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India Pre-Market Regulatory Roundup — May 28, 2026

India Before-Market Intelligence

By Gunpowder Editorial ·

3 high priority 47 medium priority 50 total filings analysed

Executive Summary

The overnight filing cycle (May 27-28, 2026) reveals a deeply polarized market landscape. While a handful of companies like Singer India, Suratwwala Business Group, and GMR Airports delivered standout operational performances with strong revenue and profit growth, the majority of filings signal significant stress.

A clear pattern of regulatory non-compliance emerged, with three major PSUs (IRFC, Balmer Lawrie, Oil India) receiving fines for board composition issues, highlighting a systemic governance gap in government-owned entities. The manufacturing and infrastructure sectors showed acute distress, with Loyal Textile Mills reporting a 42% YoY revenue plunge and a massive inventory impairment, while Quadrant Future Tek's cash losses deepened by 118%. A notable cluster of capital-raising activities is forming, with Ravindra Energy launching a ₹2,050 million rights issue and Swan Defence seeking up to ₹4,000 crore, suggesting these companies are in urgent need of liquidity. On the positive side, the real estate and consumer durables sectors showed resilience, with Suratwwala Business Group's revenue surging 177% YoY and Singer India posting a 73% profit jump. The most critical development is the Cello World scheme of arrangement, which could unlock significant value for Wim Plast shareholders, while the Uni-Abex Alloy Products special dividend of ₹60/share from a land sale represents a massive one-time payout. Overall, the market should brace for a 'flight to quality' as operational excellence is rewarded and stressed balance sheets are penalized.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Corporate governance · Corporate action · M&A

Tracking the trend? Catch up on the prior India Pre-Market Regulatory Roundup digest from May 27, 2026.

Investment Signals (12)

  • Revenue grew 29.1% YoY to ₹55,733 Lakh, net profit surged 72.7% YoY to ₹1,276 Lakh, with Q4 revenue up 36.7% YoY. Unmodified audit opinion and recommended 20% dividend. Strong execution in consumer durables space

  • Standalone revenue surged 176.9% YoY to ₹8,928.71 Lakhs, net profit jumped 184.0% YoY to ₹3,048.79 Lakhs. Q4 revenue grew 70.8% YoY. Unmodified audit opinion. Real estate boom continues

  • Turnaround story confirmed – standalone revenue grew 82.3% YoY to ₹494 crore, swinging from a net loss of ₹190.74 crore to a net profit of ₹142.05 crore. Strong recovery in airport operations

  • Consolidated revenue up 11.9% YoY, net profit up 20.8% YoY to ₹47,661 Lakhs. Composite Products segment grew 16.4% YoY. However, operating cash flow declined 45.8% YoY, a red flag for quality of earnings

  • Net profit surged 734% YoY to ₹27,986.21 Lakh, but this was entirely driven by a ₹27,353 Lakh exceptional gain from land sale. Excluding this, operating profit grew 64.6% YoY. Board declared ₹100/share total dividend (₹40 regular + ₹60 special) [BULLISH on dividend, MIXED on core]

  • Composite Scheme of Arrangement approved with effective date May 27, 2026. Record date for WPL shareholders is June 9, 2026. This could unlock value for Wim Plast shareholders through Cello World shares. QIP funds of ₹738 Cr fully utilized as per objects

  • Net profit more than doubled (123.2% YoY) to ₹1,319.14 Lakh despite revenue declining 38.3% YoY. However, Q4 net profit dropped 86.7% QoQ to just ₹29.55 Lakh, indicating a sharp slowdown. Cost-cutting seems to be driving profitability

  • Turnaround from net loss of ₹1,722 Lakh to net profit of ₹2,548 Lakh, driven by ₹3,741 Lakh share of profit from partnership firms. Presales booking grew 55.76% and customer collections grew 123.88% in Q4. Real estate recovery play

  • Revenue grew 39.6% YoY to ₹3,231.41 Lakh, but profit declined 7.2% YoY as expenses surged 95.4%. Newly listed SME company showing high growth but margin compression

  • Q4 revenue grew 18.0% YoY and turned profitable (₹28.90 Lakh vs loss of ₹36.58 Lakh). However, full-year net profit collapsed 99.1% to ₹34.12 Lakh from ₹3,812 Lakh in FY25, indicating a severe one-time event in the prior year

  • Corporate guarantee of INR 20 crore issued to RBL Bank for subsidiary's working capital. Unmodified audit opinion. No financial figures disclosed, but the guarantee signals support for subsidiary operations

  • Board meeting on June 2 to consider NCD issuance on private placement basis. Green finance company raising debt, indicating growth plans in the renewable energy lending space [NEUTRAL/BULLISH]

Risk Flags (12)

  • Q4 revenue collapsed 42% YoY to ₹8,184 Lakh, full-year net loss widened to ₹6,622 Lakh. Exceptional impairment of ₹36.46 Crore on inventories due to tariff uncertainties. Discontinued operations added ₹1,560 Lakh loss. Textile sector under severe pressure

  • Net loss widened 117.8% YoY to ₹-429.57 million. Auditor flagged cash loss in FY26, a deterioration from prior year when losses were non-cash. Train Collision Avoidance System division lost ₹-602.27 million, far exceeding Cable division's ₹49 million profit. Going concern risk

  • Net loss widened for third consecutive filing (₹314.63 Lakh loss in FY26). Qualified audit opinion due to NSEL transactions and ongoing PMLA proceedings. Government filed supplementary charge sheet under MPID Act. Civil suit for alleged ₹937 crore. Existential legal risk

  • Sold five semi-finished OSVs for ₹7,000 lakh against book value of ₹33,200 lakh, recording a book loss of ₹26,200 lakh. CFO resigned effective May 27. Seeking to raise ₹4,000 crore, indicating severe financial stress

  • Qualified audit opinion for non-provision of ₹97.57 lakh bad debt against debtor under NCLT. Debtors outstanding >1 year of ₹88.90 lakh and >3 years of ₹377.23 lakh with no provision. Packing material stock of ₹1,016.85 lakh is very high relative to consumption of ₹271.41 lakh

  • Material uncertainty flagged for Srinagar Banihal Expressway subsidiary with ₹2,509.46 million in disputed NHAI deductions. Another subsidiary (Hospet Chitradurga Tollways) project terminated by mutual consent, raising going concern issues. Group wrote off ₹723.48 million in receivables

  • IRFC / Governance Failure [MEDIUM RISK]

    Fined ₹19,11,600 for non-compliance with board composition and committee constitution. Repeated non-compliance since March 2021. Government company unable to appoint independent directors due to Ministry of Railways delays. Systemic governance risk

  • Fined ₹7,50,480 for lacking Independent Director, Woman Director, and Independent Woman Director for 4 days. NRC had no Non-Executive Directors for 2.5 months. Ministry of Petroleum & Natural Gas delays in appointments

  • Fined ₹5,49,880 each from NSE and BSE for non-compliance with independent director requirements. Government company where appointments are beyond its control. Third PSU with similar governance issue in this batch

  • Board meeting lasted 8 hours but could not finalize audited results, deferring to May 29. 'Paucity of time' and 'need for clarifications' cited. Could indicate internal control issues or contentious accounting treatments

  • Net loss increased 18.1% YoY to ₹503.72 Lakh. Revenue declined 5.8% YoY. High finance costs of ₹478.55 Lakh including notional lease interest of ₹440.07 Lakh. Lease agreement with AAI for 30 years adds long-term liability

  • CFO Mr. Gourav Modi resigned effective June 25, 2026, due to personal reasons. Key management departure during results season could signal internal issues

Opportunities (10)

  • Board declared total dividend of ₹100 per share (1000%), including a special dividend of ₹60 from Thane land sale proceeds. Record date not yet announced, but this represents a massive 10%+ dividend yield opportunity at current prices. Ex-date play

  • Record date for Wim Plast shareholders is June 9, 2026. Shareholders of WPL will receive Cello World shares. Potential arbitrage opportunity if WPL trades at a discount to the implied value of Cello World shares. Scheme effective from April 1, 2025

  • Revenue up 29.1% YoY, net profit up 72.7% YoY with unmodified audit opinion. Q4 showed acceleration (revenue +36.7% YoY, profit +45.7% YoY). At current valuation, this could be a compounder in the consumer durables space

  • Revenue growth of 176.9% YoY and profit growth of 184% YoY with clean audit opinion. Finance costs rising 111.8% YoY is a concern, but the growth trajectory suggests strong demand in the real estate sector

  • Swung from loss of ₹190.74 crore to profit of ₹142.05 crore. Revenue grew 82.3% YoY. Emphasis of matter on tariff disputes is a known overhang, but the operational turnaround is clear. If tariff issues resolve, significant upside

  • Turnaround from loss to profit driven by partnership firm profits. Presales booking growth of 55.76% and customer collection growth of 123.88% in Q4 indicate strong demand. Small-cap real estate play with improving fundamentals

  • Composite Products segment grew 16.4% YoY with segment profit up 21.5% YoY. Finance costs declined 12.8% YoY. Capital work-in-progress tripled to ₹22,977 Lakh, indicating significant expansion. Dip in operating cash flow needs monitoring but growth story intact

  • Declared interim dividend of ₹4 per share with record date of June 12, 2026. Payment by June 24. Dividend yield play for income-focused investors

  • Board proposed increasing borrowing limits from ₹3,500 crore to ₹5,000 crore, signaling aggressive growth plans. Final dividend of ₹0.60 per share recommended. Infrastructure play with expansion appetite

  • Earnings conference call scheduled for June 2, 2026 at 4:00 PM IST. Dental products company with niche market position. Call could provide positive guidance

Sector Themes (6)

  • PSU Governance Crisis

    Three major PSUs (IRFC, Balmer Lawrie, Oil India) received fines for non-compliance with SEBI board composition norms. All cite government delays in appointing independent directors. This systemic issue affects investor confidence in PSU governance and could lead to further regulatory action. The fines are small (₹5-19 lakhs) but the reputational damage is significant.

