MAKS Energy FY26 profit rises, auditors flag receivables
MAKS Energy Solutions India Limited reported a net profit of ₹66.48 lakh for the financial year ended March 31, 2026, an increase from ₹55.16 lakh in the prior year, while revenue from operations declined to ₹5,407.78 lakh. The statutory auditor, B D S P & Associates, issued a qualified opinion due to trade receivables of ₹460.91 lakh and vendor advances of ₹82.43 lakh outstanding for prolonged periods without sufficient evidence of recoverability. The Board approved the audited financial results and appointed M/s. Rajeev Jain and Company as Internal Auditor for FY 2026–27 to FY 2030–31.

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MAKS Energy Solutions India Limited reported a net profit of ₹66.48 lakh for the financial year ended March 31, 2026, an increase from ₹55.16 lakh in the prior year. Revenue from operations declined to ₹5,407.78 lakh from ₹6,648.16 lakh in FY25. The Board of Directors approved the audited financial results for the year and half-year ended March 31, 2026, at a meeting held on May 27, 2026.
The company’s total income for FY26 stood at ₹5,433.61 lakh, down from ₹6,674.91 lakh in the previous year. Total expenses decreased to ₹5,327.89 lakh from ₹6,578.15 lakh. Profit before tax for the year was ₹89.85 lakh, compared to ₹73.74 lakh in FY25. Basic earnings per share for the year were recorded at ₹0.96, up from ₹0.80 in the previous year.
Audit Qualifications
B D S P & Associates, the statutory auditor, issued a qualified opinion on the financial results. The report highlighted trade receivables aggregating ₹460.91 lakh outstanding for approximately 2 to 3 years. The auditor noted the absence of sufficient evidence regarding recoverability and stated that the company is required to make appropriate provisions. Consequently, trade receivables, total assets, and shareholders' funds are considered overstated by this amount.
Additionally, the auditor flagged advances to vendors aggregating ₹82.43 lakh outstanding for 1 to 3 years. The report stated these parties are not regular suppliers and no significant transactions occurred during the year. The auditor recommended writing off or providing for these balances, noting that their inclusion overstates assets and profit.
Financial Performance
The following table outlines the key financial metrics for the year ended March 31, 2026:
| Particulars | Year Ended March 31, 2026 (₹ in Lakhs) | Year Ended March 31, 2025 (₹ in Lakhs) |
|---|---|---|
| Revenue from operations | 5,407.78 | 6,648.16 |
| Total Income | 5,433.61 | 6,674.91 |
| Total Expenses | 5,327.89 | 6,578.15 |
| Profit before tax | 89.85 | 73.74 |
| Net Profit | 66.48 | 55.16 |
| Basic EPS (₹) | 0.96 | 0.80 |
Segment Reporting
Segment-wise revenue for the year was driven by the Trading division at ₹3,396.86 lakh, while the Manufacturing/Assembling segment contributed ₹2,010.92 lakh. The Trading segment reported a profit before interest and tax of ₹161.26 lakh, whereas the Manufacturing/Assembling segment reported ₹83.09 lakh.
The Board also approved the appointment of M/s. Rajeev Jain and Company as the Internal Auditor for a term from FY 2026–27 to FY 2030–31.
Historical Stock Returns for Maks Energy Solutions
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| 0.0% | 0.0% | 0.0% | -20.73% | -18.75% | +18.72% |
What specific measures will management take to recover the long-standing trade receivables of ₹460.91 lakh or write them off?
How will the resolution of the audit qualifications regarding vendor advances impact the company's profitability and asset valuation in FY27?
Will the decline in revenue from operations continue, and what strategies are in place to drive growth in the Manufacturing/Assembling segment?


























