KD Green Industries Limited (formerly Manbro Industries) reported a significant improvement in profitability for the first quarter of FY27, with consolidated net profit rising 81% year-on-year to ₹367.2 lakh. This compares to a net profit of ₹200.8 lakh in Q1FY26. Revenue from operations expanded by 49% to ₹341.8 lakh, driven primarily by growth in the Structured Steel segment.

The company’s Board of Directors, meeting on August 12, 2026, approved the unaudited standalone and consolidated financial results. Additionally, the Board authorized a further investment of up to ₹15 crore in its subsidiary, K D Infrastructures Private Limited (KDIPL), through subscription to further capital issues. The investment aims to fund business expansion, capital expenditure, operational requirements, repayment of existing loans, and meet other general corporate purposes.

Financial Performance

Consolidated revenue from operations stood at ₹341.8 lakh in Q1FY27, compared to ₹228.3 lakh in the same quarter last year. Other income contributed ₹48.5 lakh, bringing total income to ₹346.7 lakh. Total expenses were ₹292.9 lakh, including cost of material consumed at ₹246.7 lakh.

Profit before tax increased to ₹538.2 lakh from ₹332.3 lakh in Q1FY26. After accounting for current tax of ₹175.7 lakh and deferred tax benefits, profit after tax reached ₹364.3 lakh. Including share of profit from associates, total comprehensive income attributable to owners was ₹176.3 lakh.

Segment Breakdown

The Structured Steel segment contributed ₹232.2 lakh to revenue, while Construction Material added ₹109.7 lakh. Structured Steel generated a segment result of ₹442.2 lakh, significantly higher than the Construction Material segment’s ₹114.8 lakh result.

What the Numbers Show

The divergence between standalone and consolidated results highlights the group structure. Standalone revenue was negligible at zero for the quarter, with total income of just ₹6.7 lakh driven entirely by other income. In contrast, consolidated operations generated ₹341.8 lakh in revenue. This indicates that the parent entity operates primarily as a holding company, with all material business activity occurring within subsidiaries like K D Infrastructures Private Limited and Shivam Pipe Industries.

Capital Raise Utilization

In May 2026, the company issued 43.5 million equity shares against convertible warrants, raising ₹282.8 lakh. As of June 30, 2026, only ₹70.7 lakh had been utilized for business expansion and working capital. The unutilized amount of ₹212.1 lakh is held in an HSBC Overnight Fund. Paid-up equity capital stands at ₹101.5 lakh, up from ₹58.0 lakh in the previous quarter.

Investment in Subsidiary

K D Infrastructures Private Limited, incorporated in August 2024, manufactures galvanized and metallic products including pipes, poles, high masts, crash barriers, gratings, electro gratings and cable trays made from HR Coils, mild steel, stainless steel and other materials. KD Green currently holds 99.84% of KDIPL. The proposed ₹15 crore investment will be made in one or more tranches during FY27. No regulatory approvals are required for this transaction. KDIPL has reported nil turnover for the last three years.

Shivam Pipe Industries, a 51% subsidiary of manbro industries , has secured an order worth ₹7.55 crore from Bharat Sanchar Nigam Limited (BSNL) for the supply of Galvanized Steel Tubular Poles. The order was received under the Bharat Net Phase-III NER-1 Package (Amended Bharat Net Program). This development is significant as it expands the subsidiary's footprint in the infrastructure sector, specifically supporting telecommunications connectivity in the North Eastern region.

The order was awarded through a contractor executing the project for BSNL. Shivam Pipes is already a registered vendor with multiple electricity utilities across North Eastern states and with BSNL under the same Bharat Net Phase-III program. The company supplies its Galvanized Steel Tubular Poles under the brand name Xtech.

Order Details

The financial and operational details of the order are outlined below:

KD Green Industries Limited, formerly known as Manbro Industries Limited, disclosed this information to the stock exchanges on July 23, 2026. The filing was signed by Dilip Kumar Goenka, Managing Director of the company.