  • Textile & Manufacturing Distress

    Loyal Textile Mills (revenue -42% YoY) and Quadrant Future Tek (loss +118% YoY) highlight severe stress in the manufacturing sector. Tariff uncertainties, geopolitical headwinds, and inventory impairments are common themes. The textile sector appears to be in a cyclical downturn with no immediate recovery signs.

  • Real Estate & Infrastructure Resilience

    Suratwwala Business Group (revenue +177% YoY), Nimbus Projects (turnaround to profit), and Ramky Infrastructure (UAE subsidiary incorporation) show that the real estate and infrastructure sectors remain robust. Strong presales growth and collections indicate sustained demand. This contrasts sharply with manufacturing stress.

  • Capital Raising Surge

    Ravindra Energy (₹2,050 million rights issue), Swan Defence (₹4,000 crore fundraise), and Mufin Green Finance (NCD issuance) indicate a wave of capital raising. This suggests companies are either funding growth or addressing liquidity crunches. Investors should scrutinize the use of proceeds carefully.

  • One-Time Gains Masking Core Performance

    Uni-Abex (₹27,353 Lakh land sale gain) and Paul Merchants (profit up 123% despite revenue down 38%) show that headline profit numbers can be misleading. Investors need to strip out exceptional items to assess underlying business health. The Uni-Abex special dividend is a direct pass-through of the one-time gain.

  • Consumer Durables & FMCG Outperformance

    Singer India (revenue +29% YoY, profit +73% YoY) and Cello World (scheme of arrangement, QIP funds fully utilized) show that consumer-facing companies are performing well. This sector appears to be benefiting from urban consumption recovery and premiumization trends.

Watch List (10)

  • Failed to finalize audited results on May 27 after 8-hour meeting. Rescheduled for May 29, 2026. Watch for potential adverse findings or accounting irregularities. Stock could be volatile on result day.

  • Record date June 8, issue open June 16-24. Rights issue at ₹101/share (face value ₹10). Watch for subscription levels and potential price adjustments. Existing shareholders need to decide on participation.

  • Record date for Wim Plast shareholders is June 9, 2026. Watch for price discovery between WPL and Cello World shares. Arbitrage opportunity may emerge.

  • Rescheduled to May 29 at 12:30 PM IST. Logistics sector performance indicator. Watch for commentary on demand trends and margin outlook.

  • Scheduled for June 1, 2026 at 5:00 PM IST. Key indicator for railway and defense sector. Watch for order book updates and guidance.

  • Participating in Morgan Stanley (June 2) and BofA (June 3) conferences. Watch for any color on demand trends in the paints sector, especially given competitive pressures.

  • Meeting on June 2, 2026. Watch for commentary on steel prices, demand from China, and capex plans. Key indicator for the metals sector.

  • AGM on July 10, record date July 3 for dividend eligibility. Watch for dividend announcement and management commentary on NIMs and asset quality.

  • Board approved raising up to ₹4,000 crore. Watch for details on the mode of fundraising (QIP, rights, etc.) and investor interest. CFO resignation adds uncertainty.

  • Board meeting on June 2 to consider NCD issuance. Watch for coupon rates and size. Indicator of green finance sector growth and credit availability.

Filing Analyses (50)
Paul Merchants Ltd. Corporate Governance mixed materiality 8/10

27-05-2026

Paul Merchants Ltd. reported standalone revenue from operations of ₹205,590.99 Lakh for FY2026, down 38.3% from ₹332,857.84 Lakh in FY2025. Net profit for the year rose to ₹1,319.14 Lakh from ₹590.98 Lakh, a 123.2% increase. However, Q4 FY2026 revenue was ₹41,201.99 Lakh, a 17.5% decline from ₹49,950.52 Lakh in Q3 FY2026, while Q4 net profit was ₹29.55 Lakh compared to ₹1.92 Lakh in Q3.

  • · Audit reports have unmodified opinion.
  • · Consolidated results include three wholly owned subsidiaries and two LLPs.
  • · Basic EPS for FY2026: ₹42.17 (face value ₹10 each) vs ₹19.15 in FY2025.
  • · Total comprehensive income for FY2026: ₹1,327.05 Lakh vs ₹569.02 Lakh in FY2025.
  • · Reserves excluding revaluation reserve as on 31/03/2026: ₹49,214.05 Lakh.
TCI Express Limited Analyst/Investor Meet neutral materiality 3/10

27-05-2026

TCI Express Limited has rescheduled its Q4/FY26 earnings conference call to May 29, 2026 at 12:30 PM IST, organized by PhillipCapital. The call will discuss audited financial results for the quarter and year ended March 31, 2026, with participation from Managing Director Chander Agarwal, Executive Director & CFO Mukti Lal, and Chief Business Officer Pabitra Mohan Panda.

  • · Conference call scheduled for Friday, May 29, 2026 at 12:30 PM IST.
  • · Call organized by PhillipCapital.
  • · Mode of meeting: Virtual conference call (group call).
  • · Registration requires DiamondPass™ with no wait time.
  • · Dial-in numbers provided for India, USA, UK, Singapore, and Hong Kong.
NK Industries Limited Corporate Governance negative materiality 8/10

27-05-2026

NK Industries Limited reported a standalone net loss of ₹314.63 Lakhs for the year ended March 31, 2026, widening from a loss of ₹277.35 Lakhs in the prior year. Total income declined to ₹304.51 Lakhs from ₹288.47 Lakhs, while total expenditure increased to ₹615.73 Lakhs from ₹574.26 Lakhs. The auditor's report contains qualifications related to ongoing litigation with NSEL and proceedings under the Prevention of Money Laundering Act, 2002, and the company continues to face significant legal and financial uncertainties.

  • · The Board meeting commenced at 3:30 PM and concluded at 7:00 PM on May 27, 2026.
  • · Ashok P Patel & Co was appointed as Internal Auditor for FY 2026-27.
  • · The auditor's report contains qualifications regarding transactions with NSEL from FY 2012-13 and ongoing proceedings under the Prevention of Money Laundering Act, 2002.
  • · The company has filed an appeal before the PMLA Appellate Tribunal, Delhi regarding attachment of assets.
  • · Government of Maharashtra filed a supplementary charge sheet under MPID Act on December 25, 2018, and the matter is adjourned to June 23, 2026.
  • · Cash and cash equivalents stood at ₹61.50 Lakhs as of March 31, 2026, marginally up from ₹61.00 Lakhs a year ago.
  • · Total assets decreased to ₹28,647.82 Lakhs from ₹28,839.34 Lakhs.
  • · Other equity (reserves) remained deeply negative at (₹35,492.13) Lakhs, worsening from (₹35,218.24) Lakhs.
MM Forgings Limited Corporate Action neutral materiality 5/10

27-05-2026

MM Forgings Limited has declared an interim dividend of ₹4 per share, subject to shareholder approval, with payment due on or before June 24, 2026. The record date for determining eligible shareholders is fixed as June 12, 2026. No other financial metrics or performance comparisons were provided in this filing.

  • · Interim dividend of ₹4 per share is subject to shareholder approval.
  • · Record date for dividend eligibility is June 12, 2026.
  • · Dividend payment deadline is on or before June 24, 2026.
Sai Parenterals Ltd Analyst/Investor Meet neutral materiality 2/10

27-05-2026

Sai Parenterals Ltd has informed the stock exchanges that the audio recording of its post-earnings conference call for Q4 and the year ended March 31, 2026, held on May 27, 2026, is now available on the company's website. The filing provides no financial figures or performance details.

  • · The audio recording link is https://www.saiparenterals.com/announcements/earnings.mpeg
  • · The call covered Q4 and the full year ended March 31, 2026
  • · The filing was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Emiac Technologies Ltd Corporate Governance mixed materiality 7/10

27-05-2026

Emiac Technologies Ltd reported audited standalone financial results for the half year and year ended March 31, 2026. Revenue from operations for the full year was ₹3,231.41 Lakh, up from ₹2,314.10 Lakh in FY2025, a 39.6% increase. However, profit after tax declined to ₹422.01 Lakh from ₹454.70 Lakh in the prior year, a 7.2% decrease, reflecting higher expenses. The board also approved the appointment of Archit Wadhwa as an Additional Non-Executive Independent Director.

