Hardcastle & Waud Mfg Co Ltd reported a net profit of ₹106.92 lakh for the quarter ended June 30, 2026, marking a 38.7% increase from ₹77.07 lakh in Q1FY26. The company’s revenue from operations rose 23.98% year-on-year to ₹240.91 lakh, supported by robust growth in its trading and investments segments. This performance reflects improved operational efficiency and higher income generation across key business verticals, with the investments segment remaining the primary profit driver.

The Board of Directors approved the unaudited financial results at a meeting held on August 5, 2026. Desai Saksena & Associates, the statutory auditors, issued a limited review report confirming that the statement complies with Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were also reviewed by the Audit Committee on the same date. The figures for the quarter ended March 31, 2026, are balancing figures between audited full-year figures and unaudited year-to-date figures up to the third quarter.

Financial Performance Highlights

Total expenses stood at ₹120.34 lakh, up from ₹101.50 lakh in the previous year. Legal and professional fees decreased significantly to ₹6.58 lakh from ₹12.27 lakh, while employee benefit expenses rose to ₹14.17 lakh from ₹12.30 lakh. Other income increased marginally to ₹12.26 lakh from ₹11.50 lakh. Purchases of stock-in-trade rose to ₹55.47 lakh from ₹37.37 lakh.

Segment-wise Analysis

The investments segment emerged as the primary profit driver, contributing ₹101.54 lakh to segment results, compared to ₹94.91 lakh in Q1FY26. Segment revenue from investments grew 12.99% to ₹107.24 lakh. The trading segment saw robust revenue growth of 75.55% to ₹75.80 lakh, with segment profits rising sharply to ₹20.33 lakh from ₹5.81 lakh. Leasing revenue remained stable at ₹57.87 lakh, with segment profits at ₹32.04 lakh.

What the Numbers Show

A notable divergence exists between revenue growth and expense management. While revenue grew by nearly 24%, total expenses increased by only 18.56%. This cost discipline was largely driven by a 46% reduction in legal and professional fees, which more than offset increases in employee benefits and other expenses. Consequently, the profit before tax margin expanded, leading to a disproportionately higher growth in net profit compared to revenue.

Other comprehensive income, net of tax, dropped significantly to ₹5.71 lakh from ₹42.26 lakh in the prior year. Total comprehensive income for the quarter was ₹112.63 lakh. The company’s paid-up equity share capital remained unchanged at ₹67.95 lakh. Total segment assets rose to ₹5,499.21 lakh from ₹5,014.64 lakh, primarily due to an increase in investment assets to ₹3,227.23 lakh from ₹2,755.93 lakh.

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.