McNally Bharat Engineering Company Limited reported a consolidated net profit of ₹3,44,893.68 lakh for the financial year ended March 31, 2026, marking a significant turnaround from the net loss of ₹1,71,568.70 lakh recorded in the previous year. The company’s revenue from operations for the year stood at ₹7,351.06 lakh, while total income was ₹7,467.10 lakh. The financial performance was bolstered by exceptional income amounting to ₹3,89,143.73 lakh, primarily resulting from the implementation of the Resolution Plan approved by the National Company Law Tribunal (NCLT).

Financial Performance

The company’s standalone financial results for FY26 revealed a drastic improvement in profitability, largely attributed to accounting adjustments following the Corporate Insolvency Resolution Process (CIRP). The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, during a meeting held on May 28, 2026.

Key Financial Metrics (Standalone)

Resolution Plan Impact

The exceptional income recognized during the year stems from the implementation of the Resolution Plan approved by the Hon’ble NCLT, Kolkata, on December 19, 2023. Consequently, the company extinguished substantial financial and operational liabilities, with the difference between the carrying amount of liabilities extinguished and the consideration paid recognized as a gain. This included the extinguishment of financial creditors' liabilities amounting to ₹3,69,661.78 lakh and operational creditors' liabilities of ₹18,408.56 lakh. The resultant balances were credited to Capital Reserve and Retained Earnings, overriding the requirements of applicable Indian Accounting Standards (Ind AS) as per NCLT directions.

Management Changes

The Board noted the resignation of Mr. Rupayan Majumdar as Chief Financial Officer, effective May 30, 2026. Concurrently, the Board approved the appointment of Mr. Harish Avadhani as the new Chief Financial Officer and Key Managerial Personnel, effective June 1, 2026. Mr. Avadhani brings over 30 years of experience and previously served as President – Commercial & Finance at the company since April 16, 2026.

Auditor’s Report

V. Singhi & Associates, the statutory auditors, provided an unqualified opinion on the standalone and consolidated financial results. However, the auditors drew attention to the accounting treatment adopted pursuant to the Resolution Plan, which involved the reduction of share capital and extinguishment of liabilities. Additionally, the auditors noted that trade receivables, financial assets, and trade payables are subject to confirmation and reconciliation, with the management’s review process ongoing.

McNally Bharat Engineering Company Limited has officially announced the resignation of its Chief Financial Officer, Rupayan Majumdar, effective from the close of business hours on 30 May 2026. The disclosure, made on 6 May 2026, was submitted to the National Stock Exchange of India Limited and BSE Limited in compliance with Regulation 30 and Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Resignation Details

Rupayan Majumdar, who served as the Chief Financial Officer and Key Managerial Personnel, tendered his resignation citing personal reasons. His resignation will take effect from the close of business hours on 30 May 2026, after which he will cease to hold both designations. A copy of his resignation letter will be filed with the stock exchanges within 7 days of the resignation taking effect.

The following table summarises the key details of the development:

Regulatory Compliance

The intimation was signed by Indrani Ray, Company Secretary of McNally Bharat Engineering Company Limited, on 6 May 2026. The notice has also been uploaded on the company's official website. The company, an ISO 9001:2015, ISO 14001:2015 & ISO 45001:2018 certified entity, is headquartered at Ecospace Campus 2B 11F/12, New Town Rajarhat, North 24 Parganas, Kolkata-700160.