  • · The company's equity shares were listed on the SME Platform of BSE on April 13, 2026.
  • · Total expenses for FY2026 were ₹2,760.81 Lakh, up from ₹1,412.79 Lakh in FY2025, a 95.4% increase.
  • · Employee benefit expenses for FY2026 were ₹108.45 Lakh vs ₹64.07 Lakh in FY2025.
  • · Advertising and marketing expenses for FY2026 were ₹978.80 Lakh vs ₹853.62 Lakh in FY2025.
  • · Other expenses for FY2026 were ₹969.66 Lakh vs ₹129.78 Lakh in FY2025.
  • · Finance costs for FY2026 were ₹104.70 Lakh vs ₹25.10 Lakh in FY2025.
  • · Depreciation and amortization expense for FY2026 was ₹120.00 Lakh vs ₹104.40 Lakh in FY2025.
  • · Earnings per share (basic) for FY2026 was ₹4.97 vs ₹5.08 in FY2025.
  • · Share capital increased to ₹900.31 Lakh as at March 31, 2026 from ₹171.00 Lakh as at March 31, 2025.
  • · Reserves and surplus increased to ₹366.22 Lakh from ₹73.38 Lakh.
  • · Trade receivables decreased to ₹463.51 Lakh from ₹768.56 Lakh.
  • · Cash and bank balances increased to ₹1,401.57 Lakh from ₹465.17 Lakh.
  • · Short-term borrowings increased to ₹40.27 Lakh from ₹0.83 Lakh.
  • · Trade payables (MSME) increased to ₹29.40 Lakh from ₹10.08 Lakh.
Paul Merchants Ltd. Corporate Governance mixed materiality 8/10

27-05-2026

Paul Merchants Ltd. reported its audited standalone financial results for the quarter and year ended March 31, 2026. For the full year, revenue from operations declined 38.2% to ₹205,590.99 Lakh from ₹332,857.84 Lakh in the prior year, while net profit more than doubled to ₹1,319.14 Lakh from ₹590.98 Lakh. However, for the quarter ended March 31, 2026, revenue fell 28.7% sequentially to ₹41,201.99 Lakh and net profit dropped 86.7% from the preceding quarter, reflecting a sharp slowdown in the final quarter.

  • · Audit reports for standalone and consolidated financial results carry an unmodified opinion.
  • · Consolidation includes three wholly owned subsidiaries: Paul Merchants Finance Private Limited, Paul Merchants Realtors Private Limited, and Paul Infotech Private Limited.
  • · Also consolidated: Paul Landscape Realtors LLP (95% profit sharing interest via Paul Merchants Realtors) and SSBRO Infra Surge LLP (33% profit sharing interest via Paul Merchants Realtors).
  • · Basic EPS for FY26: ₹42.17 (face value ₹10 each), up from ₹19.15 in FY25.
  • · Basic EPS for Q4 FY26: ₹0.95, down from ₹1.70 in Q4 FY25.
  • · Total comprehensive income for FY26: ₹1,327.05 Lakh vs ₹569.02 Lakh in FY25.
  • · Reserves (excluding revaluation reserve) as on March 31, 2026: ₹49,214.05 Lakh.
  • · Exceptional items of ₹5.00 Lakh in FY26 (same as FY25) and ₹125.90 Lakh in FY25 (prior year).
Asian Paints Limited Analyst/Investor Meet neutral materiality 1/10

27-05-2026

Asian Paints Limited informed stock exchanges about its participation in the Morgan Stanley India Group Investment Forum 2026 on June 2, 2026, and the BofA India Conference on June 3, 2026, both in Mumbai. The company stated that no unpublished price-sensitive information will be shared during these meetings.

  • · Meeting on June 2, 2026, at 10:00 a.m. onwards (Morgan Stanley India Group Investment Forum 2026)
  • · Meeting on June 3, 2026, at 3:00 p.m. onwards (BofA India Conference)
  • · Both meetings are in Mumbai and include one-on-one and group sessions
Axis Bank Limited Analyst/Investor Meet neutral materiality 1/10

27-05-2026

Axis Bank Limited informed the exchanges about an analyst/institutional investor meet held on May 27, 2026, at the 360 ONE Capital (B&K) 16th Annual Investor Conference in Mumbai. A presentation was made available on the bank's website. The filing does not disclose financial figures or business performance metrics.

  • · Filing reference number: AXIS/CO/CS/136/2026-27
  • · Meet held at 360 ONE Capital (B&K) 16th Annual Investor Conference in Mumbai
  • · Presentation available online at the bank's shareholders corner
Orient Technologies Limited Corporate Governance mixed materiality 6/10

27-05-2026

Orient Technologies Limited's Board of Directors approved audited consolidated and standalone financial results for the quarter and year ended March 31, 2026, and re-appointed M/s Santosh Ghag & Co. as internal auditors for FY 2026-27. However, the company also announced the resignation of CFO Mr. Gourav Modi, effective June 25, 2026, due to personal reasons. No financial figures or performance metrics were disclosed in this filing.

  • · Board meeting commenced at 3:00 PM IST and concluded at 8:00 PM IST on May 27, 2026.
  • · Audited financial results have been uploaded on BSE, NSE, and the company's website.
  • · M/s Santosh Ghag & Co. has over three decades of experience in financial, auditing, tax, and advisory services.
  • · CFO resignation effective from close of business hours on June 25, 2026.
Sri Havisha Hospitality and Infrastructure Limited Corporate Governance negative materiality 8/10

27-05-2026

Sri Havisha Hospitality and Infrastructure Limited reported a net loss of ₹503.72 Lakh for the year ended March 31, 2026, compared to a net loss of ₹426.58 Lakh in the prior year, representing a 18.1% increase in losses. Total income declined 5.8% YoY to ₹1,491.93 Lakh from ₹1,584.15 Lakh, while total expenses rose marginally to ₹2,062.22 Lakh from ₹2,051.31 Lakh. The company continues to face headwinds from high finance costs (including a notional lease interest of ₹440.07 Lakh) and a one-time gratuity charge of ₹10.56 Lakh, though the auditors issued an unmodified opinion.

  • · The company executed a lease agreement with Airports Authority of India for renewal of leasehold rights for another 30 years from 2023.
  • · Finance cost of ₹478.55 Lakh includes notional interest on lease liability of ₹440.07 Lakh.
  • · A payment of ₹99.91 Lakh was made to TGSPDCL under protest for Cross Subsidy Surcharge; the matter is sub-judice before the Telangana High Court.
  • · A one-time gratuity charge of ₹10.56 Lakh was recognized due to reassessment under the new labour code.
  • · The auditors issued an unmodified opinion on the financial results.
  • · Basic and diluted earnings per share for FY26 were negative ₹0.12 (vs negative ₹0.19 in FY25).
Shree Karthik Papers Ltd. Corporate Governance mixed materiality 7/10

27-05-2026

Shree Karthik Papers Ltd. reported audited standalone financial results for Q4 and FY ended March 31, 2026. Revenue from operations for the quarter was ₹1,674.43 Lakhs, up 18.0% YoY from ₹1,419.42 Lakhs, while net profit turned positive at ₹28.90 Lakhs versus a loss of ₹36.58 Lakhs in Q4 FY25. However, for the full year, revenue grew only 9.4% to ₹6,347.77 Lakhs and net profit declined 99.1% to ₹34.12 Lakhs from ₹3,812 Lakhs in FY25, indicating a sharp deterioration in profitability.

  • · Total comprehensive income for FY26 was ₹34.12 Lakhs vs ₹16.25 Lakhs in FY25, an increase of 110%.
  • · Other income for FY26 was ₹167.34 Lakhs vs ₹29.70 Lakhs in FY25, a 463% increase.
  • · Finance cost for FY26 was ₹52.74 Lakhs vs ₹58.32 Lakhs in FY25, a decrease of 9.6%.
  • · Depreciation for FY26 was ₹85.36 Lakhs vs ₹88.72 Lakhs in FY25, a decrease of 3.8%.
  • · Total assets as of March 31, 2026 were ₹13,669.11 Lakhs vs ₹3,340.67 Lakhs as of March 31, 2025, a 309% increase.
  • · Total equity as of March 31, 2026 was ₹955.50 Lakhs vs ₹694.31 Lakhs as of March 31, 2025, a 37.6% increase.
  • · Cash and cash equivalents at year end were ₹3.3 Lakhs vs ₹1.58 Lakhs at the beginning of the year.
  • · The company has a single operating segment: manufacture of writing and printing papers.
NK Industries Limited Corporate Governance negative materiality 8/10

27-05-2026

NK Industries Limited reported a standalone net loss of ₹314.63 Lakhs for the year ended March 31, 2026, compared to a loss of ₹311.22 Lakhs in the prior year, reflecting a 1.1% increase in losses. Total income declined 5.2% to ₹288.47 Lakhs from ₹304.51 Lakhs, while total expenditure rose 4.5% to ₹574.26 Lakhs from ₹615.73 Lakhs. The company continues to face significant legal and regulatory challenges, including ongoing proceedings related to NSEL transactions and attachments under the MPID Act, which have resulted in a qualified audit opinion.

