Delta Autocorp Limited reported a 22% decline in net profit to ₹656.02 lakh for the year ended March 31, 2026, primarily due to a ₹158 lakh provision for fraud. Revenue from operations fell 4.2% to ₹7,966.32 lakh from ₹8,318.51 lakh in the previous year. Total income decreased 1.5% to ₹8,273.69 lakh. The Board of Directors approved the audited standalone and consolidated financial results at a meeting on May 29, 2026.

The company disclosed a manipulation of funds by an official who diverted payments amounting to ₹158 lakh to vendors and transporters by impersonating a legitimate vendor. This fraud occurred during FY26 and the preceding year. The company accounted for the amount by creating a provision for doubtful advances, which reduced profit after tax (PAT) by ₹158 lakh. Of the total fraud amount, ₹36.06 lakh related to FY25 and was reported as a prior period item.

Total expenses for the year rose to ₹7,379.64 lakh from ₹7,269.25 lakh. Other expenses increased significantly to ₹1,254.81 lakh from ₹649.74 lakh. Finance costs decreased to ₹4.09 lakh from ₹21.30 lakh. Earnings per share (EPS) for the year stood at ₹4.29, down from ₹5.49 in the previous year.

On the balance sheet, total assets increased to ₹8,936.67 lakh as of March 31, 2026, from ₹8,490.02 lakh a year earlier. Shareholders' funds rose to ₹7,990.98 lakh, driven by an increase in reserves and surplus to ₹6,462.01 lakh. Cash and cash equivalents improved to ₹3,659.73 lakh from ₹3,278.11 lakh.

IPO Proceeds Utilisation

The company partially utilised the proceeds from its Initial Public Offer (IPO) of ₹5,054.40 lakh. As of March 31, 2026, ₹2,341.40 lakh had been utilised, leaving ₹2,313 lakh unutilised and held in fixed deposits. Funds were deployed towards working capital requirements, general corporate purposes, and new product development, while expenditure for setting up an electric three-wheeler fabrication plant remained unutilised.

Auditor's Report and Subsidiary Status

Statutory auditors Padam Dinesh & Co and V. Singhi & Associates issued an unmodified opinion on the financial results. However, they drew attention to the fraud noted in the financial results. Additionally, the auditors highlighted that the subsidiary, Electrofine Motors Private Limited, had a negative net worth of ₹7.51 lakh as of March 31, 2026, with current liabilities exceeding current assets, indicating a material uncertainty regarding its ability to continue as a going concern.

Delta Autocorp Limited has announced an earnings call to discuss its financial performance for the half year and year ended March 31, 2026. The conference is scheduled for June 5, 2026, at 02:00 PM, providing investors with an opportunity to review the company's results for FY26. The disclosure was made to the National Stock Exchange of India Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The earnings call will feature participation from the company's senior management team. Key speakers include Mr. Ankit Agarwal, Managing Director, and Mrs. Priyanka Agarwal, Chief Financial Officer & Whole-time Director. Other participants include Mr. Aman Alok, Vice President Marketing and Sales, along with Mr. Rishab Malik and Mr. Mukesh Saini, both AGMs in the Finance & Accounts department.

Investors and members interested in attending the call must register using the diamond pass weblink to obtain the necessary dial-in details. The company has provided universal dial-in numbers for the conference. Participants are advised to dial in 10 minutes prior to the scheduled start time to ensure timely connection.

The schedule for the earnings call remains subject to change due to exigencies on the part of investors or the company. The invitation and registration details are available in the attached communication sent to the exchange.

Participants and Details

The communication was signed by Rama Kanojia, Company Secretary & Compliance Officer for Delta Autocorp Limited.