Amic Forging reported a 20.5% decline in consolidated net profit to ₹2,827.16 lakh for the financial year ended March 31, 2026, despite a 16.8% rise in revenue from operations to ₹14,178.48 lakh. The company's statutory auditor, K. N. Gutgutia & Co., issued an unmodified opinion on the audited standalone and consolidated financial results, which were approved by the Board of Directors on May 30, 2026.

Revenue from operations for the year increased from ₹12,131.58 lakh in the previous year, while total income rose to ₹14,281.76 lakh. However, total expenses increased to ₹10,309.94 lakh from ₹9,659.93 lakh in the prior year, impacting the bottom line. Profit before tax for the year stood at ₹3,971.82 lakh, compared to ₹4,542.56 lakh in FY25.

Consolidated Financial Results

The company's financial performance for the half year ended March 31, 2026, and the full year ended March 31, 2026, is detailed below:

Standalone Performance

On a standalone basis, the company reported a profit of ₹2,827.71 lakh for FY26, down from ₹3,555.69 lakh in the previous year. Revenue from operations stood at ₹14,178.48 lakh, up from ₹12,131.58 lakh in FY25. The earnings per share (EPS) on a basic basis decreased to ₹26.78 from ₹33.90 in the prior year.

Balance Sheet and Cash Flows

The consolidated balance sheet as of March 31, 2026, showed total assets of ₹25,555.31 lakh, up from ₹15,268.37 lakh in the previous year. Shareholders' funds increased to ₹21,268.93 lakh, driven by a rise in reserves and surplus to ₹15,770.04 lakh and money received against share warrants at ₹4,394.15 lakh.

Cash and cash equivalents decreased to ₹677.36 lakh from ₹1,953.01 lakh at the end of the previous year. The net cash generated from operations was ₹886.18 lakh, while the company utilized ₹8,679.51 lakh in investing activities, primarily due to the purchase of property, plant, and equipment. Financing activities provided a net inflow of ₹6,517.68 lakh, largely from proceeds from the issue of equity shares and convertible warrants.

Amic Forging Limited secured shareholder approval to raise Rs. 220,98,77,500 through a preferential issue of equity shares and convertible warrants to non-promoters, alongside increasing its authorised share capital. The resolutions were passed during an Extraordinary General Meeting (EGM) held on June 5, 2026, via video conference. The company also appointed two new directors to its board as part of the governance updates.

The EGM approved the alteration of the capital structure, increasing the authorised share capital from Rs. 12,00,00,000 to Rs. 15,00,00,000. This increase involves the creation of 30,00,000 additional equity shares of Rs. 10 each. The meeting, chaired by Managing Director Mr. Girdhari Lal Chamaria, was conducted in compliance with the Companies Act, 2013 and SEBI Listing Regulations.

Preferential Allotment Details

The special resolution authorised the issuance of 26,200 equity shares and 14,22,900 warrants to identified non-promoter allottees. The price for both instruments was fixed at Rs. 1,525 per share or warrant, including a premium of Rs. 1,515. The relevant date for price determination was May 6, 2026. Kvasa Capital was identified as the sole allottee for the equity shares, while 11 entities, including Motilal Oswal Financial Services Limited and Calliope Capital Advisors LLP, were identified as warrant allottees.

Warrants are convertible into equity shares within 18 months from the date of allotment. A payment structure requires 25% of the warrant issue price at subscription and the balance upon exercise. The proceeds from the issue are intended to bolster the company's capital base.

Board Appointments

Shareholders approved the appointment of Mr. S Subrahmanyam (DIN: 06447057) as a Non-Executive Independent Director for a term of five years commencing from October 3, 2025. Additionally, Mr. Vijay Chopra (DIN: 06876180) was appointed as a Non-Executive Non-Independent Director effective from April 20, 2026, for a term ending April 19, 2031.

Voting Outcome

The scrutinizer's report confirmed that all four resolutions were passed with 100% of the votes cast in favour. A total of 13 members participated, casting 6,272,450 votes. Remote e-voting was conducted by Bigshare Services Pvt Ltd from June 2 to June 4, 2026, and Mr. B. K. Barik, Practising Company Secretary, oversaw the process.