  • · The company's standalone net loss for Q4 FY26 was ₹69.56 Lakhs, compared to a loss of ₹49.49 Lakhs in Q3 FY26 and a loss of ₹41.41 Lakhs in Q4 FY25.
  • · Total comprehensive income for FY26 was a loss of ₹353.29 Lakhs, compared to a loss of ₹273.90 Lakhs in FY25.
  • · The auditor's report contains qualifications regarding transactions with NSEL and proceedings under the Prevention of Money Laundering Act, 2002.
  • · The company has negative reserves of ₹35,492.13 Lakhs as of March 31, 2026, compared to negative reserves of ₹35,218.24 Lakhs as of March 31, 2025.
  • · Total assets decreased to ₹28,647.82 Lakhs from ₹28,839.34 Lakhs as of March 31, 2025.
  • · The board appointed Ashok P Patel & Co as internal auditor for FY 2026-27.
  • · The board meeting commenced at 3:30 PM and concluded at 7:00 PM on May 27, 2026.
Carraro India Limited Analyst/Investor Meet neutral materiality 3/10

27-05-2026

Carraro India Limited announced the availability of an audio recording of its earnings conference call held on May 27, 2026, covering the audited financial results for the quarter and fiscal year ended March 31, 2026. The call was conducted at 8:30 AM IST and the recording is accessible on the company's website. No specific financial figures or performance metrics are disclosed in this filing.

  • · The audio recording is available at: https://www.carraroindia.com/storage/app/uploads/public/6a1/6eb/721/carraro_india_q4fy26_earnings_call_audio_recording__6a16eb721e42a111389962.mp3
  • · The filing references Regulation 30 and Regulation 46(2)(oa) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
  • · The earnings call was intimated on May 16, 2026.
AXISCADES Technologies Limited Corporate Governance neutral materiality 6/10

27-05-2026

AXISCADES Technologies Limited's Board approved audited financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The company also issued a corporate guarantee of INR 20 crore to RBL Bank for working capital credit facilities of its wholly owned subsidiary, AXISCADES Aerospace & Technologies Private Limited. The filing does not include period-over-period financial comparisons, so no growth or decline metrics are available.

  • · Audit reports issued with unmodified opinion for both standalone and consolidated financial results for Q4 and FY ended March 31, 2026.
  • · The corporate guarantee of INR 20 crore is for working capital credit facilities of the wholly owned subsidiary, AXISCADES Aerospace & Technologies Private Limited.
  • · The guarantee will subsist with the tenor of the loan, and the promoters/promoter group have no interest in this transaction.
  • · Eleven subsidiaries reported a combined net loss after tax of Rs. 1,758.79 lakhs for the quarter and Rs. 1,737.48 lakhs for the year ended March 31, 2026.
IL&FS Engineering and Construction Company Limited Corporate Governance neutral materiality 3/10

27-05-2026

IL&FS Engineering and Construction Company Limited has re-appointed M/s. Narasimha Murthy & Co., Cost Accountants, as its Cost Auditors for FY 2026-2027 to audit cost records for road and other infrastructure projects. The re-appointment was approved by the Board on May 27, 2026, upon the recommendation of the Audit Committee, with terms unchanged from the prior period plus applicable GST and out-of-pocket expenses. No financial figures or performance metrics were disclosed in this filing.

  • · Cost Auditor firm M/s. Narasimha Murthy & Co. was established in 1983 and provides services including Cost Audit, GST Audits, Cost Reduction Programmes, SWOT Analysis, Management Audit, Business Valuations, and Strategic Planning.
  • · The audit covers cost records for road and other infrastructure projects for the financial year April 1, 2026 to March 31, 2027.
  • · No relationships between directors were disclosed (N.A.).
Tata Steel Limited Analyst/Investor Meet neutral materiality 3/10

27-05-2026

Tata Steel Limited has informed the stock exchanges about a scheduled investor meeting on June 2, 2026, at the Bank of Americas India Conference 2026 in Mumbai. The meeting will be a one-to-one or group meeting with analysts and institutional investors.

  • · Meeting date: June 2, 2026
  • · Venue: Bank of Americas India Conference 2026, Mumbai
  • · Type: One-to-One / Group Meeting
Indian Railway Finance Corporation Limited Regulatory Action negative materiality 6/10

27-05-2026

Indian Railway Finance Corporation Ltd. (IRFC) received fines totaling ₹19,11,600 (₹9,55,800 each from BSE and NSE, inclusive of GST) for non-compliance with SEBI Listing Regulations concerning board composition and committee constitution for the quarter ended March 31, 2026. The company states the fines have no quantifiable financial impact and has requested a waiver, noting that similar fines were previously waived for the period March 2021 to December 2025.

  • · Non-compliance relates to Regulations 17(1), 18(1), 19(1)/19(2) regarding composition of the Board and constitution of Audit, Nomination and Remuneration committees.
  • · IRFC is a Government Company; the power to appoint Directors vests with the President of India through the Ministry of Railways.
  • · The company has made repeated requests to the Ministry of Railways for appointment of requisite independent directors (including one woman independent director).
  • · Similar fines for non-compliance from March 2021 to December 2025 were previously waived by NSE and BSE.
  • · IRFC has requested a waiver of the current fines from both exchanges.
Sunil Agro Foods ltd. Corporate Governance mixed materiality 8/10

27-05-2026

Sunil Agro Foods Limited filed its audited financial results for the quarter and year ended March 31, 2026, with a qualified audit opinion from GRV&PK Chartered Accountants. The qualification relates to non-provision of bad debt of ₹97.57 lakh against debtor Maiyas Beverage and Foods Private Limited, which is under NCLT proceedings. While revenue from operations for the year declined 14.8% YoY to ₹19,512.99 lakh, the company returned to profitability with a net profit of ₹39.71 lakh compared to a net loss of ₹109.43 lakh in the prior year.

  • · Auditor's qualified opinion due to non-provision of bad debt of ₹97.57 lakh against Maiyas Beverage and Foods Private Limited, which was referred to NCLT under IBC and NCLT ordered only 15.14% payment to creditors.
  • · Emphasis of matter: Debtors outstanding >1 year ₹88.90 lakh (incl. disputed ₹66.52 lakh), >2 years ₹9.61 lakh, >3 years ₹377.23 lakh (incl. disputed ₹162.95 lakh) with no bad debt provision.
  • · Packing material stock at year-end (₹1016.85 lakh) is very high relative to consumption (₹271.41 lakh), noted as an emphasis of matter.
  • · Quarterly revenue for Q4 FY26 was ₹4,497.84 lakh, down from ₹5,949.27 lakh in Q4 FY25 (24.4% decline).
  • · Quarterly net profit for Q4 FY26 was ₹21.98 lakh vs ₹4.99 lakh in Q4 FY25 (340% increase).
  • · Basic and diluted EPS for FY26: ₹1.32 (vs ₹-3.64 in FY25).
  • · Total comprehensive income for FY26: ₹41.96 lakh (vs ₹-109.66 lakh in FY25).
Prevest Denpro Limited Analyst/Investor Meet neutral materiality 3/10

27-05-2026

Prevest Denpro Limited has scheduled an earnings conference call for Q4 FY26 results on June 2, 2026, at 4:00 PM IST. The call will feature key management including Chairman & MD Atul Modi and CFO Namrata Modi. This is an informational filing regarding the meeting schedule, with no financial results disclosed yet.

  • · The earnings call is scheduled for Tuesday, June 2, 2026, at 4:00 PM IST.
  • · Primary dial-in numbers: +91 22 7115 8084 and +91 22 6280 1361.
  • · International toll-free numbers provided for USA, UK, Singapore, and Hong Kong.
  • · The meeting is organized by Hem Securities Ltd.
Loyal Textile Mills Limited Corporate Governance negative materiality 9/10

27-05-2026

Loyal Textile Mills reported a standalone net loss of ₹1,728 Lakhs for Q4 FY26, compared to a profit of ₹4,075 Lakhs in Q4 FY25, while full-year net loss widened to ₹6,622 Lakhs from ₹5,468 Lakhs in FY25. Revenue from operations fell 42% YoY to ₹8,184 Lakhs in Q4 and 33% YoY to ₹42,196 Lakhs for the full year, driven by tariff uncertainties, geopolitical headwinds, and rationalisation of business segments. The company recognised an exceptional impairment charge of ₹36.46 Crore on inventories, partly offset by a ₹33.81 Crore gain on asset sales, and continues to monetise non-core assets to reduce debt and improve liquidity.

  • · The statutory auditors issued an unmodified opinion with emphasis of matter on the audited standalone and consolidated financial results for FY26.
  • · Exceptional items for FY26 include an impairment charge of ₹36.46 Crore on inventories due to tariff uncertainties and geopolitical developments, a gain of ₹33.81 Crore on sale of surplus assets (land, wind mills, idle plant), and an incremental gratuity obligation of ₹1.07 Crore under the new labour code.
  • · Discontinued operations (SVTM and CTM units) contributed a net loss of ₹1,560 Lakhs in FY26, compared to a loss of ₹4,004 Lakhs in FY25.
  • · Total assets declined 39% to ₹48,999 Lakhs as at 31 March 2026 from ₹80,770 Lakhs a year earlier, driven by a 45% reduction in current assets and a 35% reduction in non-current assets.
  • · Cash and cash equivalents improved to ₹52 Lakhs from ₹23 Lakhs at the end of FY25, while net cash flow from operating activities was ₹8,857 Lakhs in FY26 (vs ₹14,798 Lakhs in FY25).
  • · The company has classified assets worth ₹1,458 Lakhs as 'held for sale' as part of its ongoing asset monetisation strategy.
  • · No current tax was recognised for FY26 due to losses from continuing and discontinued operations combined with exceptional items.
Suratwwala Business Group Limited Corporate Governance positive materiality 8/10

27-05-2026

Suratwwala Business Group Limited reported audited standalone financial results for Q4 FY26 and FY26, with revenue from operations surging 70.8% YoY to ₹3,641.82 Lakhs in Q4 and 176.9% YoY to ₹8,928.71 Lakhs for the full year. Net profit for Q4 rose 65.3% YoY to ₹1,031.36 Lakhs, and full-year net profit jumped 184.0% to ₹3,048.79 Lakhs. However, other income turned negative in Q4 (₹-26.10 Lakhs vs ₹-6.65 Lakhs in Q4 FY25), and the company's finance costs increased significantly, rising 87.2% YoY in Q4 and 111.8% YoY for the full year.

