Neo Infracon Limited reported a 14% year-on-year increase in consolidated net profit to ₹89.72 crore for the financial year ended March 31, 2026, driven by improved operational margins despite a decline in revenue. Standalone net profit rose 77% to ₹42.63 crore.

The Board of Directors approved these financial results during a meeting held on August 29, 2026, and scheduled the company's 43rd Annual General Meeting (AGM) for September 22, 2026.

Financial Performance

Consolidated revenue from operations declined 22% to ₹799.64 crore in FY26, down from ₹1,024.46 crore in the previous year. However, cost of sales decreased more sharply by 28% to ₹501.28 crore, supporting margin expansion. Standalone revenue fell 8% to ₹444.64 crore.

EBITDA calculated as operating profit before depreciation and preliminary expenses.

Standalone profit before tax increased 77% to ₹59.20 crore from ₹33.54 crore. The group recorded finance costs of ₹112.68 crore, slightly lower than the ₹118.11 crore incurred in FY25.

What the Numbers Show

The divergence between declining revenue and rising profitability highlights significant cost discipline. While top-line growth contracted, the reduction in cost of sales outpaced revenue decline, allowing EBITDA to expand by 19%. This suggests improved project mix or execution efficiency rather than volume-driven growth.

Auditor Appointments

The company appointed M/s. D. Satyaprakash & Co. LLP (FRN: W100970) as statutory auditors for the term commencing from Financial Year 2026-27 and continuing until the conclusion of the AGM for Financial Year 2030-31. This appointment is subject to shareholder approval.

This change follows the resignation of the outgoing statutory auditors, M/s. D. Kothary & Co., who cited an inability to continue their role in a letter dated August 6, 2026.

Additionally, the board appointed M/s. Abhishek Barola & Co. as internal auditors for Financial Year 2026-27. The internal auditors will evaluate internal processes and controls, submitting periodic reports to the Audit Committee and the Board.

AGM Schedule and Logistics

The 43rd AGM is scheduled for Tuesday, September 22, 2026, at 1:00 pm. The meeting will be conducted exclusively through Video Conferencing (VC) or Other Audio-Visual Means (OAVM), meaning no physical venue is required.

Purva Sharegistry (India) Pvt. Ltd. was appointed as the agency to conduct remote e-voting and e-voting during the AGM using its "Purva E-Voting" platform for Financial Year 2025-26.

Mr. Vijay Mishra, Partner at VKM & Associates, was appointed as the scrutinizer to ensure fair and transparent voting processes.

Corporate Actions

The board approved the Directors' Report for Financial Year 2025-26, dated May 20, 2026, for circulation to members.

The Register of Members and Share Transfer Books will remain closed from September 16, 2026, to September 22, 2026, both days inclusive, in connection with the AGM.

Neo Infracon Limited promoter Darshik D. Mehta acquired 500 equity shares in the company through an open market transaction on August 31, 2026. The acquisition increases his total holding to 4,34,420 shares, representing 8.18% of the total voting capital.

The disclosure was filed with the BSE Limited under Regulation 29(2) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Mehta, who belongs to the promoter group, previously held 4,33,920 shares, or 8.17% of the voting rights.

Transaction Details

The share purchase was executed in the open market. There were no encumbrances, pledges, or liens associated with the acquired shares. The total equity share capital of Neo Infracon Limited remained unchanged at 53,06,800 equity shares before and after the transaction.

Mehta holds no warrants, convertible securities, or other instruments entitling him to receive additional voting rights in the company. The disclosure confirms that the entire holding consists of ordinary equity shares carrying voting rights.