IND Renewable Energy reported a net loss of ₹120.90 lakh for the financial year ended March 31, 2026, as the company recorded zero revenue from operations. The Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 26, 2026.

The company’s total expenses for the year rose to ₹120.01 lakh, driven primarily by other expenses which stood at ₹119.49 lakh. In the corresponding previous year, the company had reported a net loss of ₹7.95 lakh on total income of ₹6.31 lakh. For the quarter ended March 31, 2026, the net loss was ₹104.78 lakh compared to a profit of ₹0.21 lakh in the same period last year.

Financial Performance

The financial statements show a complete absence of operational income during the year. The basic and diluted earnings per share (EPS) for the year stood at a loss of ₹0.868, worsening from a loss of ₹0.057 in the previous year.

Balance Sheet and Cash Flows

The company’s total assets as of March 31, 2026, stood at ₹2,683.30 lakh, slightly up from ₹2,672.35 lakh in the previous year. Equity share capital remained constant at ₹1,392.60 lakh, while total equity decreased to ₹2,483.75 lakh from ₹2,604.64 lakh due to the accumulated losses. Borrowings increased to ₹60.23 lakh from ₹47.22 lakh.

Cash flow from operating activities resulted in a net outflow of ₹12.51 lakh for the year. The company reported a net increase in cash and cash equivalents of negative ₹0.01 lakh, bringing the closing balance to ₹0.43 lakh.

Auditor’s Report

Statutory auditors K S Subrahmanyam & Co. issued an unmodified opinion on the standalone Ind AS financial statements. The auditors confirmed that the company has adequate internal financial controls over financial reporting that were operating effectively as of March 31, 2026. The report also noted that no director was disqualified from being appointed as a director as of the reporting date.

IND Renewable Energy Limited (formerly known as Vakharia Power Infrastructure Limited) has notified BSE Limited of an upcoming board meeting scheduled for Tuesday, May 26, 2026. The intimation, dated May 14, 2026, was filed pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Board Meeting Agenda

The board meeting has been convened to consider and approve key financial matters. The following items are on the agenda for the meeting:

Trading Window Closure

In line with regulatory requirements, the company has also informed that the trading window shall remain closed up to 48 hours from the date the financial results are made available to the public. This measure is in accordance with the applicable provisions under SEBI's insider trading regulations.

The intimation has been signed by Director Abhay Gupta (DIN: 02294699) and has also been uploaded on the company's official website. The company is registered under CIN: L40102MH2011PLC221715 and is headquartered at 503, Western Edge II, Western Express Highway, Borivali East, Mumbai 400066.