Dhatre Udyog Limited reported a net loss of ₹182.09 lakh for the financial year ended March 31, 2026, a sharp decline from the net profit of ₹169.77 lakh recorded in the previous year. Revenue from operations fell significantly to ₹912.18 lakh in FY26 from ₹14,429.31 lakh in FY25. The company's board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, during a meeting held on May 29, 2026. The statutory auditor, M/s. P. D. Rungta & Co., issued a qualified opinion on the financial statements, highlighting a material uncertainty related to the company's status as a going concern due to the shutdown of its manufacturing operations.

Financial Performance and Operational Shutdown

The company's total income for FY26 stood at ₹1,141.47 lakh, down from ₹14,459.79 lakh in the previous year. For the quarter ended March 31, 2026, the company reported a net profit of ₹7.90 lakh, compared to a net profit of ₹34.43 lakh in the corresponding quarter of the previous year. The financial results indicate that the company has ceased manufacturing operations at its plant in Vizianagaram due to ageing machinery and technology obsolescence. The board decided to dispose of the plant and machinery as scrap and the factory land separately. The company is currently exploring the possibility of venturing into real estate development at its land in Jamshedpur.

Auditor's Qualified Opinion and Going Concern Risk

M/s. P. D. Rungta & Co., the Statutory Auditor, expressed a qualified opinion on the standalone and consolidated financial results. The qualification arises because balances under trade receivables, advances, and trade payables are subject to confirmations and adjustments, the impact of which could not be ascertained in the absence of pending reconciliations. Furthermore, the auditor drew attention to a material uncertainty regarding the company's ability to continue as a going concern. Despite the operational shutdown and disposal of assets, the financial statements have been prepared on a going concern basis.

Key Financial Metrics for FY26

The following table summarizes the key financial figures for Dhatre Udyog Limited for the year ended March 31, 2026, compared to the previous year:

Board Decisions and Personnel Changes

Alongside the financial results, the board approved the re-appointment of M/s. A. Ramchandra Rao & Co. as the Internal Auditor for the financial year 2026-27. In a significant personnel change, Mrs. Ankita Dutta resigned from her position as Company Secretary & Compliance Officer and Key Managerial Personnel effective from the close of business hours on May 30, 2026, citing personal reasons. The board meeting was conducted pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dhatre Udyog Limited (formerly Narayani Steels Limited) disclosed on 13th May, 2026 that BSE Limited has imposed a fine of Rs.6,56,080/- (inclusive of GST) on the company. The disclosure was made pursuant to Regulation 30 read with Sub-Para 20, Para A, Part A, Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The fine was communicated by BSE via email dated 12th May, 2026.

Nature of Violation and Fine Details

The fine has been levied for non-submission of required disclosures within the prescribed timelines under SEBI Listing Regulations, 2015. The violations span multiple regulatory provisions and reporting periods. The table below summarises the key details of the regulatory action as disclosed by the company:

Company's Response and Impact Assessment

Dhatre Udyog has stated that it is in the process of seeking waiver, withdrawal, or reduction of the said fine. This effort is particularly directed at non-compliances pertaining to the period prior to the implementation of the Resolution Plan approved by the Hon'ble NCLT. The company has further clarified that there is no material impact on its financials, operations, or other activities as a result of the aforesaid regulatory action.

Regulatory Disclosure Framework

The disclosure was made in accordance with SEBI Circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated 30th January, 2026, read with Regulation 30 and Para A of Part A of Schedule III of the SEBI Listing Regulations, 2015. The filing was signed by Ankita Dutta, Company Secretary and Compliance Officer of Dhatre Udyog Limited, on 13th May, 2026.