Mardia Samyoung Posts ₹222.60 Lakhs Net Profit in FY26, Files Newspaper Publication
Mardia Samyoung Capillary Tubes Company Limited reported a net profit of ₹222.60 lakhs for the year ended March 31, 2026, on total income of ₹7387.12 lakhs, compared to total income of ₹276.32 lakhs in the prior year. The Board approved the results on May 12, 2026, and the company subsequently filed a newspaper publication of its audited financial results with BSE Limited on May 14, 2026, under Regulation 47 of the SEBI (LODR) Regulations, 2015. Auditors S K Bhavsar & Co. issued an unmodified opinion but flagged the absence of trade receivable/payable confirmations and non-appointment of an internal auditor as matters of emphasis.
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Mardia Samyoung Capillary Tubes Company Limited has reported its audited financial results for the financial year ended March 31, 2026, with the Board of Directors approving the financial statements during a meeting held on May 12, 2026. The company posted a net profit of ₹222.60 lakhs for the full year, marking a return to profitability compared to the prior year. Subsequently, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted a newspaper publication of its audited financial results to BSE Limited on May 14, 2026. The submission was signed by Managing Director Dhaval Dharmendrabhai Joshi (DIN: 10778731).
Financial Performance
For the year ended March 31, 2026, the company recorded a total income of ₹7387.12 lakhs, a substantial increase compared to the previous year's total income of ₹276.32 lakhs. Revenue from operations for the current financial year stood at ₹7387.12 lakhs, while other income was nil. In the previous year, revenue from operations was zero, with total income derived solely from other income of ₹276.32 lakhs.
The company's total expenses amounted to ₹7038.45 lakhs for the year, up from ₹156.37 lakhs in the previous year. The profit before tax for the period was ₹348.67 lakhs. After accounting for tax expenses of ₹126.07 lakhs, the company achieved a net profit of ₹222.60 lakhs for the year ended March 31, 2026. The table below summarises the key annual financial metrics:
| Particulars: | FY26 (₹ in Lakhs) | FY25 (₹ in Lakhs) |
|---|---|---|
| Revenue from Operations: | 7387.12 | 0.00 |
| Total Income: | 7387.12 | 276.32 |
| Total Expenses: | 7038.45 | 156.37 |
| Profit Before Tax: | 348.67 | 119.95 |
| Net Profit: | 222.60 | 119.95 |
| Basic EPS (₹): | 0.33 | 1.72 |
Quarterly Results
In the quarter ended March 31, 2026, the company reported a net profit of ₹114.72 lakhs on revenue from operations of ₹6111.74 lakhs. This compares to a net loss of ₹5.39 lakhs in the corresponding quarter of the previous year, where revenue from operations was nil. For the quarter ended December 31, 2025, the company had reported a net profit of ₹129.06 lakhs.
Key Financial Metrics
The basic earnings per share (EPS) for the year ended March 31, 2026, was reported at ₹0.33, compared to ₹1.72 in the previous year. The paid-up equity share capital as of March 31, 2026, stood at ₹6774.64 lakhs, a significant increase from ₹696.14 lakhs in the previous year. This increase was primarily due to the conversion of warrants into equity shares during the period.
Regulatory Compliance
In compliance with Regulation 47 of the SEBI (LODR) Regulations, 2015, the company submitted a copy of the newspaper publication of its audited financial results for the period ended March 31, 2026, to BSE Limited on May 14, 2026. The detailed format of the financial results was also filed with the stock exchange under Regulation 33 of the SEBI (LODR) Regulations, 2015, and is available on the BSE website ( www.bseindia.com ) as well as the company's website ( https://mardiasygltd.com/stock-exchange-compliances/ ).
| Parameter: | Details |
|---|---|
| CIN: | L20132MH1992PLC069104 |
| Registered Office: | A-108, 1st Floor, Chikwadi, Western Express Highway, Andheri East, Mumbai - 400099 |
| Corporate Office: | Shop-511 Pratik Mall, Near City Pulse Theatre, Kudasan, Gandhi Nagar, Gandhinagar, Gujarat - 382421 |
| Regulation 47 Submission Date: | May 14, 2026 |
| Managing Director: | Dhaval Dharmendrabhai Joshi (DIN: 10778731) |
Auditor's Report
The statutory auditors, S K Bhavsar & Co., issued an unmodified opinion on the audited standalone financial results. However, the report included an emphasis of matter regarding the absence of balance confirmation letters and reconciliation statements for certain trade receivables and payables. Additionally, the auditors noted that the company had not appointed an internal auditor for the entire financial year 2025-26, constituting a non-compliance with the Companies Act, 2013.
Will Mardia Samyoung Capillary Tubes appoint an internal auditor for FY2026-27 to address the Companies Act non-compliance flagged by auditors, and what corrective measures are planned for trade receivable reconciliation gaps?
Given the massive equity dilution from warrant conversions that drove paid-up capital from ₹696 lakhs to ₹6,774 lakhs, how might this impact future EPS growth and shareholder value if revenue momentum slows?
With revenue from operations surging from zero to ₹7,387 lakhs in a single year, what is the sustainability of this growth trajectory and which product segments or customer contracts are driving this demand?
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