Indo SMC Limited reported a significant financial turnaround for the fiscal year ended March 31, 2026, with Profit After Tax (PAT) rising to ₹3,238.30 lakh from ₹1,683.26 lakh in FY25. The company, an ISO 9001:2015 and ISO 14001:2015 certified manufacturer of electrical enclosures and transformers, attributed this growth to a robust order book and strategic expansion into new product segments. Revenue from operations surged to ₹30,973.93 lakh in FY26, compared to ₹13,869.25 lakh in the previous year, reflecting strong demand across its Sheet Moulding Compound (SMC), Fiberglass Reinforced Plastic (FRP), and Electrical Component divisions.

Operational Performance and Order Book

The company’s operational momentum is underscored by a healthy order book position valued at ₹142.45 crore as of February 9, 2026. Recent business highlights include securing cumulative purchase orders worth ₹54+ crore, covering FRP cable trays, SMC meter boxes, and busduct systems. A significant development was the entry into the busduct power distribution segment with an order worth ₹20.89 crore, showcasing diversification into high-performance industrial electrical infrastructure solutions. Additionally, the company received MSEDCL vendor approval for 11 kV metering cubicles, valid for two years, which enables participation in ongoing schemes with an estimated supply potential of ~₹10 crore.

Financial Highlights for FY26

Indo SMC’s financial performance for FY26 demonstrates substantial growth across key metrics. Total Income increased to ₹31,049.53 lakh from ₹13,877.92 lakh in FY25. The company’s EBITDA stood at ₹4,764.65 lakh, a significant improvement over the previous year. The second half of the fiscal year (H2 FY26) was particularly strong, with Revenue from Operations reaching ₹19,719.83 lakh compared to ₹6,892.72 lakh in H2 FY25. Profit Before Tax (PBT) for FY26 was recorded at ₹4,053.67 lakh, while H2 FY26 PBT stood at ₹2,650.19 lakh.

Profit & Loss Statement (₹ in Lakhs)

Strategic Expansion and Product Portfolio

The company continues to expand its manufacturing footprint with four facilities located across Gujarat, Maharashtra, and Rajasthan. Management has outlined plans to launch new panels by August 2026, targeting a 20% market share by 2027. The product portfolio includes high-voltage solutions such as 11 kV and 33 kV metering cubicles, Ring Main Units (RMU), and various busduct systems designed for efficiency in power distribution. Indo SMC is also focusing on high-growth sectors including defence, automotive, and medical devices to diversify its revenue streams further.

Balance Sheet and Stock Data

As of March 31, 2026, the company’s Share Capital was recorded at ₹2,285.54 lakh, while Reserves & Surplus grew to ₹13,125.95 lakh. The company’s net worth has strengthened significantly, supported by operational profitability. On the stock market, Indo SMC’s share price was recorded at ₹353.25, with a 52-week high-low range of ₹353.25 – ₹134.00. The market capitalization stood at ₹807.37 crore, reflecting investor confidence in the company’s growth trajectory.

Indo SMC Limited has scheduled an Extra-Ordinary General Meeting (EGM) on July 6, 2026, to seek shareholder approval for the appointment of an Independent Director and Secretarial Auditors. The meeting will be conducted via Video Conference (VC) and Other Audio-Visual Means (OAVM) at 2:30 P.M. IST. The company aims to ratify the appointment of Mr. Arpankumar Patel, who was appointed as an Additional Director on April 7, 2026, and appoint M/s. Sunil Mulchandani & Associates as Secretarial Auditors for a five-year term.

The special business includes the appointment of Mr. Arpankumar Patel (DIN: 08792951) as an Independent Director for a consecutive period of five years, effective up to April 6, 2031. The Board of Directors, upon the recommendation of the Nomination and Remuneration Committee, has proposed his appointment. Mr. Patel holds an MBA in International Marketing & Finance and a Bachelor of Pharmacy, bringing experience in corporate governance, risk management, and strategic business planning.

Shareholders will also vote on the appointment of M/s. Sunil Mulchandani & Associates, Practicing Company Secretaries, as Secretarial Auditors for a term of five financial years from April 1, 2025, to March 31, 2030. The Audit Committee recommended this appointment at its meeting on May 19, 2026. The firm is a peer-reviewed proprietorship with over 11 years of experience in listed company compliances and secretarial audits.

The company has established a remote e-voting period to facilitate shareholder participation. Members eligible to vote are those whose names appear in the Register of Members as on the cut-off date of June 29, 2026. The remote e-voting facility will be available from July 3, 2026, at 09:00 A.M. IST to July 5, 2026, at 05:00 P.M. IST. The e-voting module will be disabled by NSDL after this period.

Key EGM and Voting Details

M/s. Sunil Mulchandani & Associates has been appointed as the Scrutinizer to oversee the e-voting process. The facility to appoint a proxy is not available for this EGM, which is being held entirely through VC/OAVM. The results of the voting will be announced on the company's website and communicated to the Stock Exchange within two working days of the meeting's conclusion.