Addi Industries Limited reported a consolidated net profit of ₹89.12 lakh for the quarter ended June 30, 2026 (Q1FY26), a 6.1% increase from ₹83.96 lakh in the corresponding period of FY25. The Board of Directors approved these unaudited financial results on August 01, 2026, alongside a significant governance change: the resignation of its statutory auditors, M/s B R Gupta & Co., effective immediately, due to an unresolved dispute over audit fees for FY27. M/s Shilpi Sharma and Co LLP has been appointed to fill the casual vacancy until the ensuing Annual General Meeting (AGM).

The filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignation letter from B R Gupta & Co., submitted under SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, confirmed no concerns regarding management conduct or information availability. The firm cited only the company's unwillingness to increase remuneration to levels commensurate with Institute of Chartered Accountants of India (ICAI) recommendations as the reason for stepping down.

Financial Performance

Standalone revenue from operations remained nil for the quarter, consistent with the prior year. However, other income contributed significantly to the bottom line. Standalone other income stood at ₹134.49 lakh, down slightly from ₹137.27 lakh in Q1FY25. Total standalone expenses decreased to ₹28.47 lakh from ₹31.27 lakh in the corresponding period, primarily due to lower finance costs (₹12.44 lakh vs ₹0.27 lakh) and other expenses (₹5.64 lakh vs ₹10.89 lakh). This resulted in a standalone net profit of ₹86.45 lakh, up from ₹80.33 lakh in Q1FY25.

On a consolidated basis, which includes subsidiary Aum Texfab Private Limited, revenue from operations was ₹209.08 lakh. Total consolidated income reached ₹345.55 lakh. Consolidated expenses totaled ₹235.97 lakh, leading to a profit before tax of ₹109.58 lakh. After tax expenses of ₹20.46 lakh, the consolidated net profit for the period was ₹89.12 lakh.

Auditor Transition and Going Concern

M/s Shilpi Sharma and Co LLP has been appointed to fill the casual vacancy caused by the resignation of B R Gupta & Co., effective August 01, 2026, until the conclusion of the ensuing AGM. The Board has further recommended their appointment for a term of five consecutive years, subject to shareholder approval at the AGM. Shilpi Sharma and Co holds Firm Registration No. 021442N and has experience in corporate audits and bank branch audits.

The auditor’s review report highlighted a material uncertainty regarding the company’s ability to continue as a going concern. Note 4 in the financial results states that while the Board is exploring modalities for a new business venture, it has not yet been implemented. However, management maintains that the going concern basis is appropriate due to significant cash and bank balances, positive net worth, and no borrowings.

What the Numbers Show

The company’s profitability remains heavily dependent on non-operating income. With standalone revenue from operations at nil, the entire standalone profit of ₹86.45 lakh is derived from other income minus minimal operating expenses. While consolidated revenue exists via Aum Texfab Private Limited, the subsidiary’s contribution to the group’s bottom line is marginal compared to the holding company’s other income streams. Investors should monitor the implementation status of the new business venture cited by management, as its absence continues to cast doubt on long-term operational sustainability despite current liquidity.

Addi announced the close of its Series D, which totals $85 million in equity financing, in a round led by Citius and co-led by BTG Pactual. The funding marks BTG Pactual's first Growth investment outside Brazil and underscores growing investor confidence in Colombia's financial services market. Participants included GIC, Monashees, and others, deepening commitments from previous rounds.

The company will use the proceeds to continue growing its credit platform, strengthen technology infrastructure, and expand the portfolio of financial products for consumers and merchants across Colombia. Santiago Suárez, CEO and Co-founder of Addi, stated that the company has been profitable for two years and raised the round to accelerate its growth trajectory and bring world-class partners to the table.

Strategic Partnerships and Growth

Citius, a global investment firm and long-term shareholder, led the round. Oleg Gordienko, Co-founder & Partner of Citius, highlighted Addi's role in transforming Colombia's financial and e-commerce landscape. BTG Pactual's Private Capital division co-led the investment through its Growth Strategy. As part of the agreement, Addi and BTG Pactual will collaborate on joint strategic initiatives in the Colombian market.

Gabriela Lima, Private Capital Director at BTG Pactual, compared Colombia's current credit access transformation to Brazil's past experience. She noted that Addi is redefining the credit experience for consumers and merchants through AI deployed at scale.

Recent Milestones

This Series D follows a series of milestones for the company. In April 2026, Addi closed a $150 million structured credit facility led by J.P. Morgan, the first warehouse financing structure the bank has arranged for a company in Colombia. This brought Addi's total debt commitments to more than $680 million. Additionally, the company received authorization from the Superintendencia Financiera de Colombia to operate as a regulated entity, allowing for deposit-taking activities.

Company Overview

Addi serves as a commerce and financial services platform in Colombia with more than 3 million customers and over 39,000 merchants. Founded in 2018, the company is backed by global investors including Andreessen Horowitz, BTG Pactual, GIC, Citius, and Union Square Ventures.