MAKS Energy FY26 profit rises, auditors flag receivables

2 min read     Updated on 28 May 2026, 11:56 AM
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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, 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 Day5 Days1 Month6 Months1 Year5 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?

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MAKS Energy Solutions India Limited Submits SDD Compliance Certificate for Financial Year Ended March 31, 2026

1 min read     Updated on 15 May 2026, 11:23 AM
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MAKS Energy Solutions India Limited submitted its SDD Compliance Certificate for the financial year ended March 31, 2026, to the NSE on May 14, 2026. The certificate, issued by Practising Company Secretary CS Riteek Baheti of Riteek Baheti & Associates, Pune, confirms full compliance under Regulation 3(5) and 3(6) of the SEBI (Prohibition of Insider Trading) Regulations, 2015. All 2 required UPSI events were captured in the Structured Digital Database, with no non-compliance observed during the reporting period.

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MAKS Energy Solutions India Limited has filed its Structured Digital Database (SDD) Compliance Certificate for the financial year ended March 31, 2026, with the Listing Department of the National Stock Exchange of India Limited. The submission was made on May 14, 2026, by Mr. Vishal Nandu Nadhe, Company Secretary and Compliance Officer, pursuant to the provisions of Regulation 3(5) and 3(6) of the Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015 (PIT Regulations).

SDD Compliance Certificate Details

The compliance certificate was issued by CS Riteek Baheti, Proprietor of Riteek Baheti & Associates, a Practising Company Secretary appointed by the company. The certificate covers the financial year ended March 31, 2026, and confirms that the company's Structured Digital Database meets the requirements stipulated under the SEBI PIT Regulations. Key compliance parameters certified are outlined below:

Parameter: Status
SDD in Place: Yes
Access Controls on SDD: Yes
UPSI Captured in Database: Yes
Nature, Date & Time of UPSI Recorded: Yes
Audit Trail Maintained: Yes
Database Non-Tamperable & Records Retained for 8 Years: Yes
Non-Compliance Observed: Not Applicable — No Non-Compliance Observed

UPSI Events Captured During FY26

The Practising Company Secretary confirmed that the company was required to capture 2 events pertaining to Unpublished Price Sensitive Information (UPSI) during the financial year ended March 31, 2026, and has duly captured all 2 of the said required events in its Structured Digital Database.

Certifying Authority

The compliance certificate was issued by the following authority:

Detail: Information
Certifying Authority: CS Riteek Baheti
Firm Name: Riteek Baheti & Associates
Membership Number: 48468
Certificate of Practice Number: 17766
Peer Review Certificate: 2677/2022
UDIN: A048468H000357645
Date of Certificate: May 14, 2026
Place: Pune

The submission reaffirms the company's adherence to regulatory obligations under the SEBI PIT Regulations framework, with the compliance officer requesting the exchange to take the certificate on record.

Historical Stock Returns for Maks Energy Solutions

1 Day5 Days1 Month6 Months1 Year5 Years
0.0%0.0%0.0%-20.73%-18.75%+18.72%

What were the 2 UPSI events captured by MAKS Energy Solutions during FY26, and how might they signal future strategic moves such as mergers, acquisitions, or major contracts?

How does MAKS Energy Solutions' consistent SDD compliance track record compare to its peers in the energy sector, and could stronger governance practices attract institutional investor interest?

As SEBI continues to tighten insider trading regulations, what additional compliance burdens might smaller listed energy companies like MAKS face in FY27 and beyond?

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1 Year Returns:-18.75%