 400 002
J. G. VERMA
A. G. VERMA
PHONE : 2281 3868
: 3504 4116
MOBILE : 9820531754
EMAIL : [email protected]
Ref. No.:
Independent Auditors' Report on the standalone financial results of W. H. Brady & Company Limited pursuant to Regulation 33 and Regulation 52 read with Regulation 63 (2) of the SEBI (Listing Obligations and Disclosures Requirements) regulations, 2015
The Board of Directors,
W. H. Brady & Company Limited,
Mumbai 400001.
Opinion
-
We have audited the accompanying Standalone Financial Results of W. H. Brady & Company Limited, Brady House, 4th Floor, 12/14 Veer Nariman Road, Fort, Mumbai 400001 ("the Company"), for the quarter and year ended 31 March 2026 ("the Standalone Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 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 Standalone Statement:
a) is presented in accordance with the requirements of Regulation 33 and Regulation 52 of the Listing Regulations, in this regard; and
b) gives 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 the net profit for the quarter and year ended 31st March 2026, other comprehensive income, and other financial information of the Company for the quarter and year ended 31st March 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 ("the Act"). Our responsibilities under those SAs 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 (ICAI) together with the ethical requirements that are relevant to our audit of the financial Standalone 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 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 Standalone Statement.
J. G. Verma & Co.
W. H. Brady & Company Limited
Independent Auditor's report on standalone financial results (31-Mar-2026)
Managements and Board of Directors' Responsibilities for the Financial Results
- This Standalone Statement has been prepared based on the audited Standalone Financial Statements for the year ended March 31, 2026.
The Company's Management and the Board of Directors are responsible for the preparation of these Standalone Financial Results that give a true and fair view of the net loss and other comprehensive income and other financial information in accordance with 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 Financial Results that give a true and fair view and is free from material misstatement, whether due to fraud or error.
- In preparing the Standalone 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 are also 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 aggregate, they could reasonably be expected to influence the economic decisions of users taken based on 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 Standalone 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 controls.
-
Obtain an understanding of internal control relevant to the audit 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 Standalone Statements on whether the entity has adequate internal financial controls with reference to financial Standalone Statements in place and the operating effectiveness of such controls.
1
J. G. Verma & Co.
W. H. Brady & Company Limited
Independent Auditor's report on standalone financial results (31-Mar-2026)
- 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 the Management and 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 Standalone 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; and
-
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.
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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 Standalone 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
- Attention is drawn to the fact that the figures for the quarter ended 31st March 2026 and the corresponding quarter ended in the previous year as reported in these standalone financial results are the balancing figures between audited figures in respect of full financial year and the published year to date unaudited figures up to the end of the third quarter of the relevant financial year which were subjected to limited review by us. Our opinion is not modified in respect of this matter.
For J. G. Verma & Co.
Chartered Accountants
(Registration No. 111381W)