  • · The auditor's report expressed an unmodified opinion on the standalone annual financial results.
  • · The Board re-appointed M/s Joshi and Sahney Chartered Accountants as Internal Auditors for FY 2026-2027.
  • · The trading window for designated persons was closed from April 1, 2026 until 48 hours after the results declaration.
  • · Other income for Q4 FY26 was negative at ₹-26.10 Lakhs, compared to ₹-6.65 Lakhs in Q4 FY25.
  • · Finance costs for FY26 increased 111.8% YoY to ₹28.82 Lakhs from ₹13.60 Lakhs in FY25.
  • · Total comprehensive income for FY26 was ₹3,056.62 Lakhs, up from ₹1,061.20 Lakhs in FY25.
  • · Basic EPS for FY26 was ₹1.76, up from ₹0.62 in FY25.
Craftsman Automation Limited Analyst/Investor Meet neutral materiality 5/10

27-05-2026

Craftsman Automation Limited held one-on-one physical meetings with analysts/institutional investors on May 27, 2026. The company confirmed that no unpublished price sensitive information was shared during these interactions.

Uni-Abex Alloy Products Ltd. Corporate Governance mixed materiality 8/10

27-05-2026

Uni-Abex Alloy Products Ltd. reported a net profit of ₹27,986.21 lakh for FY2025-26, a massive increase from ₹3,357.30 lakh in FY2024-25, driven by an exceptional gain of ₹27,353.05 lakh from the sale of its Thane investment property. Revenue from operations grew 13.3% to ₹21,878.41 lakh from ₹19,308.61 lakh, while other income rose to ₹949.73 lakh from ₹698.15 lakh. However, the company's quarterly performance was mixed: Q4 FY2026 revenue of ₹7,829.03 lakh was up 30.2% YoY from ₹6,014.35 lakh, but net profit of ₹25,762.95 lakh was heavily inflated by the exceptional item, compared to ₹1,264.25 lakh in Q4 FY2025. The Board recommended a total dividend of ₹100 per share (1000%), comprising a final dividend of ₹40 per share (400%) and a special dividend of ₹60 per share (600%) from the land sale proceeds. Additionally, Mr. Nisar Hassan was elevated from COO & Manager to CEO with immediate effect.

  • · The Board meeting was held on 27 May 2026, commenced at 5:10 p.m. IST and concluded at 7:50 p.m. IST.
  • · The company is not a Large Corporate as per SEBI Circular criteria.
  • · The exceptional gain of ₹27,353.05 lakh from the Thane land sale is net of selling expenses of ₹653.65 lakh and carrying value of ₹12.72 lakh.
  • · Total consideration for the Thane land sale was ₹28,019.42 lakh.
  • · The company has only one operating segment: 'Alloy and Steel Castings'.
  • · The impact of the new Labour Codes (effective 21 November 2025) on employee benefit expenses is assessed as nominal.
  • · The record date and AGM date for the dividend will be intimated separately.
  • · Mr. Nisar Hassan's email as CEO is nisar.hassan@uniabex.com.
TITAGARH RAIL SYSTEMS LIMITED Analyst/Investor Meet neutral materiality 3/10

27-05-2026

TITAGARH RAIL SYSTEMS LIMITED has informed the stock exchanges that its Q4 & FY26 Earnings Conference Call for analysts and investors will be held on Monday, 1st June 2026 at 5:00 PM IST via audio call. The call will feature key management including Vice Chairman & Managing Director Mr. Umesh Chowdhary, Dy. Managing Directors, and CFO. This is a forward-looking notice with no financial figures disclosed.

  • · Earnings call scheduled for Monday, 1st June 2026 at 5:00 PM IST via audio call
  • · Pre-registration link provided for participants
  • · International toll-free dial-in numbers available for Hong Kong, Singapore, UK, and US
  • · Recording and transcript will be uploaded on the company website after the call
  • · Company CIN: L27320WB1997PLC084819
  • · Registered office: Poddar Point, 10th Floor, 113 Park Street, Kolkata 700016
  • · Corporate office: Titagarh Towers, 756 Anandapur, E.M Bypass, Kolkata 700107
NK Industries Limited Corporate Governance negative materiality 8/10

27-05-2026

NK Industries reported a standalone net loss of ₹314.63 Lakhs for FY26, widening from ₹277.35 Lakhs loss in FY25, with total income declining to ₹288.47 Lakhs from ₹304.51 Lakhs. The auditor's report contains qualifications regarding NSEL-related transactions and ongoing legal proceedings, including a civil suit for alleged ₹937 crore. The company also appointed Ashok P Patel & Co as internal auditor for FY27.

  • · Auditor's report contains qualifications regarding NSEL transactions and ongoing legal proceedings under MPID Act and PMLA.
  • · Government of Maharashtra filed supplementary charge sheet under MPID Act against the company and Chairman; matter adjourned to June 23, 2026.
  • · Company appointed Ashok P Patel & Co as internal auditor for FY26-27.
  • · Cash and cash equivalents increased marginally to ₹61.50 Lakhs from ₹61.00 Lakhs.
  • · Earnings per share (basic) worsened from loss of ₹4.61 in FY25 to loss of ₹5.24 in FY26.
Swan Defence And Heavy Industries Ltd Corporate Action mixed materiality 8/10

27-05-2026

Swan Defence and Heavy Industries Ltd (formerly Reliance Naval and Engineering) reported audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The board approved raising up to ₹4,000 crore through various securities issuances, subject to shareholder/regulatory approvals. However, the company recorded a significant book loss of ₹26,200 lakh on the sale of five semi-finished offshore vehicles (OSVs) for ₹7,000 lakh against a book value of ₹33,200 lakh, and CFO Rajesh Bhardwaj resigned effective May 27, 2026, with Jignesh Shah appointed as the new CFO.

  • · Auditor's report with unmodified opinion on both standalone and consolidated financial results for FY ended March 31, 2026.
  • · Board approved re-appointment of M/s Mahajan & Aibara, Chartered Accountant LLP as Internal Auditors for FY 2026-27.
  • · 29th Annual General Meeting scheduled for September 2, 2026, via VC/OAVM; record date/book closure from August 27 to September 2, 2026.
  • · Risk Management Committee reconstituted effective May 28, 2026, with Kaiyoze Beji Billimoria as Chairman, Paresh Merchant as Member, and Jignesh Shah as Member.
  • · Updated list of Key Managerial Personnel (KMP) for materiality determination and stock exchange disclosures effective May 28, 2026: CEO RAdm Vipin Kumar Saxena, CFO Jignesh Shah, CS Priti P. Dave.
Union Bank of India Corporate Governance neutral materiality 5/10

27-05-2026

Union Bank of India has announced its 24th Annual General Meeting (AGM) to be held on July 10, 2026 via video conferencing, with a book closure period from July 4 to July 10, 2026. The record date for e-voting and dividend eligibility is July 3, 2026. The annual report for FY 2025-26 will be submitted separately.

  • · AGM date: Friday, 10th July 2026 at 11:00 a.m. IST via VC/OAVM
  • · Book closure: Saturday, 4th July 2026 to Friday, 10th July 2026 (both days inclusive)
  • · Remote e-voting period: Tuesday, 7th July 2026 (9:00 a.m. IST) to Thursday, 9th July 2026 (5:00 p.m. IST)
  • · Last date for receipt of resolutions appointing authorized representatives: Friday, 3rd July 2026 (5:00 p.m. IST)
  • · Record date/cut-off date for e-voting and dividend: Friday, 3rd July 2026
  • · Annual Report for FY 2025-26 to be submitted separately
Varroc Engineering Limited Analyst/Investor Meet neutral materiality 3/10

27-05-2026

Varroc Engineering Limited held a conference call on May 27, 2026, to discuss its audited financial results for the quarter and year ended March 31, 2026. The company provided an audio recording link for investors and analysts. No specific financial figures or performance metrics were disclosed in this filing.

  • · The conference call audio recording is available at https://www.varroc.com/upload/financial_results/177989449434936732.mp3
  • · The filing was made under reference number VARROC/SE/INT/2026-27/21
Mufin Green Finance Limited Corporate Governance neutral materiality 5/10

27-05-2026

Mufin Green Finance Limited has informed the stock exchanges that its Management Committee of the Board of Directors will meet on Tuesday, June 02, 2026, to consider a fund raising proposal by way of issuance of listed, secured/unsecured, non-convertible debentures on a private placement basis. The intimation was filed pursuant to Regulations 29 and 50 of the SEBI Listing Regulations.

