hardcastle & waud mfg announced the retirement of Independent Director Mr Sunil Kantilal Trivedi from its board effective May 29, 2026. The director completed his second term of five years, which concluded by efflux of time. The company confirmed his cessation as director in a regulatory filing.

The disclosure was made to BSE Ltd under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Mr Sunil Kantilal Trivedi held the DIN 00387797 during his tenure.

Hardcastle And Waud Manufacturing Company Limited placed on record its appreciation for the commitment and valuable contributions provided by Mr Sunil Kantilal Trivedi during his association with the company as Independent Director. The filing was signed by Smita Achrekar, Company Secretary & Compliance Officer.

Hardcastle & Waud Manufacturing Company Limited has reported its audited financial results for the quarter and year ended March 31, 2026. The Board of Directors approved the results at its meeting held on May 14, 2026, which commenced at 2:30 pm and concluded at 3:10 pm.

Financial Performance Overview

The company delivered a strong full-year performance, with net profit rising sharply to ₹493.20 lakh from ₹128.69 lakh in the previous year. Revenue from operations grew to ₹1,061.42 lakh from ₹588.93 lakh, while total income for the year stood at ₹1,110.76 lakh, compared to ₹633.16 lakh in the prior year. Total expenses for the year increased to ₹570.14 lakh from ₹354.90 lakh. Profit before tax for the year was recorded at ₹540.62 lakh, against ₹278.26 lakh previously. Basic and diluted earnings per share (EPS) for the year rose to ₹72.59 from ₹18.94 in the previous year.

The following table summarises the key financial metrics for the year:

Quarterly Results

For the quarter ended March 31, 2026, the company posted a net profit of ₹204.50 lakh, compared to ₹8.54 lakh in the same quarter of the previous year. Revenue from operations for the quarter stood at ₹336.00 lakh, up from ₹177.33 lakh in the corresponding period. Total income for the quarter was ₹349.27 lakh, against ₹188.56 lakh previously. Total expenses for the quarter were ₹174.72 lakh, and profit before tax was ₹174.55 lakh. Basic and diluted EPS for the quarter stood at ₹30.10.

Segment Performance

The company operates across three segments: Trading, Investments, and Leasing. For the year ended March 31, 2026, the Investments segment contributed the highest revenue at ₹445.37 lakh, followed by Leasing at ₹335.87 lakh and Trading at ₹280.18 lakh. In terms of profitability, the Investments segment led with a profit before tax and interest of ₹394.96 lakh, followed by Leasing at ₹229.05 lakh and Trading at ₹45.44 lakh.

Balance Sheet and Cash Flow Highlights

As at March 31, 2026, total assets stood at ₹5,394.54 lakh, up from ₹4,866.30 lakh in the previous year. Equity share capital remained unchanged at ₹67.95 lakh, while other equity grew to ₹5,003.10 lakh from ₹4,484.39 lakh. Net worth as at March 31, 2026 was ₹5,071.05 lakh, compared to ₹4,552.34 lakh previously. Non-current investments stood at ₹2,687.21 lakh, and cash and cash equivalents at the close of the year were ₹80.67 lakh, up from ₹13.13 lakh at the start of the year.

On the cash flow front, net cash used in operating activities was ₹(386.13) lakh for the year, while net cash from investing activities was ₹453.67 lakh, resulting in a net increase in cash and cash equivalents of ₹67.54 lakh.

Dividend and Auditor's Report

The Board of Directors did not recommend any dividend on equity shares for the financial year ended March 31, 2026. The statutory auditors, Desai Saksena & Associates (Firm Registration Number: 0102358W), issued an audit report with an unmodified opinion on the audited financial results for the quarter and year ended March 31, 2026. The results were reviewed by the Audit Committee and approved by the Board at their respective meetings held on May 14, 2026.