Avance Technologies reported a consolidated net profit of ₹246.59 lakh for the quarter ended June 30, 2026, an increase from ₹162.06 lakh in the same period of the previous year. The company’s consolidated revenue from operations rose significantly to ₹6,064.73 lakh, up from ₹3,741.90 lakh in Q1FY26. Standalone net profit was recorded at ₹27.96 lakh, down from ₹54.13 lakh year-on-year, as standalone revenue declined to ₹1,788.70 lakh from ₹2,520.81 lakh.

The Board of Directors, chaired by Managing Director Santosh Hambare, approved the unaudited financial results on August 11, 2026. The results were reviewed by the Audit Committee and subsequently approved by the Board. Statutory Auditors A. Raghavendra Rao & Associates (FRN: 003324S) issued a limited review report on the standalone and consolidated financial statements, confirming compliance with Ind AS 34 and SEBI Listing Regulations.

Financial Performance Overview

Consolidated other income remained stable at ₹94.17 lakh, matching the standalone figure. Total consolidated income reached ₹6,158.90 lakh, against total expenses of ₹5,912.31 lakh. In contrast, standalone total income was ₹1,882.87 lakh with total expenses of ₹1,854.92 lakh.

Expense Breakdown and Operational Insights

Purchases of stock-in-trade were the primary expense driver for the consolidated group, totaling ₹5,297.01 lakh, a substantial increase from ₹2,605.63 lakh in Q1FY26. Changes in inventories added ₹543.00 lakh to consolidated expenses, whereas it was ₹1,027.99 lakh in the prior year. Standalone purchases of stock-in-trade decreased to ₹1,788.57 lakh from ₹2,533.45 lakh.

Employee benefits expenses remained minimal at ₹2.74 lakh for both standalone and consolidated entities. Finance costs were negligible at ₹0.21 lakh on a consolidated basis and zero for the standalone entity. No exceptional items or discontinued operations were reported for either the standalone or consolidated results.

What the Numbers Show

The divergence between standalone and consolidated performance highlights the group's operational scale. While the standalone entity saw a decline in revenue and profit, the consolidated figures reflect significant growth, primarily driven by higher inventory purchases and revenue generation across subsidiaries including Avance Ventures Private Limited, Verticore Technologies Private Limited, and Avance Platforms Private Limited. The consistent other income of ₹94.17 lakh across both structures suggests centralized non-operating revenue streams.

Avance Technologies Limited has initiated a postal ballot process to secure shareholder approval for the appointment of its statutory auditor, Managing Director, and a Non-Executive Independent Director. The Board of Directors approved the postal ballot notice during its meeting held on July 10, 2026, at the company's registered office in Mumbai. Shareholders will vote on the appointment of M/s. A. Raghavendra Rao & Associates, Chartered Accountants, as statutory auditors to fill a casual vacancy caused by the resignation of the previous auditor. Additionally, the resolution seeks approval for the appointment of Mr. Santosh Hambare (DIN: 11523270) as Managing Director for a period of five years and the regularization of Mr. Dipak Gaikwad (DIN: 11797117) as Non-Executive Independent Director for a term of five years.

The Board appointed M/s. Sidhi Maheshwari & Associates, Practicing Company Secretaries, as the scrutinizer to ensure the postal ballot process is conducted fairly. The remote e-voting period is scheduled to begin on July 16, 2026, at 9:00 A.M. IST and will conclude on August 14, 2026, at 5:00 P.M. IST. The cut-off date for determining shareholders eligible to receive the postal ballot notice is June 26, 2026. The results of the voting will be declared on or before August 18, 2026.

Calendar of Events

The company has established the following timeline for the postal ballot process:

The filing was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board meeting commenced at 4:30 P.M. and concluded at 5:00 P.M. on July 10, 2026.