Krishanveer Forge Limited reported a net profit of ₹1.99 crore for the quarter ended June 30, 2026 (Q1FY27), marking a 3.6% decline from ₹2.07 crore in the corresponding period of the previous year. Revenue from operations fell 6.4% year-on-year to ₹22.13 crore, reflecting softer demand or pricing pressures in its forging segment. The company’s total comprehensive income stood at ₹2.04 crore, while earnings per share (EPS) decreased to ₹1.825 from ₹1.893 in the prior year quarter.

The Board of Directors approved the unaudited financial results on August 5, 2026, following a limited review by statutory auditors Gokhale, Tanksale & Ghatpande. The results comply with Regulation 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and are prepared in accordance with Ind AS 34. The Audit Committee reviewed the figures before their final approval by the Board.

Financial Performance Breakdown

Revenue from operations declined to ₹22.13 crore in Q1FY27 from ₹23.64 crore in Q1FY26. However, other income rose to ₹45.77 lakh from ₹32.72 lakh, partially offsetting the operational dip. Total income decreased marginally to ₹22.59 crore from ₹23.97 crore.

Profit before tax increased 6.0% to ₹27.56 lakh, aided by lower tax expenses due to deferred tax benefits. Current tax was ₹78.15 lakh against ₹62.41 lakh in the previous year, but deferred tax credits of ₹2.07 lakh helped reduce the effective tax burden.

What the Numbers Show

While revenue contracted, the company managed to improve pre-tax profitability through cost efficiencies. Total expenses fell 7.2% to ₹19.83 lakh, primarily driven by a significant reduction in inventory changes (₹33.92 lakh credit vs. ₹5.74 lakh credit previously) and lower cost of materials consumed. However, gas consumption costs rose 12.8% to ₹48.75 lakh, indicating potential input cost pressures that may impact future margins if not passed on to customers.

Corporate Actions and Governance

The Board fixed September 11, 2026, as the record date for determining entitlement to the FY26 dividend, subject to shareholder approval at the upcoming Annual General Meeting (AGM). The register of members will remain closed from September 12 to September 18, 2026.

The 36th AGM is scheduled for September 18, 2026, via Video Conferencing or Other Audio-Visual Means (OAVM). Remote e-voting will be open from September 15 to September 17, 2026. M/s. Satish & Satish has been appointed as the scrutinizer for the e-voting process under Regulation 44 of SEBI LODR Regulations, 2015.

New Independent Directors

Based on the Nomination and Remuneration Committee’s recommendation, the Board proposed the appointment of Mr. Ravi Kapoor and Ms. Vijeta Subhash Kulkarni as Independent Directors for a five-year term starting December 1, 2026. Both candidates have no relationship with existing directors and are not debarred by SEBI or any other authority.

Krishanveer Forge Limited has received Permission to Commission (PTC) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for its 1MWp Solar Power Plant located at Karandewadi in Solapur, Maharashtra. The approval granted on July 02, 2026, is a key regulatory requirement enabling the evacuation of solar power from the facility. Commercial operations will commence following successful testing and inspection by a designated engineer from MSEDCL and the completion of other applicable formalities.

The solar facility, situated at Karandewadi and connected to the Mahim, Solapur substation in Taluka Sangole, has been fully installed and is ready for operations. The project utilizes a single-axis tracker system for the 1.0 MWp (DC) capacity plant. The commissioning of this facility represents a significant step in the company's commitment towards sustainability and the adoption of renewable energy sources.

Regulatory Approval Details

The Permission to Commission is valid for a period of 30 days starting from July 02, 2026. During this window, the company must complete the commissioning process, including the necessary testing and inspection by MSEDCL officials. Once these procedural requirements are met, the commercial evacuation of solar power generated from the plant will begin.

The company informed the stock exchanges regarding this development pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The new solar power plant is expected to contribute to Krishanveer Forge Limited's internal energy requirements and support its long-term environmental objectives.