Melstar Information Technologies Limited posted a standalone net profit of ₹124.99 lakh for the quarter ended September 30, 2026, reversing a loss of ₹53.84 lakh in the same quarter of the previous year. The board also approved a proposed name change to Melstarr Aerospace & Technologies Limited.

The Board of Directors met on October 19, 2026, and approved the audited standalone and consolidated financial results for the quarter and half year ended September 30, 2026. The results were audited by M/s. CKSP & Co LLP, Chartered Accountants, the statutory auditors of the company, who issued a qualified opinion on both standalone and consolidated financial statements, citing going concern considerations linked to the company's prior insolvency resolution process.

Standalone financial performance

On a standalone basis, Melstar reported revenue from operations of ₹150.00 lakh for Q2FY27, compared to nil in Q2FY26 and nil in Q1FY27. Total expenses for the quarter stood at ₹25.01 lakh, down from ₹53.84 lakh in Q2FY26, resulting in a profit before tax of ₹124.99 lakh. No tax expense was recorded for the period. The basic and diluted EPS (not annualised) for Q2FY27 was ₹4.47, compared to ₹(1.93) in Q2FY26.

For the half year ended September 30, 2026, standalone revenue from operations was ₹150.00 lakh against nil in the corresponding prior period, with net profit of ₹90.49 lakh versus a loss of ₹98.10 lakh. Half-year EPS (not annualised) stood at ₹3.24 versus ₹(3.51).

The table below summarises key standalone financial metrics (₹ in lakh):

Consolidated financial performance

On a consolidated basis, the group reported revenue from operations of ₹150.00 lakh for Q2FY27 against nil in Q2FY26. Total consolidated expenses for the quarter were ₹63.04 lakh versus ₹85.72 lakh in Q2FY26, yielding a consolidated profit before tax of ₹86.96 lakh compared to a loss of ₹85.72 lakh in Q2FY26. Consolidated basic and diluted EPS (not annualised) for Q2FY27 was ₹3.11 versus ₹(3.07) in Q2FY26.

For the half year ended September 30, 2026, consolidated net profit stood at ₹24.35 lakh against a loss of ₹157.21 lakh in the prior period. Half-year consolidated EPS (not annualised) was ₹0.87 versus ₹(5.63).

The consolidated interim financial statements include two subsidiaries with total assets of ₹611.06 lakh as at September 30, 2026, total revenue of nil for both the quarter and half year ended September 30, 2026, net profit after tax of ₹(69.52) lakh and ₹3.13 lakh, and total comprehensive income of ₹(69.52) lakh and ₹3.13 lakh for the quarter and half year ended September 30, 2026 respectively, and net cash inflow of ₹13.73 lakh for the half year ended September 30, 2026.

Corporate actions approved by the board

The board approved the following resolutions at its October 19, 2026 meeting, subject to shareholder and regulatory approvals where applicable:

• Change of company name from Melstar Information Technologies Limited to Melstarr Aerospace & Technologies Limited, or any other name approved by the Central Processing Centre, Ministry of Corporate Affairs, with consequential amendments to the Memorandum of Association and Articles of Association
• Alteration of the Object Clause of the Memorandum of Association, subject to shareholder approval
• Adoption of Table F of Schedule I of the Companies Act, 2013 as the Articles of Association, subject to shareholder approval

Auditor qualification and going concern note

The statutory auditors issued a qualified opinion on both standalone and consolidated financial statements. The qualification relates to the going concern basis of preparation, noting that an application for initiation of corporate insolvency resolution process was admitted by the National Company Law Tribunal, Mumbai vide order dated October 1, 2019 under the Insolvency and Bankruptcy Code, 2016. The qualification has been recurring since December 31, 2024. The company states it is awaiting business licences and clearances to commence operations and has prepared its financial statements on a going concern basis.

The auditors also noted that due to an inadvertent typographical error, a form filed with the Ministry of Corporate Affairs reflected public shareholding as 1,51,737 equity shares instead of 1,51,661 equity shares as specified in the NCLT order dated August 9, 2024. The company has initiated corrective measures with the MCA, and the discrepancy has been rectified in the financial statements. The paid-up equity share capital remains at ₹279.37 lakh with a face value of ₹10.00 per share across all reported periods.

Melstar Information Technologies Limited shareholders approved a special resolution to accept loans up to ₹300 crore from promoters and directors during the company's 39th Annual General Meeting (AGM). The loan facility includes an option for conversion into equity shares.

The meeting was held on September 30, 2026, at 11:28 am through Video Conference (VC) in compliance with Ministry of Corporate Affairs and SEBI circulars. Mr. Tarun Kashyap, Director, took the chair. The proceedings were conducted in accordance with the Companies Act, 2013.

Resolutions Passed

Shareholders transacted both ordinary and special business items. Key resolutions included the adoption of standalone and consolidated financial statements for the fiscal year, and the re-appointment of a director retiring by rotation. Additionally, members approved material related party transactions for FY27.

Meeting Proceedings

The AGM facilitated remote e-voting between September 27, 2026, and September 29, 2026. Ms. Bhawna Rajawat, Company Secretary, served as the moderator. Speaker shareholders were invited to express views on financial statements and proposed resolutions, with queries addressed during the session.

Mr. Pawan Jain & Associates, Practicing Company Secretary, acted as the scrutiniser for the e-voting process. The combined results of remote e-voting and e-voting during the AGM, along with the consolidated Scrutiniser's Report, are scheduled to be declared within prescribed timelines. The meeting concluded at 11:40 am.