Naksh Precious Metals Limited, formerly known as Vaksons Automobiles Limited, returned to profitability in Q1FY26 with a consolidated net profit after tax of ₹0.05 lakh. This result contrasts sharply with the ₹59.12 lakh loss posted for the full fiscal year 2025, signaling an operational improvement despite a contraction in top-line revenue.

The company’s consolidated total income for the quarter stood at ₹26.12 lakh, a decline from ₹32.26 lakh recorded in Q1FY25. Before tax, the company generated a profit of ₹1.82 lakh, compared to a loss of ₹79.98 lakh in the preceding quarter (Q4FY25). The Board of Directors approved these unaudited results on August 14, 2026, following a limited review by statutory auditors.

Financial Performance Overview

The financial data reveals a divergence between revenue trends and bottom-line recovery. While revenue contracted year-on-year, the company managed to curb losses significantly compared to the previous quarter and the prior fiscal year.

Note: The previous year's figures represent standalone results as the subsidiary had not commenced operations during that period.

What the Numbers Show

A critical observation from the filing is the structural shift in reporting basis. The current quarter’s figures are presented on a consolidated basis, whereas the comparative period (Q1FY25) reflects standalone operations only. This change complicates direct year-on-year comparisons, as the inclusion of subsidiary activities in the current period may impact margin dynamics and cost structures differently than standalone operations. Additionally, the near-total erosion of pre-tax profit into post-tax profit (₹1.82 lakh before tax vs ₹0.05 lakh after tax) suggests significant tax provisions or other comprehensive income adjustments impacting the final bottom line, although specific tax rates were not disclosed in the extract.

Key Disclosures

• The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) 34.
• The company adopted Ind AS effective April 1, 2024, with a transition date of April 1, 2023.
• Naksh Precious Metals operates in a single reportable business segment; therefore, no segment-wise disclosures were provided.
• The Audit Committee reviewed the results prior to Board approval.

Naksh Precious Metals Limited reported a net loss of ₹37.58 lakh for the financial year ended March 31, 2026, a significant decline from the net profit of ₹45.25 lakh recorded in the previous year. The company's revenue from operations fell to ₹134.24 lakh in FY26 from ₹235.14 lakh in FY25. The board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 30, 2026.

For the quarter ended March 31, 2026, the company reported a net loss of ₹58.73 lakh, compared to a net profit of ₹4.55 lakh in the same quarter of the previous year. Revenue from operations for the quarter stood at ₹34.11 lakh, down from ₹50.98 lakh in Q4FY25. Total expenses for the year increased to ₹197.80 lakh from ₹192.98 lakh in the prior year.

Key Financial Metrics

Auditor's Observations

The statutory auditor, D G M S & Co., highlighted a key audit matter regarding the company's cash-in-hand balance of ₹164.98 lakhs. The auditor noted that no supporting documentary evidence, such as physical cash verification reports or bank withdrawal slips, was provided for audit verification, raising concerns about the existence and accuracy of the reported cash balance. The auditor provided an unmodified opinion on the financial results.

Consolidated Performance

On a consolidated basis, the company reported a net loss of ₹37.40 lakh for FY26, compared to a net profit of ₹45.25 lakh in FY25. Total revenue for the year stood at ₹155.74 lakh. The consolidated results include the financial figures of subsidiary NAS Global Industries Private Limited, in which Naksh Precious Metals holds a 51% stake.