Ace Men Engg Works Limited reported a consolidated net profit of ₹16.40 lakh for the financial year ended March 31, 2026. The company's Board of Directors approved the audited standalone and consolidated financial results for the year at a meeting held on June 01, 2026. M/s. S P A K & Associates, Statutory Auditors, issued a qualified opinion on the consolidated results due to non-compliances reported at its subsidiary, Manibhadra Industries Private Limited, while the standalone results received an unqualified opinion.

The consolidated financial statements include the results of the subsidiary from November 26, 2025, following its acquisition. The subsidiary reported non-compliance with provisions of the Companies Act, 2013, relating to the acceptance of unsecured loans and the granting of loans and advances. Specifically, the subsidiary accepted unsecured loans amounting to ₹1.87 crore with an outstanding balance of ₹1.47 crore, contravening Section 73 of the Act. Additionally, total borrowings of ₹12.63 crore exceeded limits under Section 180(1)(c) without requisite shareholder approval. The subsidiary also granted loans and advances of ₹5.73 crore, including to directors and relatives, without sufficient evidence of recoverability or compliance with Section 185. The auditors stated they could not determine the consequential impact on the financial statements.

Financial Performance

The company recorded a total consolidated revenue of ₹1,097.68 lakh for FY26, compared to nil in the previous year. Total expenses stood at ₹1,058.55 lakh. Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) were reported at ₹39.13 lakh. For the quarter ended March 31, 2026, the company posted a net profit of ₹11.55 lakh on a total revenue of ₹854.64 lakh.

On a standalone basis, the company reported a total revenue of ₹7.73 lakh and a net profit of ₹0.13 lakh for the financial year ended March 31, 2026. For the quarter ended March 31, 2026, the standalone net loss was ₹1.35 lakh. The Board also took note of the resignation of Mr. Sourabh Gopichand Gaikwad as an Independent Director effective June 01, 2026, due to preoccupation.

Ace Men Engg Works Limited has announced that its board meeting will be held on Friday, May 29, 2026. The meeting has been convened in accordance with the provisions of Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The primary agenda for the meeting is to consider the audited financial results of the company for the financial year ended March 31, 2026. The board will review both the standalone and consolidated financial statements during this session.

Agenda Items

The board will deliberate on the following key points:

• Audited Financial Results (Standalone and Consolidated) for the financial year ended March 31, 2026.
• Any other business with the permission of the chair.

The intimation was signed by Ruchir Patel, Managing Director, on May 23, 2026. The company's registered office is located at Office No. 16, Gulab Tower, Thaltej, Ahmedabad -380054.