  • · The meeting is scheduled for June 02, 2026.
  • · The fund raising is proposed via issuance of listed, secured/unsecured, non-convertible debentures on private placement basis.
  • · The intimation was given pursuant to Regulations 29 and 50 of SEBI (LODR) Regulations, 2015.
  • · The filing was signed by Mayank Pratap Singh, Company Secretary & Compliance Officer.
Union Bank of India Corporate Governance neutral materiality 3/10

27-05-2026

Union Bank of India has announced its 24th Annual General Meeting (AGM) to be held on July 10, 2026, via video conferencing. The book closure period for the AGM and dividend payment runs from July 4 to July 10, 2026, with a record date of July 3, 2026. The filing does not contain any financial results or performance data.

  • · AGM date: Friday, 10th July 2026 at 11:00 a.m. IST
  • · Record date/cut-off for e-voting and dividend: Friday, 3rd July 2026
  • · Book closure period: Saturday, 4th July 2026 to Friday, 10th July 2026 (both days inclusive)
  • · Remote e-voting period: Tuesday, 7th July 2026 (9:00 a.m. IST) to Thursday, 9th July 2026 (5:00 p.m. IST)
  • · Last date for receipt of resolutions appointing authorized representatives: Friday, 3rd July 2026 (5:00 p.m. IST)
  • · Annual Report for FY 2025-26 to be submitted to exchanges in due course
Balmer Lawrie & Company Limited Regulatory Action negative materiality 6/10

27-05-2026

Balmer Lawrie & Company Limited disclosed that BSE Limited imposed fines of ₹7,50,480 (inclusive of GST) for non-compliance with several SEBI Listing Regulations during the quarter ended March 31, 2026. The violations stemmed from the Board lacking an Independent Director, Woman Director, and Independent Woman Director from March 28-31, 2026, and having insufficient Non-Executive Directors, which also led to cascading non-compliances with committee composition requirements. The company attributes these lapses to factors beyond its control, as board composition depends on appointments by the Ministry of Petroleum & Natural Gas, and has sought a waiver of the fine from BSE.

  • · The non-compliance period for Independent Director, Woman Director, and Independent Woman Director was from March 28, 2026 to March 31, 2026.
  • · The Board did not comprise at least 50% Non-Executive Directors due to insufficient numbers of Independent Directors/Non-Executive Directors.
  • · All members of the Nomination and Remuneration Committee were not Non-Executive Directors from January 1, 2026 to March 17, 2026, as the Company had only 2 Non-Executive Directors on its Board during that period.
  • · Specific regulations violated include: 17(1), 18(1), 19(1)/19(2), 20(2)/(2A), and 21(2) of the Listing Regulations.
  • · The Company is a Central Public Sector Enterprise under the administrative control of the Ministry of Petroleum & Natural Gas.
  • · Article 7A of the Articles of Association states the President of India is entitled to appoint Directors, including Independent/Woman Directors, making board composition dependent on the Administrative Ministry.
  • · The Company has made representation(s) to BSE Limited seeking a waiver of the fine.
NILACHAL CARBO METALICKS LIMITED Corporate Governance neutral materiality 3/10

27-05-2026

Nilachal Carbo Metalicks Limited has informed BSE that a Board Meeting will be held on May 30, 2026, to consider and approve the audited financial results (standalone and consolidated) for the half year and financial year ended March 31, 2026. The trading window for insiders has been closed from April 1, 2026, and will open 48 hours after the results are declared. No financial figures or performance comparisons are provided in this filing.

  • · Board meeting scheduled for Saturday, May 30, 2026.
  • · Agenda includes approval of audited financial results for the half year and full year ended March 31, 2026.
  • · Trading window closed from April 1, 2026, and will reopen 48 hours after results declaration.
  • · Filing made under Regulation 29 of SEBI (LODR) Regulations, 2015.
Uni-Abex Alloy Products Ltd. Corporate Governance mixed materiality 9/10

27-05-2026

Uni-Abex Alloy Products Ltd. reported a massive surge in net profit for FY2025-26, driven by a one-time exceptional gain of ₹27,353.05 lakh from the sale of its Thane investment property. Revenue from operations grew 13.3% YoY to ₹21,878.41 lakh, while net profit (excluding exceptional items) rose 64.6% to ₹5,530.84 lakh. However, the company's quarterly performance was mixed: Q4 FY26 revenue of ₹7,829.03 lakh was up 29.8% YoY but down 72.0% sequentially from Q3 FY25's ₹4,552.85 lakh (note: Q4 figure is higher than Q3, so sequential decline is not present; actually Q4 revenue is higher than Q3, so sequential growth is 72.0% increase). The board recommended a total dividend of ₹100 per share (1000% of face value), comprising a regular dividend of ₹40 and a special dividend of ₹60 from the land sale proceeds.

  • · The company has only one operating segment: 'Alloy and Steel Castings'.
  • · Total comprehensive income for FY2025-26 was ₹27,988.93 lakh vs ₹3,338.12 lakh in FY2024-25.
  • · Earnings per share (basic and diluted) for FY2025-26: ₹1,417.02 (annualised) vs ₹169.90 in prior year.
  • · Total assets increased from ₹19,572.99 lakh (31 March 2025) to ₹49,286.34 lakh (31 March 2026).
  • · Trade receivables increased to ₹5,218.50 lakh from ₹3,824.63 lakh, indicating higher credit sales.
  • · Inventories rose to ₹5,347.73 lakh from ₹3,130.38 lakh, suggesting increased production or slower sales.
  • · Current investments surged to ₹23,632.15 lakh from ₹3,929.31 lakh, reflecting deployment of land sale proceeds.
  • · Borrowings (current) remained stable at ₹1,113.58 lakh vs ₹1,120.72 lakh.
  • · The company is not a Large Corporate as per SEBI circular.
  • · The board meeting started at 5:10 PM IST and concluded at 7:50 PM IST on 27 May 2026.
  • · The impact of the new Labour Codes on employee benefit expenses is assessed as nominal.
Time Technoplast Limited Corporate Governance mixed materiality 9/10

27-05-2026

Time Technoplast Limited reported consolidated revenue of ₹6,10,520 Lakhs for FY26, up 11.9% YoY from ₹5,45,704 Lakhs in FY25, with net profit rising 20.8% to ₹47,661 Lakhs. However, operating EBITDA margin slipped to 14.62% in Q4 FY26 from 15.05% in Q3 FY26, and cash flow from operations declined sharply to ₹23,324 Lakhs from ₹43,052 Lakhs in the prior year. The Board recommended a final dividend of ₹1.50 per share (150%) and approved the re-appointment of cost auditors.

  • · Segment-wise: Polymer Products revenue grew 9.3% YoY to ₹3,81,917 Lakhs; Composite Products revenue grew 16.4% YoY to ₹2,28,604 Lakhs.
  • · Segment profit before tax and interest: Polymer Products ₹41,432 Lakhs (FY26) vs ₹37,295 Lakhs (FY25); Composite Products ₹29,449 Lakhs vs ₹24,234 Lakhs.
  • · Finance costs decreased to ₹7,978 Lakhs in FY26 from ₹9,153 Lakhs in FY25, a decline of 12.8%.
  • · Trade receivables increased sharply to ₹1,45,246 Lakhs from ₹1,16,235 Lakhs, a 24.9% rise.
  • · Capital work-in-progress more than doubled to ₹22,977 Lakhs from ₹7,942 Lakhs.
  • · Net worth (excluding revaluation reserves) stood at ₹4,08,830 Lakhs as at 31 March 2026, up from ₹2,89,214 Lakhs a year ago.
  • · QIP proceeds of ₹356.41 Crore remained unutilised as at 31 March 2026, temporarily invested in fixed deposits and monitoring accounts.
  • · Cost auditor M/s. Darshan Vora & Co. re-appointed for FY26-27, subject to shareholder ratification.
Uni-Abex Alloy Products Ltd. Corporate Governance mixed materiality 8/10

27-05-2026

Uni-Abex Alloy Products Ltd. reported audited annual results for FY2025-26 with total income of ₹22,828.14 lakh (up 14.1% from ₹20,006.76 lakh in FY2024-25) and net profit of ₹27,986.21 lakh (up from ₹3,357.30 lakh), driven by an exceptional gain of ₹27,353.05 lakh from the sale of its Thane land. However, quarterly revenue for Q4 FY2026 was ₹7,829.03 lakh, down from ₹6,014.35 lakh in Q4 FY2025, and the board recommended a total dividend of ₹100 per share (₹40 regular + ₹60 special), subject to shareholder approval.

  • · The board elevated Mr. Nisar Hassan from COO & Manager to CEO with immediate effect.
  • · The company is not a Large Corporate as per SEBI circular.
  • · The board meeting commenced at 5:10 p.m. IST and concluded at 7:50 p.m. IST.
  • · The company has only one operating segment: 'Alloy and Steel Castings'.
  • · The company has assessed the impact of the new Labour Codes and determined it to be nominal.
  • · The record date and AGM date will be intimated separately.
Quadrant Future Tek Limited Corporate Governance negative materiality 9/10

27-05-2026

Quadrant Future Tek Limited reported audited financial results for Q4 FY26 and FY26, showing a significant deterioration in financial health. While revenue from operations for the full year grew marginally to ₹1,529.67 million from ₹1,506.12 million in FY25, the company reported a net loss of ₹-429.57 million for FY26 compared to a loss of ₹-197.18 million in the prior year, with the loss widening by 117.8%. The auditor's report includes an emphasis of matter noting the company incurred a cash loss in FY26, an aggravation from the prior year when losses were entirely non-cash, and the Train Collision Avoidance System (TCS) division posted a segment loss of ₹-602.27 million for the year, far exceeding the Cable division's profit of ₹49 million.

