California Software Company Limited has announced that its board meeting is scheduled to be held on Thursday, May 28, 2026. The meeting will be convened to consider and approve certain corporate and business matters of the company.

The intimation regarding the board meeting was made pursuant to Regulation 29 and other applicable provisions of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Meeting Details

The following table provides the key details regarding the upcoming board meeting:

The purpose of the meeting is to deliberate on corporate and business matters. The company has informed the National Stock Exchange of India Limited and BSE Limited regarding the scheduled meeting.

California Software Company Limited announced its audited financial results for the quarter and year ended March 31, 2026, following a Board meeting held on April 29, 2026. The company reported standalone revenue from operations of Rs 1,965.76 lakhs for the full financial year, compared to Rs 544.64 lakhs in the previous year. Net profit after tax for FY26 stood at Rs 1,062.63 lakhs, up from Rs 71.94 lakhs in FY25. For the quarter ended March 31, 2026, revenue reached Rs 1,402.64 lakhs with a net profit of Rs 919.74 lakhs.

Financial Performance Overview

The standalone financial results show strong growth across key metrics. Total income for the year ended March 31, 2026, was Rs 1,965.76 lakhs, while total expenses amounted to Rs 533.39 lakhs. Profit before tax for the year was Rs 1,432.37 lakhs. The company's earnings per share (basic and diluted) increased to Rs 1.72 for FY26 from Rs 0.12 in the previous year.

Balance Sheet Position

The company's total assets as of March 31, 2026, stood at Rs 5,268.11 lakhs, compared to Rs 3,049.44 lakhs in the previous year. Total equity increased to Rs 4,437.68 lakhs from Rs 2,763.36 lakhs. Current assets totaled Rs 4,743.83 lakhs, while current liabilities amounted to Rs 830.43 lakhs. The company reported cash and cash equivalents of Rs 599.38 lakhs as of March 31, 2026.

Auditor's Qualified Opinion

Statutory auditors K. Gopal Rao & Co. issued a qualified opinion on the standalone financial results. The qualifications include: a current tax asset (net) of Rs 380.02 lakhs subject to reconciliation with non-quantifiable effect; an investment in equity instrument of subsidiary amounting to Rs 311.38 lakhs requiring impairment testing; and trade receivables of Rs 1,088.21 lakhs plus Rs 18.41 lakhs under other current financial assets that are overdue without provision, leading to overstated profit. Additionally, balance confirmation was not available for trade receivables of Rs 593.55 lakhs.

The auditors also drew attention to an emphasis of matter regarding other current financial assets of Rs 2,018.69 lakhs, which includes Rs 2,000 lakhs treated as advance for investment in a foreign company. Sufficient appropriate audit evidence was not available to prove recoverability of this amount.

Consolidated Results

The consolidated financial results, which include subsidiary M/s. Aspire Communications Private Limited, reflected similar performance with revenue of Rs 1,965.76 lakhs and net profit of Rs 1,062.63 lakhs for FY26. Total consolidated assets stood at Rs 4,957.83 lakhs as of March 31, 2026. The auditors issued a qualified opinion on the consolidated results as well, citing similar concerns regarding the current tax asset and overdue trade receivables.

Management Response

In its statement on the impact of audit qualifications, management stated that the current tax asset of Rs 380.02 lakhs pertains to tax credits relating to earlier assessment years pending reconciliation. Regarding the investment in equity instruments of Rs 311.38 lakhs, management described these as strategic investments in subsidiaries engaged in emerging technology areas and believes the carrying value is largely supportable. For the overdue trade receivables, management noted that a significant portion was invoiced close to year-end and is within the normal credit period, with no material evidence of impairment identified under the Expected Credit Loss model.