Arun G. Verma
Partner
Membership No. 031898
UDIN: 26031898NVOAZH7099
Place : Mumbai
Date : 27th May, 2026
W. H. BRADY & COMPANY LIMITED
CIN No.-117110MH1913PLC000367
Brady House, 12-14 Deer Nairman Road
Fort, Mumbai 40001.
Tel.: (022) - 22048761-95 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
(Rs. in Lakhs except Earning Per Share)
| Particulars | Quarter Ended | Year ended | ||||
|---|---|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | March 31, 2026 | March 31, 2025 | ||
| (Unaudited) | ||||||
| (Refer Note 10) | (Unaudited) | (Unaudited) | ||||
| (Refer Note 10) | (Audited) | (Audited) | ||||
| I | Income | |||||
| II | Revenue from operations | 2,123.72 | 2,694.12 | 3,047.45 | 8,857.50 | 10,514.57 |
| III | Other income | 91.24 | 212.57 | (109.21) | 604.46 | 800.84 |
| Total Income (II) + (III) | 2,214.06 | 2,906.69 | 2,958.24 | 9,531.79 | 11,015.21 | |
| IV | Expenses: | |||||
| a) Cost of material consumed | 976.75 | 1,243.78 | 1,531.74 | 4,341.64 | 5,199.02 | |
| b) Purchases of Stock-in-Trade | 12.82 | 1.21 | 4.06 | 23.10 | 64.80 | |
| c) Changes in inventories of Stock-in-Trade | 14.12 | 92.11 | 204.97 | (272.05) | (41.86) | |
| d) Employee benefits expense | 477.40 | 525.09 | 641.49 | 1,978.30 | 2,799.14 | |
| e) Finance costs | 28.15 | 30.19 | 69.07 | 137.21 | 145.19 | |
| f) Depreciation and amortization expense | 69.80 | 70.51 | 70.36 | 269.76 | 212.75 | |
| g) Other expenses | 716.40 | 562.47 | 566.54 | 2,264.93 | 2,227.04 | |
| Total expenses (IV) | 2,797.43 | 2,515.36 | 2,988.21 | 8,732.89 | 9,606.13 | |
| V | Profit/(Loss) before exceptional items and tax (I) - (IV) | (82.47) | 391.33 | (49.97) | 788.90 | 1,409.08 |
| VI | Exceptional items (Refer Note 7) | - | - | 1,931.85 | - | 1,931.85 |
| VII | Profit/(Loss) before tax (V) + (VI) | (82.47) | 391.33 | 1,861.88 | 788.90 | 3,540.53 |
| VIII | Tax Expense | |||||
| 1) Current tax (Refer Note 6) | 26.11 | 85.65 | 193.86 | 230.56 | 540.31 | |
| 2) Deferred tax | (49.36) | 9.17 | 59.81 | (53.70) | 91.51 | |
| 3) Taxes related to earlier years | (6.34) | 4.35 | (6.14) | (2.11) | (8.53) | |
| 4) MAT Credit Entitlement (Refer Note 6) | (33.10) | - | - | (33.10) | - | |
| Total Tax Expense (VIII) | (62.69) | 99.17 | 247.33 | 241.43 | 623.29 | |
| IX | Profit/(Loss) after tax for the period/year (VII) - (VIII) | (19.78) | 292.16 | 1,634.35 | 547.25 | 2,717.64 |
| Other Comprehensive Income | ||||||
| A. Items that will not be reclassified to Profit or Loss | - | - | - | - | - | |
| i) Remeasurement of defined benefit plan | 6.77 | 0.71 | 5.58 | 8.90 | 1.06 | |
| ii) Equity instruments through other comprehensive income | (72.17) | (27.79) | 9.23 | (123.49) | 142.46 | |
| iii) Income tax relating to items that will not be reclassified to Profit or Loss | 6.57 | 1.81 | (7.11) | 11.36 | (8.07) | |
| X | Other comprehensive income | (18.83) | (24.27) | 7.45 | (103.22) | 135.45 |
| XI | Total Comprehensive Income (IX) + (X) | (78.61) | 267.89 | 1,641.80 | 544.92 | 2,853.09 |
| XII | Profit/(Loss) for the period attributable to: | |||||
| (a) Owners of the Company | (57.16) | 232.49 | 1,169.37 | 495.23 | 2,062.90 | |
| (b) Non-controlling interests | 17.40 | 59.67 | 464.58 | 152.02 | 654.74 | |
| Other comprehensive income for the period attributable to: | ||||||
| (a) Owners of the Company | (60.38) | (24.27) | 7.62 | (104.76) | 135.82 | |
| (b) Non-controlling interests | 1.55 | - | (0.37) | 1.55 | (0.37) | |
| Total comprehensive income for the period attributable to: | ||||||
| (a) Owners of the Company | (117.56) | 208.22 | 1,177.31 | 390.45 | 2,198.72 | |
| (b) Non-controlling interests | 38.95 | 59.67 | 464.49 | 153.67 | 654.37 | |
| XIII | Paid-up equity share capital (fate value of Rs.10/-) | 255.00 | 255.00 | 255.00 | 255.00 | 255.00 |
| XIV | Other Equity | 8,389.57 | 7,999.12 | |||
| XV | Earnings per equity share (of face value of 10/- each): | |||||
| Basic and Diluted (Refer Note 5) | (0.78) | 11.46 | 64.09 | 25.38 | 106.57 |
See accompanying notes to the financial results
Place: Mumbai
Date: May 27, 2026
W. H. BRADY & COMPANY LIMITED
CIN No.: L17110MH1913PLC000367
Brady House, 12-14 Vore Neelman Road
Fort, Mumbai 400001.