  • · The Board meeting commenced at 4:00 PM IST and concluded at 7:30 PM IST on May 27, 2026.
  • · M/s. Anand Narang & Associates were re-appointed as Internal Auditors for FY 2026-27.
  • · The auditor's report includes an unmodified opinion but with an emphasis of matter regarding cash loss in FY26.
  • · Basic EPS for FY26 was ₹-10.71 per share (par value ₹10), compared to ₹-1.2 per share in FY25.
  • · Diluted EPS for FY26 was ₹-10.61 per share, compared to ₹-0.5 per share in FY25.
  • · Cable Division revenue for FY26 was ₹1,529.64 million (flat vs ₹1,461.60 million in FY25).
  • · TCS Division revenue for FY26 was nil (₹0.03 million in Q4 FY26) vs ₹4.52 million in FY25.
  • · Finance cost for FY26 was ₹30.29 million, down from ₹76.75 million in FY25 (60.5% decrease).
  • · Depreciation and amortisation for FY26 was ₹187.26 million, down from ₹211.54 million in FY25 (11.5% decrease).
  • · Deferred tax benefit of ₹127.92 million was recognized in FY26 vs deferred tax expense of ₹65.31 million in FY25.
Ramky Infrastructure Limited Corporate Governance mixed materiality 8/10

27-05-2026

Ramky Infrastructure Limited's Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The Board also approved a final dividend of 10% (₹1 per share), the resignation of Company Secretary Kesava Datta N (effective June 30, 2026), and the incorporation of a UAE subsidiary to enter the water, wastewater, and infrastructure sectors. However, the audit report highlights material uncertainties: a subsidiary (Srinagar Banihal Expressway) has ₹2,509.46 million in disputed NHAI deductions (with ₹1,872.75 million recommended for release but pending arbitration), and another subsidiary (Hospet Chitradurga Tollways) had its project terminated by mutual consent, raising going concern issues. Additionally, the Group wrote off ₹723.48 million in receivables while writing back ₹68.40 million in liabilities during the period.

  • · The Board meeting commenced at 04:40 PM and concluded at 09:30 PM on May 27, 2026.
  • · The statutory auditors issued an unmodified opinion on both standalone and consolidated annual audited financial results for the quarter and year ended March 31, 2026.
  • · The consolidated results include 9 joint operations, multiple subsidiaries (including step-down subsidiaries), and associates (including GP-IR Project Private Limited w.e.f. 16.10.2025 and DBL EPC Bandh Baretha Private Limited w.e.f. 04.11.2025).
  • · Visaleha Pharmacity Limited ceased to be a subsidiary w.e.f. March 30, 2026.
  • · RAMDIL EPC Works Limited and Maha Integrated Life Sciences City Limited became subsidiaries w.e.f. October 27, 2025.
  • · The subsidiary Srinagar Banihal Expressway Limited has initiated arbitration proceedings for recovery of NHAI deductions; the outcome is unascertainable and no adjustments have been made.
  • · The subsidiary Hospet Chitradurga Tollways Limited had its project terminated by mutual consent with NHAI in FY 2014-15, affecting its going concern status; financial impact was provided in earlier years.
Nimbus Projects Limited Corporate Governance mixed materiality 7/10

27-05-2026

Nimbus Projects Limited reported a net profit of ₹2,548.42 Lakh for the year ended March 31, 2026, compared to a net loss of ₹1,722.34 Lakh in the previous year, driven largely by a share of profit of ₹3,741.74 Lakh from partnership firms. However, revenue from operations declined slightly to ₹146.73 Lakh from ₹151.12 Lakh, and total expenses increased sharply to ₹5,324.57 Lakh from ₹5,068.55 Lakh, leading to a pre-tax loss of ₹1,110.18 Lakh (improved from a pre-tax loss of ₹1,019.22 Lakh last year). The company also disclosed strong presales booking growth of 55.76% and customer collection growth of 123.88% in Q4 FY25-26.

  • · Share of Profit from Partnership Firms jumped from ₹0.00 Lakh in FY25 to ₹3,741.74 Lakh in FY26, but the auditor notes one partnership firm contributed a loss of ₹833.34 Lakh (based on other auditor's report)
  • · Total Comprehensive Income stood at ₹(1,212.80) Lakh for the year (loss), compared to ₹(1,275.18) Lakh in the prior year
  • · Earnings Per Share (Basic) improved from ₹(15.89) loss per share in Q4FY25 to ₹13.19 profit per share in Q4FY26
  • · For the full year, Basic EPS was ₹(6.28) loss per share in FY26 vs ₹(11.76) loss per share in FY25
  • · Finance Costs increased to ₹145.4 Lakh for FY26 from ₹541.41 Lakh in FY25 (a decline of 73.1%)
  • · Depreciation & Amortisation increased to ₹18.25 Lakh from ₹9.19 Lakh in the prior quarter
  • · Share of Losses in Partnership Firms for the year was ₹4,180.16 Lakh vs ₹1,547.30 Lakh in FY25 (increase of 170%)
  • · The Board meeting commenced at 3:00 PM and concluded at 9:30 PM on May 27, 2026
  • · The auditor's report contains unmodified opinion (unqualified) for both standalone and consolidated results
Cello World Limited Corporate Governance neutral materiality 8/10

27-05-2026

Cello World Limited's Board approved the Composite Scheme of Arrangement among Wim Plast Limited, Cello Consumer Products Private Limited, and Cello World Limited, effective May 27, 2026, with an appointed date of April 1, 2025. The Board also approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and recommended a final dividend of 30% (₹1.50 per share) for FY 2025-26. The company reported no deviation in the use of funds raised via QIP in July 2024, with total funds of ₹738 Crore fully utilized as per the stated objects.

  • · The Board approved May 27, 2026 as the Effective Date of the Scheme, operative from the Appointed Date of April 1, 2025.
  • · Record Date for determining shareholders of WPL for equity share allotment is June 09, 2026.
  • · The 8th Annual General Meeting will be held on August 07, 2026 via Video Conferencing / Other Audio Visual Means.
  • · Register of Members and Share Transfer Books will remain closed from August 01, 2026 to August 07, 2026.
  • · Dividend payment date is on or after August 12, 2026, subject to shareholder approval.
  • · The company has no outstanding qualified borrowings or incremental qualified borrowings for FY ended March 31, 2026.
  • · The Board meeting commenced at 3:00 p.m. and concluded at 8:30 p.m.
  • · The audit report for standalone financial results for the year ended March 31, 2026 received an unmodified opinion.
Deep Diamond India Limited Corporate Governance negative materiality 8/10

27-05-2026

Deep Health AI India Limited (formerly Deep Diamond India Limited) has deferred the approval of its audited standalone and consolidated financial results for FY ended March 31, 2026, due to paucity of time and the need for further clarifications from management. The board meeting, which started at 2:00 PM and concluded at 9:50 PM on May 27, 2026, could not finalize the results, which are now rescheduled for consideration on May 29, 2026. This deferral may raise concerns about timely financial reporting and internal processes.

  • · The board meeting lasted nearly 8 hours (2:00 PM to 9:50 PM) but still could not finalize the financial results.
  • · The deferral is attributed to 'paucity of time' and the need for 'certain further clarifications from the Management'.
  • · The rescheduled board meeting for approval is set for May 29, 2026.
  • · The company's name changed from Deep Diamond India Limited to Deep Health AI India Limited, and the filing incorrectly references 'Shamrock Industrial Company Limited' in the body text.
Ravindra Energy Limited Corporate Governance neutral materiality 7/10

27-05-2026

Ravindra Energy Limited's Board of Directors, at a meeting on May 27, 2026, approved the final terms of a Rights Issue to raise up to ₹2,050 million. The issue will offer 1,98,32,834 equity shares at ₹101 each (face value ₹10) to existing shareholders, with a record date of June 8, 2026, and an issue period from June 16 to June 24, 2026. The company's outstanding equity will increase from 17,86,94,463 shares to 19,85,27,297 shares upon full subscription.

  • · Record date for the Rights Issue is June 8, 2026.
  • · Issue open date: June 16, 2026; Issue closure date: June 24, 2026.
  • · The Board meeting commenced at 09:30 PM and concluded at 09:45 PM on May 27, 2026.
  • · In-principle approval for the Rights Issue was received from BSE and NSE on May 27, 2026.
GMR AIRPORTS LIMITED Corporate Governance positive materiality 8/10

27-05-2026

GMR Airports Limited reported standalone revenue from operations of Rs. 494.00 crore for the year ended March 31, 2026, compared to Rs. 270.911 crore in the prior year, a significant increase. However, the company reported a net profit after tax of Rs. 142.05 crore for the year, versus a net loss of Rs. 190.74 crore in the previous year, indicating a turnaround. The auditor's report includes an emphasis of matter regarding uncertainties related to tariff matters at Delhi and Hyderabad airports.

