Mr. Gurpal Singh has resigned as Whole Time Director of Innovision Limited effective June 3, 2026, due to other professional commitments and personal reasons. The resignation was tendered via a letter dated June 3, 2026, and took effect from the close of business hours on the same day. This disclosure was made in compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The company confirmed that there are no material reasons for the resignation other than those stated. The Board of Directors has been requested to note the resignation and relieve Mr. Singh of his duties and responsibilities. The necessary forms and disclosures will be filed with the relevant statutory and regulatory authorities.

Mr. Singh confirmed that his departure is not due to any disagreements with the company's management or board. He expressed gratitude to the Board, management, employees, and stakeholders for their support during his tenure and wished the company continued success.

The details of the resignation were submitted to BSE Limited and National Stock Exchange of India Limited. Innovision Limited's Company Secretary and Compliance Officer, Jyoti Sachdeva, signed the disclosure on June 3, 2026.

Innovision Limited reported a net profit of ₹36.35 crore for the financial year ended March 31, 2026, an increase of 24.63% from ₹29.17 crore in the previous year. Revenue from operations rose to ₹986.61 crore for FY26, up from ₹895.95 crore in FY25. The company’s board approved the standalone and consolidated financial results at a meeting held on May 28, 2026.

Financial Performance

For the quarter ended March 31, 2026, the company recorded a profit after tax of ₹11.87 crore. Total income for the quarter stood at ₹268.78 crore, while EBITDA was reported at ₹18.46 crore. The basic earnings per share for the year were ₹17.30, annualised, compared to ₹16.51 in the prior year.

Management Commentary

Lt. Col. Randeep Hundal, Chairman & Managing Director, Innovision Limited, attributed the growth to operational efficiencies and disciplined execution across core verticals. He highlighted that the Toll Plaza Management business remains a key growth driver with 12 active NHAI toll plazas. The company targets a long-term goal of 30+ toll plazas. The Manpower & IFM vertical deployed 15,000+ personnel across 23 states and 5 Union Territories. Additionally, the company expanded into Drone Manufacturing & Drone-as-a-Service (DAAS) through its subsidiary Aerodrone Robotics, strengthening its position as one of fewer than 50 DGCA-approved RPTOs in India. The management expressed confidence in achieving a 50-60% CAGR over the medium term.

Initial Public Offering

During FY26, Innovision completed its Initial Public Offering (IPO), which comprised a fresh issue of 49,13,294 equity shares and an offer for sale of 12,38,000 equity shares by selling shareholders. The issue price was fixed at ₹519 per equity share. The company incurred total issue-related expenses amounting to ₹826.67 million, of which ₹452.01 million was adjusted from IPO proceeds and the balance was funded through internal accruals.

Utilization of Proceeds

The net proceeds from the IPO were allocated towards specific objects. As of March 31, 2026, the company utilised ₹950.19 million, primarily for repayment of loans and payment of issue expenses. An unutilised amount of ₹1,599.81 million remained, with ₹1,449.99 million temporarily invested in fixed deposits and the balance maintained in monitoring and public accounts.

Board Changes and Disclosures

Subsequent to the quarter ended March 31, 2026, Ms. Sudha Hooda resigned as an Independent Director effective April 6, 2026. Mr. Aditya Jha was appointed as an Independent Director effective April 10, 2026, subject to shareholder approval. The company also disclosed that it received GST demand orders amounting to ₹209.98 million for FY 2019-20 and FY 2023-24, against which appeals have been filed.