Maral Overseas Limited has announced its audited financial results for the quarter and year ended 31st March 2026, reporting a return to profitability. The Board of Directors, at their meeting held on 7th May 2026, approved the results alongside a strategic stake acquisition in a solar energy special purpose vehicle (SPV), appointment of internal and cost auditors for FY27, and key regulatory notices for shareholders. The company also submitted copies of newspaper publications made in Business Standard and Navbharat on 8th May 2026 regarding these results.

Financial Performance: A Return to Profitability

Maral Overseas recorded a net profit of ₹326.14 lakh for the year ended 31st March 2026, a significant reversal from the net loss of ₹2,419.77 lakh reported in the previous fiscal year. For the quarter ended 31st March 2026, net profit stood at ₹1,331.09 lakh, compared to a net loss of ₹22.80 lakh in the corresponding quarter of the previous year. The statutory auditors, M/s. S S Kothari Mehta & Co. LLP, issued an unqualified (unmodified) audit report on these results. An exceptional item of ₹59.83 lakh was recognised during the year, representing the estimated incremental impact of the New Labour Codes effective 21st November 2025, which consolidated 29 existing labour regulations into 4 codes and resulted in increased provisions for employee benefits due to recognition of past service costs.

The following table summarises the key financial metrics (₹ in lakh):

Segment-wise Performance

Across its three business segments, the Yarn division remained the largest contributor to revenue. The following table presents segment-wise revenue and results for the quarter and year ended 31st March 2026 (₹ in lakh):

The Yarn and Fabric segments both posted improved profitability on a full-year basis, while the Garment segment continued to report a loss, though significantly narrowed from ₹1,887.09 lakh in FY25 to ₹1,015.74 lakh in FY26.

Balance Sheet & Cash Flow Highlights

As at 31st March 2026, total assets stood at ₹69,031.93 lakh, compared to ₹73,212.83 lakh in the previous year. Total equity increased to ₹11,073.58 lakh from ₹10,889.06 lakh. Non-current borrowings declined to ₹10,249.70 lakh from ₹14,688.57 lakh, while the company also issued Non-Convertible Redeemable Preference Shares of ₹3,000.00 lakh during the year. Current borrowings reduced to ₹23,882.91 lakh from ₹26,864.32 lakh.

The following table summarises the cash flow position (₹ in lakh):

Solar Energy Stake Acquisition

The board approved the acquisition of a 26% equity stake in Asawata Energy Private Limited, an SPV and subsidiary of Pickrenew Energy Limited, for a cash consideration of ₹2.60 lakh. Asawata Energy Private Limited was incorporated on 20th April 2026 with a total equity share capital of ₹10 lakh and nil turnover. The objective is to optimise power costs and increase renewable energy usage. The SPV will develop a 15 MW solar power plant at the company's Sarovar Plant under the Group Captive model of the Madhya Pradesh Electricity Regulatory Commission (Verification of Captive Generating Plants and Captive Users) Regulations, 2023. The remaining 74% stake will be held by Pickrenew Energy Limited. A long-term Power Purchase Agreement (PPA) is to be executed, and the transaction is expected to be completed within 3 months, subject to execution of definitive agreements and regulatory compliances.

Auditor Appointments for FY27

The board also approved the appointment of internal and cost auditors for the financial year 2026-27. M/s. BGJC & Associates LLP has been appointed as Internal Auditor for the Sarovar Division, while M/s. Agarwal & Saxena, LLP has been appointed for the Garment Division. Both firms were appointed effective 7th May 2026. M/s. BGJC & Associates LLP, founded in 1982 and headquartered in New Delhi, is a peer-reviewed multi-disciplinary Chartered Accountancy firm empanelled with the Comptroller & Auditor General of India and the Reserve Bank of India. M/s. Agarwal & Saxena, LLP (AGASAX), founded in 1984 and also headquartered in New Delhi, serves large corporates and public sector enterprises and is steered by 11 partners. Additionally, M/s. K. G. Goyal & Co., Cost Accountants, was appointed as Cost Auditor for FY27. The firm has been engaged in cost audit practice for 37 years since its constitution on 8th July 1988 and has experience across sectors including textiles, cement, power generation, and petroleum.

Shareholder Notices

Pursuant to a SEBI circular dated 30th January 2026, the company has opened a Special Window from 5th February 2026 to 4th February 2027, facilitating the transfer and dematerialisation of physical securities sold or purchased prior to 1st April 2019. Additionally, the company is urging shareholders to update their KYC details, bank mandates, nominee information, and contact details to enable claims on unpaid or unclaimed dividends and to prevent the transfer of shares and dividends to the Investor Education and Protection Fund (IEPF). For queries, shareholders may contact the company's Registrar and Share Transfer Agent at 179-180, DSIDC Shed, 3rd Floor, Okhla Industrial Area, Phase - 1, New Delhi-110020 or via email at helpdeskdelhi@mcmsregistrars.com .

