MITCON Consultancy & Engineering Services Limited reported a consolidated net profit of ₹941.49 lakh for the financial year ended March 31, 2026, an increase from ₹654.06 lakh in the previous year. The company’s revenue from operations for the year stood at ₹12,566.84 lakh, compared to ₹11,271.19 lakh in FY25. On a standalone basis, net profit for the year was ₹528.36 lakh, while revenue from operations reached ₹6,012.05 lakh.

The Board of Directors, in its meeting held on May 27, 2026, approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The auditors, J. Singh & Associates, issued an unmodified opinion on the financial results. The Board also appointed M/s Galgali and Associates as Internal Auditors and M/s. Shahane & Co. as Tax Auditors for the financial year 2026-27. Pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company published these results in Financial Express and Loksatta on May 28, 2026.

Financial Performance

The company’s total income from operations for FY26 was ₹12,767.37 lakh on a consolidated basis. Total expenses for the year were reported at ₹11,509.47 lakh. Profit before tax for the year stood at ₹1,258.81 lakh, while the profit attributable to owners of the company was ₹808.75 lakh. Earnings per share (EPS) basic for the year increased to ₹5.41 from ₹4.63 in the previous year.

For the quarter ended March 31, 2026, the company reported a consolidated net profit of ₹564.43 lakh and revenue from operations of ₹4,523.29 lakh. Standalone net profit for the quarter was ₹215.21 lakh with revenue from operations at ₹2,070.96 lakh.

Segment Results

The Consultancy and Training segment remained the primary revenue driver, contributing ₹9,434.20 lakh to the consolidated revenue for FY26. The Wind / Solar Power Generation segment reported revenue of ₹1,741.07 lakh, while the Project Service segment contributed ₹1,391.57 lakh. The company noted that the wind and solar power generation business is subject to seasonal variations.

Utilization of Funds

The company confirmed that the total proceeds of ₹3,074.40 lakh from the Rights Issue have been fully utilised as of March 31, 2026. There was no deviation in the use of proceeds from the objects stated in the offer documents. The funds were utilized for investments in subsidiaries, upgradation of laboratories, and general corporate purposes.

MITCON Consultancy & Engineering Services Ltd has fully utilised the net proceeds of ₹3,074.40 lakh raised through its rights issue for the financial year ending March 31, 2026. The funds were deployed towards investments in subsidiaries, capital expenditure, and working capital requirements, as certified by statutory auditor J Singh & Associates.

The rights issue proceeds were received in two tranches: ₹805.85 lakh as application money during FY2024-25 and ₹2,268.55 lakh as the first and final call during FY2025-26. The total amount raised was ₹3,074.40 lakh, which excludes issue expenses of ₹50.00 lakh. The company allocated the majority of the funds to specific corporate objects, ensuring complete utilisation by the end of the fiscal year.

Utilisation of Proceeds

The company directed the capital towards several strategic initiatives. The largest allocation was for part-funding incremental working capital requirements, which accounted for ₹1,140.00 lakh. Investments in wholly-owned subsidiary MITCON Sun Power Limited and joint venture MITCON Nature Based Solutions Limited amounted to ₹343.75 lakh and ₹93.00 lakh, respectively.

Breakdown of Fund Allocation

Financial Status and Certification

The certificate confirms that the actual utilisation of rights issue proceeds aligns with the management's statements, verified against the company's books of account. As of March 31, 2026, the unutilised bank balance was nil, with ₹1.00 lakh held in an ICICI Bank account and ₹30.78 lakh in a linked term fixed deposit, offset by interest received. The rights issue size was initially ₹3,223.40 lakh but was reduced to ₹3,074.40 lakh due to an unsubscribed portion of ₹149.00 lakh.