Mahalaxmi Rubtech reported a net profit of ₹5.77 crore for the first quarter ended June 30, 2026, representing a 29.9% increase from ₹4.44 crore in the same period last year. The growth was driven by a 25.9% year-on-year rise in revenue from operations, which stood at ₹31.54 crore compared to ₹25.05 crore in Q1FY26. This performance signals sustained demand for the company’s offset printing blankets and technical coated fabrics, with margins expanding as costs remained controlled relative to top-line growth.

The Board of Directors approved the unaudited financial results on August 11, 2026, following a meeting held at the company’s registered office in Ahmedabad. The results were reviewed in accordance with Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Jain Chowdhary & Co., the statutory auditor of the company, issued a limited review report on the financial statements, confirming compliance with Indian Accounting Standards (Ind AS) 34.

Financial Performance Highlights

Revenue from operations increased by ₹6.48 crore, while other income more than doubled to ₹1.43 crore from ₹63.35 lakh in the prior year quarter. Total expenditure rose to ₹25.31 crore from ₹19.46 crore, primarily due to higher cost of material consumed, which increased to ₹17.29 crore from ₹13.37 lakh. However, finance costs decreased significantly to ₹8.76 lakh from ₹19.74 lakh, contributing to the bottom-line improvement.

What the Numbers Show

The divergence between revenue growth (25.9%) and expenditure growth (30.1%) indicates that input costs are rising faster than sales prices. Cost of material consumed accounted for the largest share of expenses, increasing by 29.4% year-on-year. Despite this pressure, the company managed to expand its profit before tax by 23.0%, aided by a sharp decline in finance costs and a substantial jump in other income. This suggests that non-operating gains played a significant role in boosting profitability during the quarter, even as operational margins faced headwinds from higher raw material costs.

Mahalaxmi Rubtech Limited has appointed M/s. Rohit Periwal & Associates as its secretarial auditor for a term of three consecutive financial years, covering FY2026-27 through FY2028-29. The Board of Directors approved the appointment on July 28, 2026, following a recommendation from the Audit Committee. This move ensures continuity in compliance oversight and corporate governance monitoring for the listed entity. The appointment is subject to ratification by shareholders at the company’s ensuing Annual General Meeting.

The decision was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Karan Parikh, Company Secretary of Mahalaxmi Rubtech Limited (ICSI Membership No.: A77833), signed the disclosure submitted to both the BSE Limited and the National Stock Exchange of India Limited on July 28, 2026. The filing includes Annexure-A detailing the auditor’s profile and the rationale for the appointment.

Auditor Profile and Expertise

M/s. Rohit Periwal & Associates is a peer-reviewed firm led by CS Rohit Periwal (FCS: 12203, CP No.: 22021). The firm specializes in corporate law, secretarial compliances under the Companies Act, 2013, and SEBI Regulations. Key areas of expertise include:

The firm serves listed and unlisted companies, Limited Liability Partnerships (LLPs), and other business entities. It is recognized for professional competence, quality standards, and ethical practices in regulatory advisory.

Regulatory Compliance

The appointment aligns with Schedule III of the SEBI (LODR) Regulations, 2015, which mandates the disclosure of secretarial auditor appointments. The Board confirmed that there are no relationships between the directors and the appointed auditor that would compromise independence, as indicated by the “NA” disclosure in the relationship section of Annexure-A. The term begins from the financial year 2026-2027 and extends through 2028-2029, providing a stable framework for ongoing compliance reviews.

What This Means for Governance

The appointment of a specialized firm like M/s. Rohit Periwal & Associates signals Mahalaxmi Rubtech’s focus on maintaining robust corporate governance structures. With expertise in both the Companies Act, 2013, and SEBI Regulations, the auditor will oversee compliance with listing obligations, board procedures, and statutory filings. This three-year tenure allows for consistent monitoring of governance practices, reducing the risk of compliance gaps during transitions between auditors. Shareholders will have the final say on this appointment at the upcoming Annual General Meeting, ensuring democratic oversight of key governance roles.