Promoter Aslam Kagdi acquired 69,900 equity shares of Hawa Engineers Ltd , representing 1.98% of the share capital, from promoter group member Jamilabibi Fazlurrehman Kagdi on October 7, 2026.

The transaction was executed as a gift without consideration through an off-market inter-se transfer. This acquisition increases Aslam Kagdi’s holding from 5.21% to 7.19%, while reducing Jamilabibi’s holding to zero. The aggregate promoter and promoter group shareholding in the company remains unchanged.

Shareholding Details

The transfer falls under Regulation 10(1)(a)(i) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, which exempts such inter-se transfers among promoters from making an open offer. The company's total equity share capital stood at 35,26,400 shares before and after the acquisition.

The necessary disclosure regarding the proposed acquisition was filed with the BSE on September 29, 2026.

Hawa Engineers Ltd reported a net profit of ₹57.02 lakh for the quarter ended September 30, 2026 (Q2FY27), marking an 8.1% increase year-on-year from ₹52.73 lakh in the corresponding period of the previous fiscal year.

Despite the profit growth, the Ahmedabad-based industrial valve manufacturer witnessed a significant contraction in top-line performance. Revenue from operations stood at ₹20.93 crore for the quarter, down 33.6% from ₹31.53 crore recorded in Q2FY26. The half-year figures for H1FY27 also reflected this downward trend, with revenue falling to ₹44.69 crore from ₹56.52 crore in H1FY26.

Financial Performance Snapshot

The company’s profitability improved despite lower sales volumes, driven by cost management and operational efficiencies. Below is the detailed breakdown of the key financial metrics for the quarter and half-year periods.

Note: Figures are in Lakhs as per the standalone unaudited financial results.

What the Numbers Show

A distinct divergence emerged between revenue trends and margin expansion. While revenue contracted sharply by 33.6% YoY, total expenses fell by a steeper 34.2%, allowing the operating profit before tax to rise 22.9%. This suggests that the reduction in variable costs, particularly materials consumed (down 33.8% YoY), outpaced the decline in sales, thereby protecting margins.

Furthermore, the balance sheet indicates a strengthening liquidity position alongside reduced working capital intensity. Trade receivables decreased significantly to ₹20.13 crore from ₹25.26 crore as of March 31, 2026, while cash and cash equivalents remained robust at ₹14.60 crore. However, net cash flow from operating activities turned negative at ₹77.99 lakh for the six-month period, primarily due to a substantial outflow related to trade and other payables (₹648.61 lakh reduction).

Board Approval and Auditor Review

The Board of Directors approved the unaudited standalone financial results during its meeting held on October 3, 2026, at the company’s registered office in Ahmedabad. The statutory auditors, Yusuf C. Mansuri & Co., issued an unmodified conclusion on the results, confirming they were prepared in accordance with Ind AS 34 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company operates under a single reportable segment, Industrial Valves, and continues to maintain ISO certifications for quality, environmental, and occupational health and safety management systems.