Tel.: (022) - 22048361-65 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
CONSOLIDATED AUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
| Particulars | Quarter Ended | Year ended | |||
|---|---|---|---|---|---|
| March 31, 2026 | December 31, 2025 | March 31, 2025 | March 31, 2026 | March 31, 2025 | |
| (Unaudited) | |||||
| (Refer Note 10) | (Unaudited) | (Unaudited) | |||
| (Refer Note 10) | (Audited) | (Audited) | |||
| Segment Revenue | |||||
| Renting (Leave & License) | 356.86 | 406.31 | 365.54 | 1,501.42 | 1,425.71 |
| Trading | 182.56 | 199.49 | 477.52 | 659.54 | 1,524.06 |
| Manufacturing | 1,745.99 | 2,281.37 | 2,669.06 | 7,310.55 | 9,030.60 |
| Reconciling Items (Refer Note 5 of Segment reporting) | (161.69) | (193.05) | (464.67) | (614.18) | (1,465.99) |
| Total Segment Revenue | 2,123.72 | 2,694.12 | 3,047.45 | 8,857.33 | 10,514.37 |
| Segment Result (Profit/(Loss)) before interest and tax | |||||
| Renting (Leave & License) | 312.76 | 326.44 | 296.94 | 1,271.33 | 1,147.79 |
| Trading | (46.11) | (58.18) | (51.32) | (213.77) | (203.24) |
| Manufacturing | 194.42 | 313.77 | 135.60 | 819.34 | 1,108.35 |
| Total Segment Result | 451.07 | 582.03 | 381.22 | 1,876.90 | 2,052.90 |
| Less: Finance Costs | 28.15 | 30.20 | 69.07 | 122.21 | 145.19 |
| Less: Unallocable Expenses (Net) | 505.39 | 160.50 | 363.12 | 960.79 | 498.63 |
| Total Profit before tax | (82.47) | 391.33 | (49.97) | 786.90 | 1,409.06 |
| Segment Assets | |||||
| Renting (Leave & License) | 120.00 | 115.57 | 138.95 | 120.00 | 138.95 |
| Trading | 70.82 | 113.60 | 170.74 | 70.82 | 170.74 |
| Manufacturing | 6,924.39 | 6,814.47 | 7,653.31 | 6,924.39 | 7,653.31 |
| Unallocable Assets | 5,901.60 | 6,158.27 | 5,744.94 | 5,901.60 | 5,744.94 |
| Total Segment Assets | 13,016.81 | 13,201.91 | 13,707.94 | 13,016.81 | 13,707.94 |
| Segment Liabilities | |||||
| Renting (Leave & License) | 850.56 | 794.97 | 802.24 | 850.56 | 802.24 |
| Trading | 55.25 | 25.86 | 23.30 | 55.25 | 23.30 |
| Manufacturing | 1,598.17 | 1,689.08 | 2,972.30 | 1,598.17 | 2,972.30 |
| Unallocable Liabilities | 421.50 | 522.06 | 362.79 | 421.50 | 362.79 |
| Total Segment Liabilities | 2,925.48 | 3,031.97 | 4,160.63 | 2,925.48 | 4,160.63 |
| Total Capital Employed in the Group | 10,091.33 | 10,169.94 | 9,547.31 | 10,091.33 | 9,547.31 |
See accompanying notes to the financial results
Notes:
1) The Group has reported segment information as per Indian Accounting Standard 108 "Operating Segment" (IND AS 108). The identification of operating segments is consistent with performance assessment and resource allocation by the management.
2) Classification of Business Segments:
a) Renting : Renting space building under Leave and License arrangements
b) Trading : Trade of material handling equipment including commission services
c) Manufacturing : Manufacturing of Material handling equipment
3) Previous periods figures have been regrouped/restated wherein considered necessary, to conform to current period's classification.
4) Unallocated expenses is net of other income.
5) Reconciling items includes elimination of inter-segment transactions.
Place: Mumbai
Date: May 27, 2026
W. H. BRADY & COMPANY LIMITED
CIN No.: L17110MH3313PLC000367
Brady House, 12-14 Veer Nariman Road
Fort, Mumbai 400001.
