Billwin Industries Limited has disclosed a delay in reporting the resignation of Independent Director Mr. Rakesh Gurnomal Rohera, which became effective on March 31, 2026. The company attributed the lapse to an inadvertent error in its internal compliance reporting process, which prevented the submission of the required disclosure to the stock exchanges within the prescribed timeline. The omission was identified during an internal compliance review, prompting the immediate submission of the details to the exchanges.

The company clarified that the delay was neither deliberate nor intended to withhold material information from investors. In a letter to the Bombay Stock Exchange, Billwin Industries expressed regret over the lapse and confirmed that necessary corrective measures have been implemented to strengthen its internal compliance monitoring mechanism. The resignation was initially submitted via email by Mr. Rakesh Gurnomal Rohera on March 31, 2026, citing personal reasons, and was accepted by the Board on the same date.

Separately, the company also announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Ms. Janvhi Ajit Tawde. Her resignation is effective June 10, 2026, and was confirmed in a letter dated June 5, 2026. Ms. Tawde stated that she would ensure a smooth transition of responsibilities before her departure.

The cessation of roles for the two executives is detailed below:

The disclosures were made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Following the resignation of Mr. Rakesh Gurnomal Rohera, he has ceased to be a member of the Committees of the Board. The company stated that it will take the necessary steps to update its records with the exchanges.

Billwin Industries reported a 31.2% decline in net profit to ₹46.76 lakh for the financial year ended March 31, 2026, compared to ₹67.94 lakh in the previous year. Revenue from operations rose 14.9% to ₹808.48 lakh from ₹703.27 lakh in FY25, driven by higher sales volumes. However, total expenses increased to ₹741.30 lakh from ₹601.99 lakh, primarily due to a rise in the cost of materials consumed to ₹700.30 lakh and employee benefit expenses to ₹94.69 lakh.

The board approved the audited financial results for the half-year and year ended March 31, 2026, at its meeting held on May 30, 2026. The company appointed M/s. S D Satam & Co. as Internal Auditor and M/s. S.A. & Associates as Secretarial Auditor for FY 2026-27. The statutory auditor, M/s. Jay Gupta & Associates, issued an independent audit report confirming the results give a true and fair view.

Financial Performance

For the half-year ended March 31, 2026, the company recorded a profit after tax of ₹14.33 lakh, a decrease from ₹29.60 lakh in the same period of the previous year. Revenue for the half-year stood at ₹400.51 lakh. Basic earnings per share (EPS) for the full year declined to ₹1.12 from ₹1.77 in the prior year.

Balance Sheet and Cash Flow

Total assets increased to ₹1,858.90 lakh as of March 31, 2026, from ₹1,626.96 lakh a year earlier. Inventories surged to ₹861.14 lakh from ₹550.10 lakh, while trade receivables decreased to ₹791.32 lakh from ₹896.61 lakh. Short-term borrowings rose significantly to ₹154.40 lakh from ₹28.58 lakh.

Cash flow from operating activities resulted in a net outflow of ₹98.75 lakh, compared to an outflow of ₹254.09 lakh in FY25. The company reported a net decrease in cash and cash equivalents of ₹0.49 lakh during the year, bringing the closing balance to ₹1.25 lakh.

Auditor Observations

The statutory auditor noted that the company has not obtained an actuarial valuation for its gratuity obligations as required under Accounting Standard (AS) 15. Consequently, the gratuity liability and related disclosures have not been recognized in the financial results. The auditor stated they are unable to ascertain the impact of this non-compliance but did not modify their opinion.