Jay Ushin Limited reported a net profit of ₹4.87 crore for the quarter ended June 30, 2026 (Q1FY27), up 6% from ₹4.58 crore in the corresponding period of FY26. The Gurgaon-based automotive components manufacturer saw its revenue from operations rise 29% year-on-year to ₹276.81 crore, reflecting stronger sales volumes in the domestic market.

The Board of Directors approved the unaudited financial results on August 13, 2026. The figures were reviewed by the Audit Committee and subjected to a limited review by statutory auditors NSBP & Co., who issued an unmodified report.

Financial Performance

Revenue from operations stood at ₹27,680.75 lakh for Q1FY27, compared to ₹21,413.29 lakh in Q1FY26. Total income, which includes other income of ₹429.71 lakh, reached ₹28,110.46 lakh.

Profit before tax increased 12% to ₹590.08 lakh. Tax expenses were recorded at ₹103.29 lakh, comprising current tax of ₹147.39 lakh and deferred tax asset of ₹44.10 lakh.

What the Numbers Show

While revenue grew significantly at nearly 30%, total expenses expanded at a similar pace of 29.5%. This parallel growth indicates that cost structures, particularly material costs and employee benefits, scaled directly with operational volume, limiting the expansion of operating margins despite the top-line surge. Other income contributed ₹429.71 lakh to total income, representing approximately 1.5% of the top line, a modest but consistent contributor compared to the prior year's ₹360.58 lakh.

Jay Ushin Limited has received a show cause notice dated July 24, 2026, from the Assistant Commissioner of Goods and Services Tax (GST), Sriperumbudur, Kancheepuram, Tamil Nadu, alleging tax dues of ₹1,21,68,632. The notice, issued under Section 73 of the Goods and Services Tax Act, 2017, pertains to alleged discrepancies in Input Tax Credit (ITC) reconciliation reflected in the company’s GST returns for FY 2023-24. The company disclosed the receipt on July 25, 2026, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The regulatory authority alleges unreconciled ITC and enabled ITC for the period FY 2023-24 due to variances in GST returns. The show cause notice demands ₹1,21,68,632 as GST liability, excluding applicable interest and penalty, which are equivalent to the alleged tax dues if any. This disclosure is made in compliance with Schedule III of the SEBI LODR Regulations and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Key Details of the Notice

Jay Ushin Limited maintains that the proposed GST demand is not justified based on facts and applicable law. The company stated that its GST returns were correctly filed and had earlier been audited by the CGST Department without any dispute on the issues now raised. Consequently, Jay Ushin does not expect any material impact on its financials, operations, or other activities. Any financial impact will be limited to the final liability determined upon completion of adjudication proceedings.

Company Response and Next Steps

The company is preparing an appropriate reply to be filed before the GST authorities within the prescribed timeline. Compliance Officer and Company Secretary Jyoti Kataria signed the disclosure, affirming that the information provided is true and correct to the best of the company’s knowledge. The matter remains subject to adjudication proceedings, with no penalties or restrictions imposed at this stage.