Tel.: (022) - 22048361-65 Fax: (022) - 22043855
E-mail: [email protected] Website: www.bradys.in
CONSOLIDATED AUDITED BALANCE SHEET AS AT MARCH 31, 2026
(Rs. in Lakhs)
| Particulars | March 31, 2026
(Audited) | March 31, 2025
(Audited) |
| --- | --- | --- |
| | ASSISTS | |
| A Non Current Assets | | |
| a Property, plant and equipment | 2,344.54 | 1,475.83 |
| b Investment property | 118.07 | 138.95 |
| c Other Intangible assets | 21.98 | 18.98 |
| d Capital work in progress | 130.46 | 117.92 |
| e Intangible Assets Under Development | - | 2.80 |
| f Financial assets: | | |
| (i) Investments | 3,006.01 | 3,768.67 |
| g Other non - current assets | 233.75 | 446.91 |
| Total Non Current Assets (A) | 5,854.81 | 5,970.06 |
| B Current Assets | | |
| a Inventories | 1,822.26 | 1,734.63 |
| b Financial assets: | | |
| (i) Investments | 2,028.43 | 33.01 |
| (ii) Trade receivables | 1,565.29 | 2,403.17 |
| (iii) Cash and cash equivalents | 53.76 | 2,268.67 |
| (iv) Bank balance other than (iii) above | 1,209.99 | 918.90 |
| (v) Other financial assets | 48.35 | 52.78 |
| c Other current assets | 188.62 | 224.61 |
| d Current tax assets (net) | 245.30 | 102.11 |
| Total Current Assets (B) | 7,162.00 | 7,737.88 |
| Total Assets (A)+(B) | 13,016.81 | 13,707.94 |
| EQUITY AND LIABILITIES | | |
| C Equity | | |
| a Equity share capital | 255.00 | 255.00 |
| b Other equity | 8,389.57 | 7,999.12 |
| c Non controlling interest | 1,446.76 | 1,293.19 |
| Total equity (C) | 10,091.33 | 9,547.31 |
| D Non Current Liabilities | | |
| a Financial liabilities: | | |
| (i) Borrowings | 2.81 | 26.34 |
| (ii) Other financial liabilities | 859.36 | 816.48 |
| b Provisions | 27.96 | 46.25 |
| c Deferred tax liabilities (Net) | 115.16 | 180.24 |
| d Other non current liabilities | 33.38 | 37.05 |
| Total non current liabilities (D) | 1,038.67 | 1,106.36 |
| E Current Liabilities | | |
| a Financial liabilities: | | |
| (i) Borrowings | 759.05 | 1,039.41 |
| (ii) Trade payables total outstanding dues of | | |
| a) Micro enterprises and small enterprises | 108.50 | 136.04 |
| b) Other than micro enterprises and small enterprises. | 411.78 | 887.48 |
| (iii) Other financial liabilities | - | 73.20 |
| b Provisions | 68.75 | 10.64 |
| c Other current liabilities | 538.73 | 907.50 |
| Total current liabilities (E) | 1,886.81 | 3,054.27 |
| Total Equity & Liabilities (C)+(D)+(E) | 13,016.81 | 13,707.94 |
See accompanying notes to the financial results
FOR AND ON BEHALF OF THE BOARD
PRAIAN G. MORARRA
CHAIRMAN & MANAGING DIRECTOR
DIN: 00174796
Place: Mumbai
Date: May 27, 2026
W. H. BRADY & COMPANY LIMITED
CIN No.: L17110MH1011PLC000367
Brady House, 12-14 Veer Naniman Road
Fort, Mumbai 400001.
Tel.: (022) - 22048361-65 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
CONSOLIDATED AUDITED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED MARCH 31, 2026
(Ro. In Lakhs)
| Particulars | March 31, 2026
(Audited) | March 31, 2025
(Audited) |
| --- | --- | --- |
| | | |
| Cash flows from operating activities | | |
| Profit before tax and exceptional item for the year | 788.90 | 1,409.08 |
| Adjustments to reconcile profit before tax to net cash flows: | | |
| Depreciation and amortization expenses | 269.76 | 212.75 |
| (Profit) / Loss on sale, discarding of Property, Plant and Equipment | (5.30) | 21.50 |
| Sundry balances Written off/Written back | 117.24 | 2.04 |
| Interest income | (334.80) | (197.48) |
| Dividend income | (5.28) | (4.50) |
| Interest expenses | 104.05 | 114.87 |
| Unwinding of the discount in financial liabilities | 18.10 | 24.56 |
| Employee benefits expense | 1.32 | 2.84 |
| Deferred income | (15.48) | (23.93) |
| Commission related to leased asset | 13.88 | 23.65 |
| Profit on Sale of investment valued at PVTPL (net) | (108.13) | 43.47 |
| Gain on Fair valuation of investment valued at PVTPL (net) | (22.68) | (211.23) |
| Operating profit before working capital changes | 620.58 | 1,417.62 |
| Mouvement in Working Capital: | | |
| Decrease / (Increase) in Inventories | 802.60 | (526.37) |
| Decrease / (Increase) in Non-Current/Current financial and other assets | 211.91 | 119.64 |
| Increase / (Decrease) in Non-Current/Current financial and other liabilities | (990.49) | (10.27) |
| Cash generated from/(used in) operations | 844.60 | 1,002.62 |
| Direct taxes paid (net of refunds) | (330.98) | (605.49) |
| Exceptional items | - | (402.97) |
| Net cash flow from/(used in) operating activities (A) | 513.62 | (7.84) |