Maral Overseas Limited's Board of Directors, at their meeting held on May 7, 2026, approved the audited financial results for the quarter and full financial year ended March 31, 2026. The company returned to profitability in FY26, reporting a net profit of ₹326.14 lakh from continuing operations, compared to a net loss of ₹2,419.77 lakh in the previous year. The board meeting commenced at 1:30 P.M. and concluded at 4:00 P.M., with the results reviewed and recommended by the Audit Committee and audited by statutory auditors M/s. S S Kothari Mehta & Co. LLP, who issued an unqualified audit report.

Financial Performance: Quarterly and Annual Results

The company's revenue from operations for FY26 stood at ₹98,086.61 lakh, compared to ₹1,04,703.43 lakh in FY25. Total income for the year was ₹1,00,424.12 lakh against ₹1,06,960.29 lakh in the prior year. For the quarter ended March 31, 2026, revenue from operations was ₹25,822.24 lakh, compared to ₹27,470.01 lakh in the corresponding quarter of the previous year. The following table summarises the key financial metrics (₹ in lakh):

Total expenses for FY26 declined to ₹1,00,263.68 lakh from ₹1,09,523.50 lakh in FY25, reflecting cost efficiencies across material consumption, employee benefits, and other expenses. An exceptional item of ₹59.83 lakh was recognised in Q3 FY26 and for the full year, arising from incremental employee benefit provisions under the New Labour Codes consolidated by the Government of India effective November 21, 2025.

Segment-Wise Performance

The company operates across three business segments — Yarn, Fabric, and Garment. The Yarn segment remained the largest contributor to revenue, while the Garment segment continued to report losses, albeit significantly narrowed compared to the prior year. The segment-wise results are presented below (₹ in lakh):

The Yarn segment's profitability improved markedly, with segment results rising to ₹3,337.51 lakh in FY26 from ₹1,977.06 lakh in FY25. The Fabric segment also posted higher results at ₹1,865.11 lakh versus ₹1,369.39 lakh. The Garment segment's losses narrowed to ₹1,015.74 lakh from ₹1,887.09 lakh. Total capital employed stood at ₹11,073.58 lakh as at March 31, 2026, compared to ₹10,888.97 lakh a year earlier.

Balance Sheet and Cash Flow Highlights

As at March 31, 2026, total assets stood at ₹69,031.93 lakh compared to ₹73,212.83 lakh a year earlier. Total equity improved to ₹11,073.58 lakh from ₹10,889.06 lakh, supported by other equity (reserves) of ₹6,922.78 lakh. Paid-up equity share capital remained unchanged at ₹4,150.80 lakh. Key balance sheet metrics are summarised below (₹ in lakh):

On the cash flow front, net cash generated from operating activities for FY26 was ₹8,958.22 lakh, up from ₹7,587.02 lakh in FY25. Net cash used in investing activities was ₹690.70 lakh, significantly lower than ₹2,831.56 lakh in the prior year. Net cash used in financing activities was ₹8,185.95 lakh versus ₹4,792.27 lakh in FY25, reflecting repayment of term loans and working capital facilities. Closing cash and cash equivalents stood at ₹103.13 lakh compared to ₹21.56 lakh at the start of the year.

Strategic Decisions: Solar Stake Acquisition and Auditor Appointments

Beyond the financial results, the board approved several key strategic and governance decisions. The board approved the acquisition of a 26% equity stake in Asawata Energy Private Limited, a Special Purpose Vehicle (SPV) and subsidiary of Pickrenew Energy Limited, for a cash consideration of ₹2.60 lakh. The SPV, incorporated on April 20, 2026, will develop and operate a 15 MW solar power project at the company's Sarovar Plant under the Group Captive model of the Madhya Pradesh Electricity Regulatory Commission (Verification of Captive Generating Plants and Captive Users) Regulations, 2023. The remaining 74% stake will be held by Pickrenew Energy Limited. A long-term Power Purchase Agreement (PPA) will be executed for procurement of solar power. The acquisition is expected to be completed within 3 months, subject to execution of definitive agreements and regulatory compliances. Key details of the acquisition are as follows:

The board also approved the appointment of M/s. BGJC & Associates LLP as Internal Auditor for the Sarovar Division and M/s. Agarwal & Saxena, LLP as Internal Auditor for the Garment Division, both for FY26-27. Additionally, M/s. K. G. Goyal & Co., Cost Accountants, was appointed as Cost Auditor for FY26-27. The statutory auditor, M/s. S S Kothari Mehta & Co. LLP, confirmed an unmodified audit opinion on the financial results, as declared by Chief Financial Officer Manoj Gupta under Regulation 33(3)(d) of SEBI Listing Regulations. The official communication was signed by Company Secretary & Compliance Officer Sandeep Singh (M.No. FCS-9877) and submitted to both BSE Limited and the National Stock Exchange of India Limited.