iWare Supplychain Services Limited announced its audited financial results for the financial year ended March 31, 2026, at a Board of Directors meeting held on May 12, 2026. The results were approved pursuant to Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Statutory Auditors M/s JAYAM and Associates LLP, Chartered Accountants (Firm Registration No. 130968W), issued an unmodified audit report on the financial results for the financial year ended March 31, 2026.

Financial Performance: Revenue and Profitability

The company delivered a strong financial performance in FY26, with revenue from operations more than tripling compared to the prior year. The following table presents the key financial metrics for the full year:

For the half year ended March 31, 2026, revenue from operations stood at ₹16,422.52 lakhs and net profit was ₹863.19 lakhs. Employee benefit expenses for the full year were ₹1,338.57 lakhs, finance costs were ₹442.94 lakhs, and depreciation and amortisation expenses were ₹542.20 lakhs.

Balance Sheet Highlights

The company's total assets expanded significantly to ₹16,009.34 lakhs as of March 31, 2026, compared to ₹5,695.89 lakhs as of March 31, 2025. Key balance sheet items are summarised below:

Cash Flow Summary

For the year ended March 31, 2026, net cash used in operating activities was ₹(1,979.92) lakhs, compared to net cash generated of ₹596.85 lakhs in FY25. Net cash used in investing activities was ₹(4,463.83) lakhs, primarily driven by purchase of property, plant and equipment amounting to ₹(3,715.55) lakhs. Net cash generated from financing activities was ₹6,349.82 lakhs, supported by proceeds from issue of share capital of ₹2,713.20 lakhs, proceeds from long-term borrowings of ₹1,868.05 lakhs, and proceeds from short-term borrowings of ₹2,175.54 lakhs. The closing balance of cash and cash equivalents as per the cash flow statement stood at ₹320.35 lakhs as of March 31, 2026.

Dividend Recommendation

The Board of Directors considered and recommended a final dividend at 10% of fully paid-up capital, amounting to ₹1/- (Rupee One only) per fully paid-up equity share of ₹10/- each for the financial year ended March 31, 2026. The dividend is subject to approval of shareholders at the ensuing Annual General Meeting. If approved, the dividend shall be paid within 30 days from the date of declaration, in accordance with the applicable provisions of the Companies Act, 2013.

Board and Governance Updates

The Board approved several governance-related matters at the meeting. The re-appointment of M/s. Nikhil Mishra and Associates, Chartered Accountants (Firm Registration No. 156107W), as Internal Auditors of the Company for the Financial Year 2026-27 was approved. Additionally, the Board approved the induction of Mr. Vikas Krishnakumar Tanwar, Joint Managing Director, as an additional member of the Management Committee of the Board of Directors with immediate effect. The revised composition of the Management Committee is as follows:

The terms of reference and powers of the Management Committee remain unchanged. The Board also noted and took on record the Statement of Deviation for the year ended March 31, 2026, issued by M/s. JAYAM & Associates LLP, Chartered Accountants.

iware supplychain services has filed its Statement of Deviation(s) or Variation(s) under Regulation 32 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as on 31st March, 2026. The statement was submitted to the National Stock Exchange of India and reviewed by the company's Audit Committee and Board of Directors at their meeting held on 12th May, 2026. The disclosure pertains to the utilisation of proceeds raised through the company's Initial Public Offering (IPO), as outlined in the Offer Document dated 24th April, 2025.

IPO Proceeds Utilisation Overview

The statement, certified by M/s. JAYAM & Associates LLP (FRN No. 130968W), Chartered Accountants, provides a detailed account of how IPO funds have been deployed across four stated objectives as at 31st March, 2026. While most objectives have been fully utilised, the capital expenditure allocation for the construction of a new industrial shed remains partially pending. The table below presents the utilisation status across all objectives (Rs in Lacs):

Industrial Shed Construction Faces Execution Delays

The only objective with a pending utilisation is the setting-up of an industrial shed at Chadvada Bhachau, Kutch, Gujarat. Against an original allocation of Rs 1,406.43 lacs, the company has utilised Rs 1,057.32 lacs, leaving Rs 349.11 lacs pending as of 31st March, 2026. The company attributed the shortfall to unforeseen labour shortages and execution-related challenges encountered during February and March 2026, which prevented the project from being completed within the stipulated timeline.

Auditor's Certification and Compliance

The statement has been independently certified by CA Rachit Shah (M. No. 157588), Designated Partner at JAYAM & Associates LLP, Chartered Accountants, Vadodara, dated 12th May, 2026. The auditor's opinion, based on verification of books of account, bank statements, mutual fund statements, vendor invoices, utilisation schedules, and written management representations, confirms that the Statement of Utilisation of IPO Proceeds is true and correct, and that the company has, in all material respects, utilised the IPO proceeds in accordance with the objectives stated in the Offer Document. The certificate was issued solely for submission to NSE EMERGE.

The filing was signed by Krishnakumar Jagadishprasad Tanwar, Managing Director (DIN: 0349482), on behalf of iware supplychain services, in compliance with Regulation 32(1)(a) and (b) of the SEBI (LODR) Regulations, 2015.