| Cash flows from investing activities | | |
| Purchase of Property, plant and equipment (Refer Note 9) | (1,146.12) | (1,653.78) |
| Proceeds from sale of Property, plant and equipment | 5.80 | 3,561.44 |
| Proceeds from disposal of non-current investment | 2,263.89 | 2,539.43 |
| Purchase of non-current investment | (3,577.49) | (2,565.87) |
| Proceeds from sale/redemption of Investment in Subsidiary | - | 500.00 |
| Deployment of funds in bank deposits - other bank balances | (291.31) | (238.47) |
| Disposal in capital work in progress and intangible assets under development | - | (3.55) |
| Interest received | 329.18 | 186.06 |
| Dividend income | 5.28 | 4.50 |
| Net cash from/(used in) investing activities (B) | (2,320.77) | 2,329.76 |
| Cash flows from financing activities | | |
| Proceed from long term borrowings | - | 16,847.95 |
| Repayment of Long Term Borrowings | (21.59) | (16,711.38) |
| Proceed from Short Term Borrowings | 16,065.79 | 3,051.68 |
| Repayment of Short Term Borrowings | (16,444.73) | (3,086.49) |
| Interest Paid | (104.05) | (114.87) |
| Net cash from/(used in) financing activities (C) | (504.58) | (13.11) |
| Net increase / (decrease) in cash and cash equivalents (A+B+C) | (2,311.73) | 2,308.81 |
| Cash and Cash equivalents at the beginning of the period | 2,261.74 | 24.97 |
| Bank Overdraft | (120.96) | (211.08) |
| | 2,121.80 | (187.01) |
| Cash and Cash equivalents at the end of the period | 53.59 | 2,261.74 |
| Bank Overdraft | (243.52) | (139.94) |
| | (189.95) | 2,121.80 |
| Net increase / (decrease) in cash and cash equivalents | (2,311.73) | 2,308.81 |
Note:
The above Statement of Cash Flows has been prepared under the 'Interest Method' as set out in Ind AS 7, 'Statement of Cash Flows'.
FOR AND ON BEHALF OF THE BOARD
PASIAN G. MODARKA
CHAIRMAN & MANAGING DIRECTOR
DIN : 00174796
Place : Mumbai
Date : May 27, 2026
W. H. BRADY & COMPANY LIMITED
C/N No.: L17110MH1911PLC000367
Brady House', 12-14 Veer Nariman Road
Fort, Mumbai 40001.
Tel.: (022) - 22048361-65 Fax: (022) - 22041855
E-mail: [email protected] Website: www.bradys.in
NOTES TO THE AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED MARCH 31, 2026
1) The above Audited Consolidated Financial Results for the quarter and year ended March 31, 2026 ("Financial Results") have been prepared in accordance with Indian Accounting Standards ("Ind AS") notified under section 133 of the Companies Act, 2013, read together with the Companies (Indian Accounting Standards) Rules, 2015 and Companies (Indian Accounting Standards) Rules, 2016 and other accounting principles generally accepted in India.
2) The above Audited Consolidated Financial Results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at its meeting held on May 27, 2026.
3) The above Audited Consolidated Financial Results include the audited financial results of the company's subsidiary Brady & Morris Engineering Company Limited.
4) The above Audited Consolidated Financial Results are available on the website of BSE Limited (www.bselindia.com) and on the website of the Company (www.whbrady.in).
5) Earnings per share are not annualised except for the year ended March 31, 2025 & March 31, 2026.
6) The provision for tax in case of the parent company for the quarter and year ended March 31, 2026, is made based on normal provisions of the Income Tax Act, 1961 ("the Act"). The parent company is entitled to claim a MAT credit of Rs. 33.10 lakhs against the said provision out of the accumulated MAT credit upto March 31, 2025, in accordance with the provisions of Section 1151AA of the Act, which has been considered and disclosed in Tax Expense in the Consolidated audited results. The unprovided MAT credit of the parent company upto March 31, 2026, aggregating to Rs. 199.59 lakhs, will be considered/ recognised after ascertaining the probability that the near future economic benefits associated with it will flow to the Group based on income tax assessment and / or the amended provisions of the Income Tax Act, 2025 at the appropriate time. In case of the subsidiary company provision for current tax is made based on taxable income under section 1158AA of the Income Tax Act, 1961.
7) Exceptional items include profit on sale of property, plant and equipment amounting to INR 2,334.82 Lakhs and net amount written off on account of cyber fraud amounting to INR 402.97 Lakhs for the quarter and year ended March 31, 2025.
