Apollo Techno Industries reported a 52.82% decline in standalone net profit to ₹532.18 lakh for the financial year ended March 31, 2026 (FY26), compared to ₹1,128.20 lakh in FY25. Despite the drop in profitability, income from operations rose 4.52% to ₹10,362.58 lakh, reflecting steady top-line growth amid rising operational costs.

The Mehsana-based manufacturer of horizontal and vertical drill rigs completed its initial public offering (IPO) during the year, listing on the BSE SME platform on December 31, 2025. The fresh issue of 36.89 lakh equity shares at a premium of ₹120 per share raised significant capital, substantially strengthening the company's balance sheet.

Financial Performance

Standalone total expenses increased to ₹9,933.60 lakh from ₹8,490.09 lakh in the previous year, outpacing revenue growth and compressing margins. Profit before tax fell sharply by 63.95% to ₹538.63 lakh. Tax expenses dropped significantly to ₹6.45 lakh from ₹366.31 lakh in FY25.

On a consolidated basis, including its wholly-owned subsidiary Apollo Techno Equipments Limited, the group reported a net profit of ₹1,104.42 lakh, down from ₹1,373.45 lakh in FY25. Consolidated revenue from operations grew to ₹11,038.10 lakh from ₹9,914.09 lakh.

Capital Raise and Balance Sheet

The IPO proceeds resulted in a substantial increase in paid-up capital, which rose to ₹13.69 crore from ₹10 crore. Security premium reserves surged to ₹3,829.36 lakh due to the share issue. The company did not declare any dividend for FY26, opting to preserve resources for business growth.

Total borrowings decreased to ₹2,424.30 lakh from ₹3,049.42 lakh in FY25, indicating a deleveraging trend supported by the equity raise. Current assets stood at ₹9,175.59 lakh, driven by higher inventory levels of ₹5,159.28 lakh and trade receivables of ₹2,705.08 lakh.

What the Numbers Show

While standalone profitability contracted sharply, the consolidated figures reveal a more resilient operational picture, with the subsidiary contributing significantly to the bottom line. The drastic reduction in standalone tax expenses—from ₹366.31 lakh to just ₹6.45 lakh—suggests a change in taxable income structure or utilization of earlier losses, rather than purely operational inefficiency driving the profit decline. Additionally, the shift in geographic sales mix is notable: domestic sales grew to ₹10,122.90 lakh (97.7% of total), while export sales contracted to ₹239.68 lakh, down from ₹2,426.48 lakh in FY25.

Apollo Techno Industries Limited held a Board of Directors meeting on August 31, 2026, to approve the notice for its 10th Annual General Meeting (AGM) and accept the resignation of its Chief Financial Officer.

The meeting commenced at 6:00 pm and concluded at 6:45 pm. The Board transacted several key items, including the approval of the Director's Report along with all annexures for FY26, which will be placed before members for adoption at the ensuing AGM.

CFO Resignation Accepted

The Board accepted the resignation of Mr. Maulikkumar Rameshbhai Bhatt from the position of Chief Financial Officer (CFO) and Key Managerial Personnel. The resignation is effective from August 31, 2025.

Mr. Bhatt had cited personal reasons for his departure. The Managing Director, Parth Rashmikant Patel, confirmed the acceptance. The company stated it would submit the necessary forms to the Registrar of Companies to record the change in key managerial personnel. No replacement was announced in the filing.

AGM Details Approved

The Board fixed the cut-off date for shareholders to cast their votes electronically at the 10th AGM as September 18, 2026. Additionally, Mr. Dixit Dipakkumar Shah, Proprietor of M/S. Dixit Shah & Associates, was appointed as the scrutinizer for the meeting.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.