Binny Limited reported a net profit of ₹997.84 lakh for the quarter ended September 30, 2025, a substantial increase compared to the ₹371.22 lakh recorded in the quarter ended June 30, 2025. Revenue from operations for the quarter stood at ₹1,591.36 lakh, up from ₹943.88 lakh in the previous quarter. The Board of Directors approved the unaudited financial results at a meeting held on June 3, 2026.

Financial Performance

The company’s total income for Q2FY26 reached ₹1,591.36 lakh, compared to ₹943.88 lakh in Q1FY26. Total expenses for the quarter were reported at ₹311.95 lakh, lower than the ₹239.11 lakh in the prior quarter, which included changes in inventories and employee benefit expenses. Profit before tax for the period was ₹1,279.41 lakh, leading to a profit for the period of ₹997.84 lakh after tax expenses. The basic and diluted earnings per share for the quarter were recorded at ₹4.47.

Key Financial Metrics (Q2FY26 vs Q1FY26)

Auditor’s Qualified Conclusion

Venkatesh & Co., the Independent Auditor, issued a qualified conclusion in its review report pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The qualification stems from two primary matters. First, the company advanced ₹2,918.05 lakh to RRB Energy Limited in earlier years, for which sufficient appropriate audit evidence supporting recoverability was not provided, and no impairment has been considered. The company has filed for insolvency proceedings against RRB Energy Limited before the National Company Law Tribunal (NCLT), New Delhi.

Second, regarding the Sale Agreement with M/s Sanklecha Infra Projects Private Ltd, the company has not recognised revenue of ₹1,912 lakh as possession was handed over via a registered power of attorney. The auditor stated they were unable to comment on the completeness and appropriateness of revenue recognition or the correctness of the receivable balance due to the lack of confirmation of balance and unascertainable land costs in inventory.

Operational and Legal Updates

The revenue recognition for the quarter includes ₹2,383.70 lakh from a settlement under a Joint Development Agreement with M/s SPR Construction Pvt Ltd. This settlement involves a lump sum payment for 53.18 lakh sq. ft. of saleable area and an area-sharing model for the remaining development. The company also noted the status of its Settlement Scheme with M/s. Mohan Breweries and Distilleries Limited (MBDL), stating that advances of ₹28,530 Lakhs were adjusted against preference share capital and dividend arrears, considering the scheme fully implemented.

Regarding the legal action against RRB Energy Limited for the recovery of ₹82,918.05 lakh, the company informed that the application under Section 9 of the Insolvency and Bankruptcy Code was admitted by the NCLT. The next hearing is scheduled for July 17, 2026. The company also stated that revenue from the Sanklecha Infra project would be recognised upon receipt of the balance consideration of ₹1,912 lakh.

Binny Limited adopted the audited financial statements for the financial year ended March 31, 2025, at its Adjourned 56th Annual General Meeting (AGM) held on May 29, 2026. The resolution received 99.99% of the total valid votes cast, with 99.99% in favor and 0.01% against. The meeting was conducted through Video Conferencing and Other Audio-Visual Means (VC/OAVM) in compliance with Ministry of Corporate Affairs and Securities and Exchange Board of India (SEBI) circulars.

Shri. Satyanarayanan Balakrishnan, Whole-time Director, chaired the proceedings. The remote e-voting facility, provided by Central Depository Services (India) Limited (CDSL), was open from May 26, 2026, to May 28, 2026. Mr. Sriram Parthasarathy, Practising Company Secretary and Partner at SPNP & Associates, served as the Scrutiniser.

The total number of shareholders as on the record date of May 22, 2026, was 12,074. Attendance was limited to public shareholders, with 51 members participating via video conference. No promoter group members were present in person, through proxy, or via video conference.

Shareholder Attendance

Voting Results

The ordinary resolution to adopt the financial statements was passed. A total of 21 members voted via remote e-voting and e-voting at the AGM. The votes cast in favor totaled 1,26,01,491, while votes against totaled 404.

The Scrutiniser reconciled the voting records with M/s. Cameo Corporate Services Limited, the Registrar and Share Transfer Agents. The meeting concluded at 03:40 PM, and the results were announced by the Chairman.