8) The Government of India has consolidated 29 existing labour legislations into a unified framework comprising four labour code (the "new labour codes"), which became effective on November 21, 2025. The Group has evaluated the impact of these changes on its employee benefit obligation and, based on management estimates and actuarial valuation, has recognised the resulting financial impact in the standalone financial results as for the year ended March 31, 2026, considering the information currently available. The Group continues to monitor the finalisation of the central and state rules and any further clarifications issued by the Government under the new labour codes, and will record any changes in estimates in the period in which such updates arise.
9) The Group has paid conversion premium of Rs. 976.61 Lakhs on March 04, 2026 to the District Collector of Mumbai for conversion of its leasehold rights in the land property at Veer Nariman Road, Fort, Mumbai (Brady House) owned by the parent company into Class 1 (freehold) property in accordance with the provisions of the Maharashtra Land Revenue (Conversion of Occupier Class 2 and Leasehold Lands into Occupier Class 1) Rules 2025 to the Maharashtra Land Revenue Code 1966 and the conversion has been approved by the District Collector of Mumbai vide Order dated March 18, 2026. The Conversion charges have been capitalised as Freehold land in the Property, Plant and Equipment accordingly.
10) The figures for the previous quarter ended March 31, 2025 and March 31, 2026 are derived after taking into account the unaudited financial information for the nine months ended December 31, 2024 and December 31, 2025 respectively.
11) Figures of previous period's have been regrouped/restated wherever considered necessary, to conform to current period's classification.
Place: Mumbai
Date: May 27, 2026
J. G. VERMA & CO. (Regd.)
CHARTERED ACCOUNTANTS
301 - B, NIRANJAN,
99, MARINE DRIVE,
MUMBAI - 400 002
J. G. VERMA
A. G. VERMA
PHONE : 2281 3868
: 3904 4116
MOBILE : 9826931794
EMAIL : [email protected]
Ref. No.:
Independent Auditors’ Report on the consolidated financial results of W. H. Brady & Company Limited pursuant to Regulation 33 and Regulation 52 read with Regulation 63 (2) of the SEBI (Listing Obligations and Disclosures Requirements) regulations, 2015
The Board of Directors,
W. H. Brady & Company Limited,
Mumbai 400001.
Opinion
-
We have audited the annual consolidated financial results of W. H. Brady & Company Limited (hereinafter referred to as the “Holding Company”) and its subsidiary (Holding Company and its subsidiary together referred to as “the Group”) for the year ended 31st March, 2026 and the statement of consolidated assets and liabilities and the statement of consolidated cash flows as at and for the year ended on that date including the notes thereon (together referred to as the ‘consolidated financial results’), attached herewith, being submitted by the Holding 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 and based on the consideration of the reports of other auditors on separate audited financial statements of subsidiary, the aforesaid consolidated financial results:
i) include the annual financial results of Brady & Morris Engineering Company Limited;
ii) are presented in accordance with the requirements of Regulation 33 of the Listing Regulations in this regard; and
iii) 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 net profit and other comprehensive income and other financial information of the Group for the year ended 31st March, 2026 and the statement of consolidated assets and liabilities and the statement of consolidated cash flows as at and for the year ended on that date.
Basis for Opinion
- We conducted our audit in accordance with the Standards on Auditing (SAs) specified under Section 143(10) of the Act and other applicable authoritative pronouncements issued by the Institute of Chartered Accountants of India. 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 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 Code of Ethics. We believe that the audit evidence obtained by us and other auditors in terms of their reports referred to in “Other Matters” paragraph below, is sufficient and appropriate to provide a basis for our opinion on the consolidated annual financial results.
1
J. G. Verma & Co.
W. H. Brady & Company Limited
Independent Auditor's report on consolidated financial results (31-Mar-2026)
Management and Board of Director's Responsibilities for the Consolidated Financial Results
-
These consolidated financial results have been prepared on the basis of the annual consolidated financial statements. The Holding Company's Board of Directors are responsible for the preparation and presentation of these consolidated financial results that give a true and fair view of the net profit and other comprehensive income and other financial information of the Group and the statement of consolidated assets and liabilities and the statement of consolidated cash flows in accordance with the recognition and measurement principles laid down in the 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 Listing Regulations. The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting records in accordance with the provisions of the Act for 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 statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have been used for the purpose of preparation of the consolidated financial results by the Directors of the Holding Company, as aforesaid.
-
In preparing the consolidated financial results, the respective Board of Directors of the companies included in the Group are responsible for assessing the ability of the Group to continue as a going concern, disclosing, as applicable matters related to going concern and using the going concern basis of accounting unless the respective 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 financial reporting process of the Group.
