Dutron Polymers reported a net profit of ₹70.32 lakh for the quarter ended June 30, 2026, a decline of 19.2% from ₹87.04 lakh in the corresponding period of FY25. Despite the drop in profitability, revenue from operations grew 1.5% year-on-year to ₹2,734.08 lakh, up from ₹2,694.11 lakh in Q1FY25.

The Ahmedabad-based manufacturer’s Board of Directors approved the unaudited standalone financial results on August 12, 2026. The results were reviewed by the Audit Committee on August 11 and subjected to a limited review by statutory auditors Krutesh Patel & Associates, who issued an unqualified opinion.

Financial Performance

The company’s total income stood at ₹2,748.37 lakh, compared to ₹2,708.43 lakh in the previous year’s quarter. While revenue grew modestly, operating expenses increased by 2.4% to ₹2,658.42 lakh from ₹2,597.35 lakh.

Basic earnings per share (EPS) fell to ₹1.17 from ₹1.45 in the same quarter last year. Finance costs decreased slightly to ₹10.51 lakh from ₹14.48 lakh, while employee costs remained relatively stable at ₹199.32 lakh.

What the Numbers Show

A divergence between top-line growth and bottom-line contraction is visible in the Q1FY26 results. While revenue expanded by 1.5%, net profit declined by nearly 20%. This suggests that cost pressures outpaced revenue growth during the quarter. Specifically, total expenses rose at a faster rate (2.4%) than revenue, squeezing margins. The profit before tax fell to ₹89.95 lakh from ₹111.08 lakh, indicating that operational efficiencies did not fully offset the higher expense base relative to income.

Corporate Governance Updates

Alongside the financial results, the Board approved several administrative matters:

• The draft notice for the 45th Annual General Meeting (AGM), scheduled for September 18, 2026, via video conferencing.
• Record date for AGM eligibility set as September 11, 2026, with book closure from September 12 to September 18, 2026.
• Appointment of Mrs. Jolly Krutesh Patel, Practicing Company Secretary, as the scrutinizer for the AGM voting process.
• Approval of the Draft Director’s Report, including the Corporate Governance Report and Management Discussion and Analysis.

The company operates in a single business segment: manufacturing of plastic pipes. Previous period figures have been regrouped to ensure comparability with the current period presentation.

Dutron Polymers Limited submitted its audited standalone financial results for the quarter and financial year ended 31st March 2026, subsequently publishing a newspaper advertisement of the same in the English and Gujarati editions of Western Times on 14th May 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors approved the results at their meeting held on 12th May 2026 and recommended a final dividend of ₹1.50 per equity share for FY26, subject to shareholder approval at the ensuing 46th Annual General Meeting. The statutory auditors issued an audit report with an unmodified opinion, while noting ongoing litigation before the National Company Law Tribunal, Ahmedabad.

Full Year Financial Performance

For the financial year ended 31st March 2026, the company recorded revenue from operations of ₹9,190.82 lakhs, compared to ₹10,403.01 lakhs in the previous year. Total income for FY26 stood at ₹9,250.62 lakhs against ₹10,461.72 lakhs in FY25. The company reported a profit after tax of ₹270.25 lakhs for FY26, marginally lower than ₹272.36 lakhs in FY25. Total comprehensive income for FY26 stood at ₹270.25 lakhs, compared to ₹258.05 lakhs in FY25. The following table presents the key financial metrics for the full year:

Quarterly Financial Performance

For the quarter ended 31st March 2026, the company reported revenue from operations of ₹2,302.48 lakhs, compared to ₹2,363.90 lakhs in the corresponding quarter of the previous year and ₹2,250.23 lakhs in the quarter ended 31st December 2025. Profit after tax for Q4 FY26 stood at ₹49.28 lakhs, compared to ₹36.23 lakhs in Q4 FY25 and ₹100.08 lakhs in Q3 FY26. The table below provides a comparative view of quarterly performance:

Balance Sheet Highlights

As at 31st March 2026, Dutron Polymers reported total assets of ₹4,171.49 lakhs, compared to ₹4,068.85 lakhs as at 31st March 2025. Total equity stood at ₹3,095.33 lakhs as against ₹2,915.08 lakhs in the previous year, reflecting the accretion of retained earnings. Non-current liabilities declined to ₹452.49 lakhs from ₹633.44 lakhs, primarily due to a reduction in non-current borrowings from ₹471.44 lakhs to ₹302.44 lakhs. Current assets increased to ₹3,307.45 lakhs from ₹3,167.92 lakhs, driven largely by higher inventories of ₹1,837.02 lakhs compared to ₹1,141.98 lakhs in the previous year.

Cash Flow Summary

The cash flow statement for the year ended 31st March 2026 reflects a net cash outflow from operating activities of ₹99.86 lakhs, compared to a net inflow of ₹533.82 lakhs in the previous year. Net cash outflow from investing activities was ₹16.84 lakhs, against ₹66.05 lakhs in FY25. Cash outflow from financing activities stood at ₹246.04 lakhs, which included dividend paid of ₹90.00 lakhs and interest expenses of ₹48.63 lakhs. Cash and cash equivalents at the close of the year stood at ₹(40.04) lakhs, compared to an opening balance of ₹322.70 lakhs.

Dividend and Other Disclosures

The Board of Directors recommended a final dividend of 15% of the equity share capital, amounting to ₹1.50 per equity share of face value ₹10 each for the financial year ended 31st March 2026, aggregating to ₹90 lakhs — consistent with the previous year's dividend. The recommended dividend is subject to the approval of shareholders at the ensuing 46th Annual General Meeting. The paid-up equity share capital of the company remained unchanged at ₹600.00 lakhs. The company operates in a single business segment.

Legal Proceedings

A petition has been filed before the National Company Law Tribunal (NCLT), Ahmedabad Bench, against the company and certain promoters. Pursuant to interim directions passed by the NCLT, the proceedings of the 43rd Annual General Meeting of the company are presently kept in abeyance, and accordingly, the payment of the final dividend for the year 2023-24 is also kept in abeyance until further orders. On 8th July 2024, a separate petition was filed before the NCLT under Sections 241 and 242 of the Companies Act, 2013, by Mr. Sudip Patel (Director and Promoter), Mrs. Rachana Patel (Promoter), and Mr. Nilay Patel (Promoter), alleging oppression and mismanagement in the affairs of the company. Dutron Polymers has denied all allegations, including those relating to fraud and mismanagement, and is taking appropriate legal steps to defend its position. The Hon'ble Tribunal has directed the parties to undergo mediation and has appointed a Mediator for facilitating resolution of the dispute.