BEML Land Assets Limited, a Schedule 'C' Government of India Company under the Ministry of Defence, reported a significant turnaround in its financial performance for the year ended 31st March 2026. The company posted a net profit of ₹1.07 lakhs for FY26, compared to a net loss of ₹374.73 lakhs in FY25, marking its first profitable year since incorporation. The Board of Directors approved the standalone audited financial results at its 29th meeting held on 18th May 2026 in Bengaluru.

Revenue and Profitability: A Landmark Turnaround

The company's financial recovery was anchored by the commercialisation of its land parcels located at Mysuru and Bengaluru. During the quarter ended 31st March 2026, the company executed operating lease agreements with BEML Limited for 302.26 acres of land in Mysuru and 36 acres in Bengaluru at ₹3.93 crores per annum, payable quarterly. Rental income from these leases is recognised on a straight-line basis over the lease term, resulting in ₹98.25 lakhs being recognised as lease rental income for the year ended 31st March 2026. This was the company's first revenue from operations.

The following table presents the key financial performance metrics for the quarter and year ended 31st March 2026 (₹ in lakhs):

Deferred Tax Asset Recognition Drives Bottom Line

A key accounting development during FY26 was the recognition of a Deferred Tax Asset (DTA) of ₹324.36 lakhs. This recognition was made in accordance with Ind AS 12 (Income Taxes), based on the virtual certainty of future taxable income supported by the executed long-term operating lease agreements for the Mysuru and Bengaluru properties. The company revised its accounting policies to accommodate this change. For the full year, current tax stood at ₹324.36 lakhs and deferred tax at ₹1.07 lakhs, resulting in the net profit of ₹1.07 lakhs.

Balance Sheet and Cash Flow Highlights

The company's total assets grew to ₹1,310 lakhs as at 31st March 2026, from ₹986 lakhs as at 31st March 2025, primarily driven by the recognition of deferred tax assets of ₹324 lakhs and an increase in investment property to ₹973 lakhs from ₹963 lakhs. Total equity stood at ₹112 lakhs as at 31st March 2026, compared to ₹111 lakhs in the prior year, with equity share capital at ₹4,164 lakhs and other equity at ₹(4,052) lakhs.

The following table summarises the key balance sheet positions (₹ in lakhs):

On the cash flow front, net cash flow from operating activities improved to ₹128.70 lakhs in FY26 from ₹94.36 lakhs in FY25. Net cash used in investing activities was ₹(18.30) lakhs, while net cash used in financing activities was ₹(109.30) lakhs. Cash and cash equivalents at the end of the year stood at ₹1.85 lakhs, up from ₹0.75 lakhs at the beginning of the year.

Regulatory Non-Compliances and Auditor Observations

The statutory auditors, N. Tatia & Associates (Firm Registration Number: 011067S), issued an unqualified audit opinion on the standalone Ind AS financial statements for the year ended 31st March 2026. However, the auditors highlighted several significant compliance concerns:

• Absence of Independent Directors: There is currently no Independent Director on the Board. The company has requested the Government of India to issue necessary orders for the appointment of a Women Independent Director, and a response is awaited.
• Board Committee Non-Constitution: The Audit Committee, Nomination and Remuneration Committee, and Stakeholder Relationship Committee were not constituted as required under SEBI (LODR) Regulations 2015 and the Companies Act, 2013 for FY 2025-26. Committees constituted during the year ceased to exist following the cessation of one independent director with effect from 17th April 2026.
• Stock Exchange Penalties: Stock exchanges imposed penalties for non-compliance with SEBI (LODR) Regulations 2015 as follows:

The company has been submitting applications to BSE and NSE seeking waiver of these fines, and has also written to the Ministry of Defence to facilitate the appointment of requisite directors.

Property Transfer and Fair Valuation

The auditors drew attention to the fair valuation of investment property under Ind AS 40. The company has adopted the cost model for valuation of investment properties. As per a certified valuer's report dated 22nd October 2022, the fair value of the property is ₹2,32,537 lakhs. The company has initiated fresh valuation of assets during FY 2026-27, as registration of ownership titles for the majority of properties is currently in progress from BEML Limited to BEML Land Assets Limited.

Regarding land registration, out of 401.356 acres at Mysuru identified for demerger, 302.284 acres have been transferred to BEML Land Assets Limited. Title transfers for properties at Bhopal, Delhi, Chennai, Goa, and Kochi have been completed on various dates between 21st March 2025 and 28th April 2026. Registration of other properties remains in progress. The company has also taken up the matter with the Government of Karnataka for 100% exemption on stamp duty for property title transfers.

BEML Land Assets Limited , a Schedule 'C' Company under the Ministry of Defence, Government of India, has notified the stock exchanges of an upcoming board meeting scheduled for Monday, May 18, 2026, at 10:00 A.M. The intimation has been filed pursuant to Regulation 29 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Details

The board meeting has been convened to consider and approve the audited financial results for the year ended March 31, 2026, along with the results for the fourth quarter ended on that date. The key details of the scheduled meeting are outlined below:

Trading Window Closure

In connection with the upcoming financial results, BEML Land Assets Limited has also communicated the status of its trading window. The trading window was closed effective April 1, 2026, as communicated vide the company's letter reference CS/BLAL/SEs/169 dated March 26, 2026. The trading window will remain closed until 48 hours after the declaration of the financial results.

The intimation was issued by Bharti Ramchandani, Company Secretary and Compliance Officer (ICSI Membership No. 11651), on May 8, 2026, under reference CS/SEs/178.