Auditor's Responsibilities for the Audit of the Consolidated Annual Financial Results
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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 aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial results.
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As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit. We also:
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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,
J. G. Verma & Co.
W. H. Brady & Company Limited
Independent Auditor's report on consolidated financial results (31-Mar-2026)
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 on whether the Holding Company has adequate internal financial controls with reference to consolidated financial statements in place and the operating effectiveness of such controls. (Refer paragraph 15 below).
- Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Board of Directors.
- Conclude on the appropriateness of the Board of Director's 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 Group 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 consolidated 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 Group to cease to continue as a going concern.
- Evaluate the overall presentation, structure and content of the consolidated financial results, including the disclosures, and whether the consolidated financial results represent the underlying transactions and events in a manner that achieves fair presentation.
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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 such entities included in the consolidated financial results of which we are the independent auditors. For the other entities included in the consolidated financial results, which have been audited by other auditors, such other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely responsible for our audit opinion.
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We communicate with those charged with governance of the Holding Company of which we are the independent auditors 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.
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We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the Listing Regulations, as amended, to the extent applicable.
Other Matters
- We did not audit the financial statements of the subsidiary included in the consolidated financial results, whose financial statements reflect total assets of Rs. 6,928.45 lakhs and net assets of Rs. 5,294.56 lakhs as at March 31, 2026, total revenues of Rs. 7,589.7 lakhs, net profit after tax of Rs. 557.48 lakhs, and total comprehensive income of Rs. 563.15 lakhs for the year ended March 31, 2026, and net cash outflows of Rs. 2,212.20 lakhs for the year ended March 31, 2026, as considered in the consolidated financial results. These financial statements have been audited by other auditors whose reports have been furnished to us by the Management and our opinion on the consolidated financial results,
1
J. G. Verma & Co.
W. H. Brady & Company Limited
Independent Auditor's report on consolidated financial results (31-Mar-2026)
in so far as it relates to the amounts and disclosures included in respect of the subsidiary is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 10 above.
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Our opinion on the consolidated financial results is not modified in respect of the matters stated in paragraph 11 above with respect to our reliance on the work done and the reports of the other auditors and the financial information certified by the Management.
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The consolidated 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. Our opinion is not modified in respect of this matter.
For J. G. Verma & Co.
Chartered Accountants
(Registration No. 111381W)
Arun G. Verma
Partner
Membership No. 031898
UDIN: 26031898IBUJBM3382
Place : Mumbai
Date : 27th May, 2026
BRADYS W.H.BRADY & CO. LTD.
Quality, Our Legacy
CIN No. - L17110MH1913PLC000367
Regd. Office: BRADY HOUSE, 12-14, VEER NARIMAN ROAD, FORT, MUMBAI - 400001. INDIA
TEL.: (022) - 22048361-65 • E-mail: [email protected] • Website: www.bradys.in
Date: May 27, 2026
To,
Listing Department
BSE Limited
Phiroze Jeejeebhoy Towers,
Dalal Street, Fort,
Mumbai - 400001
Ref: Script Code - 501391
Sub: Declaration pursuant to Regulation 33(3)(d) of the SEBI (LODR) Regulations, 2015
In terms of Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015, we hereby declare that Audit Reports issued by M/s. J. G. Verma & Co., Statutory Auditors of the Company, on the Audited Financial Results (Standalone and Consolidated) for the financial year ended March 31, 2026 are with unmodified opinion.
Thanking you.
Yours faithfully,
For W. H. BRADY AND COMPANY LIMITED.
RAJENDER SHARMA
CHIEF FINANCIAL OFFICER
BRANCHES:
AUMEDABAD Tel: 02604 288000 Email: [email protected]
CHENNAI Tel: 014 54545540 E-mail: [email protected]
BRADYS Quality. Our Legacy
W.H.BRADY & Co. LTD.
