Garnet International reported a consolidated net profit of ₹474.75 lakh for the financial year ended March 31, 2026, a significant increase from ₹153.46 lakh in the previous year. The standalone net profit for the year stood at ₹340.64 lakh, compared to ₹9.99 lakh in FY25. The Board of Directors approved the audited financial results at a meeting held on May 30, 2026.

Sarda Soni Associates LLP, the statutory auditor, issued a qualified opinion on the standalone and consolidated financial results. The audit report highlighted that the company did not make interest provisions or receive interest on an unsecured inter-corporate loan of ₹996.80 lakh, with a year-end balance of ₹1,112.80 lakh, violating Section 186(7) of the Companies Act, 2013. Furthermore, the company neither paid nor provided interest on borrowings amounting to ₹100 lakh. The auditors stated that recognizing this interest would have increased finance costs and reduced the reported profit.

The audit report also noted that the company granted an interest-free unsecured loan to its subsidiary without making interest provisions, which is non-compliant with Section 186(7) of the Act. Additionally, the company carries outstanding inter-corporate borrowings and advances that present a regulatory classification matter for its Type I NBFC category. The auditors expressed an inability to determine the extent of the impact of these matters on the profit for the year and net assets as of March 31, 2026.

Trade receivables include ₹228.71 lakh from two parties currently under the National Company Law Tribunal (NCLT). The company has not made any provision for this amount, citing that it is awaiting a final order. Furthermore, certain balances related to trade receivables, deposits, loans, advances, and trade payables are subject to confirmation from respective parties, making the consequential impact on the accounts unascertainable.

Financial Performance

The company's total consolidated income for FY26 rose to ₹487.47 lakh from ₹873.46 lakh in the previous year. Total expenses decreased to ₹149.31 lakh from ₹854.52 lakh in FY25. The basic earnings per share (EPS) for the year increased to ₹2.42 from ₹0.78 in the prior year.

Asset and Liability Position

The total consolidated assets as of March 31, 2026, stood at ₹4,526.71 lakh, compared to ₹4,260.39 lakh in the previous year. Equity attributable to the equity holders of the holding company increased to ₹4,248.03 lakh from ₹3,772.30 lakh. The company's borrowings decreased to ₹100.95 lakh from ₹300.95 lakh over the same period.

Garnet International Limited has informed the Bombay Stock Exchange that its Board of Directors will meet on Saturday, May 30, 2026. The meeting is being convened pursuant to Regulation 29 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The primary agenda for the upcoming board meeting is to consider and approve the audited standalone and consolidated financial results for the quarter and financial year ended March 31, 2026. The approval will include the accompanying Auditor's Report for the specified periods.

In conjunction with the board meeting, the company has disclosed the status of its trading window. As per the company's Code of Conduct for Insider Trading, the trading window for dealing in the securities of Garnet International Limited has been closed for all directors and designated persons. This closure came into effect at the close of business hours on March 31, 2026, and will remain shut until 48 hours after the financial results are communicated to the stock exchanges.

Board Meeting Agenda

The meeting will focus on the following key items:

• Consideration and approval of Audited Standalone Financial Results for the quarter and year ended March 31, 2026.
• Consideration and approval of Audited Consolidated Financial Results for the quarter and year ended March 31, 2026.
• Discussion on any other matter with the permission of the Chair.

Key Dates and Compliance Details