  • · The Board approved appointment of M/s. Narasimha Murthy & Co., Cost Accountants as Cost Auditor for FY 2026-27.
  • · Auditor's report includes an emphasis of matter regarding uncertainties related to monthly annual fees claims and other tariff matters at DIAL and GHIAL.
  • · The company's other equity decreased from Rs. 52,994.59 crore as at March 31, 2025 to Rs. 511.50 crore as at March 31, 2026, primarily due to fair value changes in equity investments through OCI.
  • · Total comprehensive income for the year ended March 31, 2026 was Rs. 6,370.58 crore, compared to a total comprehensive loss of Rs. 340.56 crore in the prior year.
  • · The company's Non-Convertible Bonds are unsecured, so security cover certificate is not applicable.
Ravindra Energy Limited Corporate Governance neutral materiality 6/10

27-05-2026

Ravindra Energy Limited's Board of Directors, at a meeting held on May 27, 2026, approved the final terms of a Rights Issue of equity shares. The issue will offer 1,98,32,834 equity shares of face value ₹10 each at an issue price of ₹101 per share, aggregating up to ₹2,050 million. The record date is set for June 8, 2026, with the issue opening on June 16, 2026 and closing on June 24, 2026.

  • · The Rights Issue is subject to in-principle approval from BSE and NSE, received on May 27, 2026.
  • · The Board meeting commenced at 09:30 PM and concluded at 09:45 PM on May 27, 2026.
  • · The record date for determining eligible shareholders is June 8, 2026.
  • · The issue open date is June 16, 2026, and the issue closure date is June 24, 2026.
  • · The company's registered office is in Belgaum, Karnataka, India.
Oil India Limited Regulatory Action negative materiality 5/10

27-05-2026

Oil India Limited received fines of Rs. 5,49,880 each from NSE and BSE for non-compliance with SEBI (LODR) Regulations regarding appointment of independent directors and committee composition for the quarter ended March 2026. The company states the non-compliance is beyond its control as it is a government company where directors are appointed by the Government of India, and no material financial impact is expected.

  • · Violations include Regulation 17(1), 18(1), and 19(1)/19(2) of SEBI (LODR) Regulations, 2015 relating to non-appointment of requisite number of Independent Directors (including one Woman Independent Director), composition of Audit Committee and Nomination & Remuneration Committee.
  • · The company has been regularly requesting MoP&NG for appointment of independent directors.
  • · No material impact on financials, operations, or other activities of the company.
Bajel Projects Limited Corporate Governance neutral materiality 6/10

27-05-2026

Bajel Projects Limited's Board approved audited standalone and consolidated financial results for Q4 and FY ended March 31, 2026, with an unmodified audit opinion. The Board recommended a final dividend of ₹0.60 per share (30% of face value ₹2) and proposed increasing borrowing limits from ₹3,500 crore to ₹5,000 crore, subject to shareholder approval. Additionally, Mr. Ajay Nagle resigned as Company Secretary & Compliance Officer (effective May 27, 2026) and Ms. Amee Joshi was appointed as his successor, while Mrs. Pooja Bajaj was appointed as an Additional Non-Executive Non-Independent Director.

  • · Audit reports for the year ended March 31, 2026, are unmodified (free from any qualifications).
  • · The 4th Annual General Meeting will be held on August 7, 2026, via Video Conferencing.
  • · Record date for final dividend is July 31, 2026; payment on or after August 11, 2026, subject to shareholder approval.
  • · Mr. Ajay Nagle will continue as Executive Director until August 31, 2026.
  • · Mrs. Pooja Bajaj is liable to retire by rotation and is not debarred from holding director office.
  • · The Board meeting commenced at 01:38 P.M. and concluded at 04:05 P.M.
MILGREY FINANCE & INVESTMENT LTD Corporate Governance neutral materiality 3/10

27-05-2026

Milgrey Finance & Investments Ltd's Board of Directors approved the audited financial results for the quarter and financial year ended March 31, 2026. The statutory auditors issued an unmodified (clean) opinion, with no audit qualifications. The meeting was held on May 27, 2026, from 8:00 PM to 9:30 PM.

  • · Filing provides no financial figures, only confirmation of board approval and unmodified audit opinion.
  • · Scrip code listed as ZMILGFIN (possibly BSE) and 511018.
  • · Statutory auditor is M/s. K. S. Subrahmanyam & Co.
  • · Audited results are available on the company's website.
Time Technoplast Limited Corporate Action mixed materiality 9/10

27-05-2026

Time Technoplast Limited reported consolidated revenue of ₹6,10,520 Lakhs for FY26, up 11.9% from ₹5,45,704 Lakhs in FY25, with net profit rising 20.8% to ₹47,661 Lakhs. However, Q4 FY26 revenue of ₹1,67,667 Lakhs grew 14.2% YoY but declined 7.2% sequentially from Q3 FY26's ₹1,56,477 Lakhs, while net profit for Q4 was ₹13,431 Lakhs, up 20.1% YoY but down 4.5% QoQ. The Board recommended a final dividend of ₹1.50 per share (150%) and approved the re-appointment of cost auditors.

  • · The Board approved re-appointment of M/s. Darshan Vora & Co., Cost Accountants as Cost Auditor for FY 2026-27.
  • · Net cash from operating activities declined sharply to ₹23,324 Lakhs in FY26 from ₹43,052 Lakhs in FY25, a drop of 45.8%.
  • · Capital work-in-progress increased to ₹22,977 Lakhs as at 31.03.2026 from ₹7,942 Lakhs a year ago, indicating significant ongoing expansion.
  • · Trade receivables rose to ₹1,45,246 Lakhs from ₹1,16,235 Lakhs, an increase of 24.9%.
  • · The company utilised ₹356.41 Crore of QIP proceeds as at 31st March 2026, with the balance temporarily invested in fixed deposits and monitoring accounts.
  • · Debt equity ratio improved to 0.16 from 0.22 a year ago.
  • · Current ratio improved to 3.51 from 2.63 a year ago.
  • · Operating EBITDA margin for Q4 FY26 was 14.62%, slightly down from 15.05% in Q3 FY26.
  • · Net profit margin for Q4 FY26 was 7.99%, down from 8.20% in Q3 FY26.
  • · The auditors' report contains an unmodified opinion for the year ended 31st March 2026.
Cello World Limited Merger/Acquisition neutral materiality 8/10

27-05-2026

Cello World Limited's board approved the Composite Scheme of Arrangement involving Wim Plast Limited and Cello Consumer Products Private Limited, effective from April 1, 2025, with May 27, 2026 as the effective date. The board also approved audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, and recommended a final dividend of 30% (₹1.50 per share) for FY2025-26. The company reported no deviation in the use of QIP funds raised in July 2024, with all objects fully utilized except for a minor adjustment of ₹0.20 Crore between working capital and issue expenses.

  • · The scheme was sanctioned by the NCLT Ahmedabad Bench on May 14, 2026.
  • · Record date for determining WPL shareholders for share allotment is June 09, 2026.
  • · The 8th AGM will be held on August 07, 2026 via VC/OAVM.
  • · Register of Members and Share Transfer Books will be closed from August 01 to August 07, 2026.
  • · Dividend payment date is on or after August 12, 2026.
  • · The company has no outstanding qualified borrowings or incremental qualified borrowings for FY2025-26.
  • · The QIP issue expenses were increased by ₹0.20 Crore from the original estimate, adjusted against working capital allocation.
  • · The board meeting lasted from 3:00 PM to 8:30 PM.
Singer India Limited Corporate Governance positive materiality 8/10

27-05-2026

Singer India Limited reported audited financial results for Q4 and FY ended March 31, 2026, with revenue from operations for the quarter at ₹16,632 Lakh (up 36.7% YoY from ₹12,167 Lakh) and for the full year at ₹55,733 Lakh (up 29.1% YoY from ₹43,167 Lakh). Net profit for the quarter was ₹590 Lakh (up 45.7% YoY from ₹405 Lakh) and for the full year ₹1,276 Lakh (up 72.7% YoY from ₹739 Lakh). The Board recommended a final dividend of ₹0.40 per share (20% on face value of ₹2). However, other comprehensive income was a loss of ₹5 Lakh for the quarter and ₹19 Lakh for the year, and the company recorded an exceptional charge of ₹18 Lakh in Q4 FY26 related to the one-time impact of new labour codes.

  • · Auditor's report issued with unmodified opinion for FY26.
  • · Board meeting commenced at 04:15 PM and concluded at 08:30 PM on May 27, 2026.
  • · Total equity increased from ₹15,894 Lakh (FY25) to ₹17,825 Lakh (FY26).
  • · Total assets increased from ₹24,074 Lakh (FY25) to ₹28,948 Lakh (FY26).
  • · Cash and cash equivalents rose from ₹2,694 Lakh (FY25) to ₹5,867 Lakh (FY26).
  • · Trade receivables decreased from ₹4,465 Lakh (FY25) to ₹3,859 Lakh (FY26).
  • · Other comprehensive loss for FY26 was ₹19 Lakh (vs ₹6 Lakh loss in FY25).
  • · Exceptional item of ₹73 Lakh for FY26 (one-time impact of new labour codes) reduced profit before tax.
  • · Deferred tax liability of ₹46 Lakh as at 31 March 2026 (nil in FY25).

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