CIN No. - L17110MH1913PLC000367
Regd. Office : BRADY HOUSE, 12-14, VEER NARIMAN ROAD, FORT, MUMBAI - 400001. INDIA
TEL.: (022) - 22048361-65 • E-mail : [email protected] • Website : www.bradys.in
ANNEXURE "A"
Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, read with SEBI circular no. SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 11th July, 2023 and last updated on January 30, 2026
Appointment of Internal Auditor:
| Disclosure Requirements | Details |
|---|---|
| Reason for change viz. appointment, reappointment, resignation, removal, death or otherwise | Re-appointment of M/s. Himank Desai & Co. and M/s. V. V. Kale & Co. as Internal Auditors of the Company. |
| Date of appointment / reappointment / cessation (as applicable) & term of appointment / reappointment | Date of Re-appointment: May 27, 2026. |
| Terms of Re-appointment: Appointed as Internal Auditors for FY 2026-27. | |
| Brief profile (in case of appointment) | M/s. Himank Desai & Co., Chartered Accountants established in 1979 with over 46 years of dedicated service. The firm offers expert services in Direct and Indirect Taxes, Statutory Audit, Internal audit and Company Law. Backed by a team of seasoned professionals, it serves a wide range of clients across industries, including major corporates. The firm is known for its commitment to quality, integrity and value-added service. |
| V. V. Kale & Co. was founded in 1979 by Mr. Vijay V. Kale and is one of the leading firms of Chartered Accountants in Northern India. The firm has offices in New Delhi & Noida. Our clientele is spread across India working in different sectors such as Infrastructure, FMCG, |
BRANCHES:
BRADYS
Quality. Our Legacy
W.H.BRADY & Co. LTD.
CIN No. - L17110MH1913PLC000367
Regd. Office : BRADY HOUSE, 12-14, VEER NARIMAN ROAD, FORT, MUMBAI - 400001. INDIA
TEL.: (022) - 22048361-65 • E-mail : [email protected] • Website : www.bradys.in
| | Financial Services, Information Technology, and Industrial Goods among others.
The firm provides various services such as Audit & Assurance, Direct & Indirect Taxation, International Taxation, Corporate Secretarial Services and Outsourced Services.
The main goal is to Deliver Exceptional Financial Services, Foster Strong Client Relationships and Achieve Professional Growth & Development. |
| --- | --- |
| Disclosure of Relationship between Directors (in case of appointment as a director) | N.A. |
BRANCHES:
• AHMEDARAD Tel : 02604 288000 • Email : [email protected] • CHEWAN • Brady
BRADYS Quality. Our Legacy
W.H.BRADY & Co. LTD.
CIN No. - L17110MH1913PLC000367
Regd. Office : BRADY HOUSE, 12-14, VEER NARIMAN ROAD, FORT, MUMBAI - 400001. INDIA
TEL.: (022) - 22048361-65 • E-mail : [email protected] • Website : www.bradys.in
ANNEXURE "B"
Disclosure of information pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulation, 2015, read with SEBI circular no. SEBI/HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 11th July, 2023 and last updated on January 30, 2026
Appointment of Company Secretary and Compliance Officer:
| S. No. | Details of the events | Information of the events |
|---|---|---|
| 1. | Name | Mr. Sanyo Rodrigues |
| Reason for change viz. | ||
| appointment, reappointment, | ||
| resignation, removal, death or | ||
| otherwise | The Board of Directors has based on the recommendations of the Nomination and Remuneration Committee, appointed Mr. Sanyo Rodrigues (ACS 80049) as Company Secretary & Compliance Officer with effect from June 01, 2026. | |
| 2. | Date of appointment / cessation | |
| (as applicable) & term of | ||
| appointment | June 01, 2026 | |
| Term: Not Applicable | ||
| 3. | Brief profile (in case of | |
| appointment) | Sanyo Rodrigues is an Associate Member of the Institute of Company Secretaries of India (ICSI) and holds a Bachelor's degree in Commerce from the University of Mumbai. He brings a well-rounded understanding of corporate legal frameworks and regulatory environments, enabling him to effectively navigate complex compliance landscapes with precision and confidence. |
He has experience across corporate laws, securities regulations, and governance functions, where he supports organization's in adhering to regulatory requirements and |
BRANCHES:
• AHMEDARAD Tel : 02694 - 288900 • Email : [email protected] • OVENNAI • Tel : 011310000000 • www.ahmedarad.com
BRADYS
Quality. Our Legacy
W.H.BRADY & Co. LTD.
CIN No. - L17110MH1913PLC000367
Regd. Office : BRADY HOUSE, 12-14, VEER NARIMAN ROAD, FORT, MUMBAI - 400001. INDIA
TEL.: (022) - 22048361-65 • E-mail : [email protected] • Website : www.bradys.in
| maintaining strong governance practices. His expertise spans secretarial compliances, capital-raising transactions, fund and governance audits, and FEMA compliances. | ||
|---|---|---|
| 4. | Disclosure of Relationship between Directors (in case of appointment as a director) | Not Applicable |
BRANCHES:
• AHMFNARAN Tel : 02694 - 288900 • Email : [email protected] • CHENNAI Tel : 044 24210010 • Email : [email protected]