Krowniq Limited (formerly Lykis Limited) reported a sharp recovery in profitability for the first quarter of FY26, with standalone net profit surging 513% year-on-year to ₹3.83 crore. The Mumbai-based exporter of FMCG and cosmetics products posted consolidated revenue from operations of ₹126.68 crore for the quarter ended June 30, 2026, marking an 89% increase compared to ₹67.15 crore in Q1FY25. This performance follows a change in control and management during the quarter, including the appointment of Jitendra Kumar Ranka as Managing Director on May 25, 2026.

The Board of Directors approved the unaudited financial results on August 11, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by statutory auditors J A S S & Co. LLP (formerly Singrodia & Co. LLP) in accordance with Standard on Review Engagements (SRE) 2410. The company also announced the incorporation of three new wholly owned subsidiaries—Parshav Infra Market Private Limited, Tidagela Industries Private Limited, and Exnora Trade Private Limited—in June 2026.

Financial Performance

Standalone revenue from operations rose 122% YoY to ₹99.39 crore, up from ₹44.82 crore in Q1FY25. Other income increased to ₹3.08 crore from ₹0.58 crore in the corresponding period last year. Total expenses stood at ₹97.26 crore, compared to ₹46.38 crore in Q1FY25. The profit before tax was ₹5.21 crore, against a loss of ₹0.98 crore in Q1FY25. After accounting for total tax expenses of ₹1.39 crore, the net profit for the period reached ₹3.83 crore.

On a consolidated basis, revenue from operations was ₹126.68 crore, compared to ₹67.15 crore in Q1FY25. Total income reached ₹129.65 crore. Expenses totaled ₹124.37 crore. The consolidated profit before tax was ₹5.28 crore, versus a loss of ₹0.46 crore in the previous year. Net profit attributable to owners of the company was ₹3.90 crore, resulting in a basic and diluted EPS of ₹2.01 per share, compared to a loss of ₹0.24 per share in Q1FY25.

Corporate Developments

The company officially changed its name from Lykis Limited to Krowniq Limited, effective July 30, 2026, following shareholder approval on July 15, 2026. A new Certificate of Incorporation was issued by the Registrar of Companies on that date. Additionally, the registered office address was shifted to Goregaon (East), Mumbai, effective June 15, 2026.

During the quarter, the company created a provision for doubtful debt and advances of ₹45.60 lakh in both standalone and consolidated results, included under other expenses. The consolidated results include five subsidiaries, with total assets of ₹36.75 crore and revenue of ₹27.35 crore for the quarter, as reviewed by other auditors.

Krowniq Limited , formerly known as Lykis Limited, has invested ₹100,000 in Tidagela Industries Private Limited, its wholly-owned subsidiary. The investment was executed on July 30, 2026, through an initial subscription to the share capital of the subsidiary. This transaction marks the completion of the acquisition process previously disclosed by the company.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In a submission to BSE Limited on July 31, 2026, the company confirmed that all particulars mentioned in earlier disclosures dated May 28, 2026, and June 22, 2026, remain unchanged. Jitendra Kumar Ranka, Managing Director of Krowniq Limited, signed the regulatory filing.

Investment Details

The financial specifics of the transaction are outlined below:

Regulatory Compliance

The company emphasized that any subsequent developments or information relating to Tidagela Industries Private Limited will be intimated to the stock exchanges from time to time, as and when required. This ensures continued transparency in line with listing obligations. The filing serves as a formal record of the capital injection into the subsidiary structure.

What the Numbers Show

The nominal investment amount of ₹100,000 indicates that Tidagela Industries Private Limited is likely a newly incorporated entity or a shell company being activated for specific operational or strategic purposes within the Krowniq group. Such small-ticket initial subscriptions are common in corporate structuring to establish legal ownership before larger operational funds are deployed. The consistency with prior disclosures suggests no change in the strategic intent behind the acquisition.