Parmeshwar Metal Limited, formerly known as Parmeshwar Metal Private Limited, announced its audited financial results for the half year and year ended March 31, 2026, at a Board of Directors meeting held on May 08, 2026. The company, engaged in manufacturing and trading of non-ferrous metal related products and operating in a single business and geographical segment within India, reported a sharp improvement across key financial metrics for the full fiscal year.

Strong Revenue and Profit Growth in FY26

The company delivered robust top-line and bottom-line performance for the year ended March 31, 2026. Revenue from operations rose to INR 1,97,294.16 lacs from INR 1,38,243.37 lacs in the previous year, while total income reached INR 1,97,616.88 lacs against INR 1,38,511.07 lacs in the prior year. Net profit for the year stood at INR 3,249.37 lacs, compared to INR 1,097.80 lacs in the previous year. The following table summarises the key financial results:

Half-Year Performance Highlights

For the half year ended March 31, 2026, the company reported revenue from operations of INR 1,12,770.38 lacs and a net profit of INR 2,345.70 lacs, compared to INR 75,138.63 lacs and INR 670.75 lacs respectively for the half year ended March 31, 2025. Basic and diluted earnings per share for the half year ended March 31, 2026 stood at INR 15.33, against INR 5.13 for the corresponding period of the previous year. These half-year figures are not annualised.

Balance Sheet and Cash Flow Position

The company's total assets as at March 31, 2026 stood at INR 13,960.40 lacs, up from INR 8,896.36 lacs as at March 31, 2025. Shareholders' funds comprised share capital of INR 1,530.60 lacs and reserves and surplus of INR 8,673.95 lacs. Net cash flow from operating activities for the year ended March 31, 2026 was INR 2,163.63 lacs, compared to a net outflow of INR (417.36) lacs in the previous year. Cash and cash equivalents at the end of the year stood at INR 64.71 lacs, against INR 269.16 lacs at the beginning of the year.

Dividend Recommendation and Key Appointments

The Board of Directors recommended a final dividend of INR 1.25 per equity share of INR 10/- each, representing 12.5%, for the financial year ended March 31, 2026, subject to shareholder approval at the ensuing Annual General Meeting. The Board also approved the following appointments for Financial Year 2026-2027:

• Internal Auditor: M/s. R N C A & Associates, Practicing Chartered Accountants (Firm Registration No. 0131593W), based in Ahmedabad, Gujarat, appointed with effect from May 08, 2026.
• Cost Auditor: M/s. S A & Associates, Practicing Cost Accountants (Firm Registration No. 000347), based in Ahmedabad, Gujarat, appointed with effect from May 08, 2026.

IPO Proceeds Utilisation

The company received INR 2,474.16 lacs as proceeds from the fresh issue of equity shares. As at March 31, 2026, all IPO proceeds have been fully utilised. The utilisation details are as follows:

A reallocation of INR 41.35 lacs from public issue expenses to working capital requirements was approved by shareholders at the 9th Annual General Meeting held on September 30, 2025. The statutory auditors, M/s. Shah & Shah, Chartered Accountants (FRN: 131527W), have issued an audit report with an unmodified opinion on the standalone audited financial results for the year ended March 31, 2026.

Parmeshwar Metal Limited has received a significant order from the GST Authority in Gujarat, confirming a substantial tax demand along with penalties totaling ₹7.66 crore. The company disclosed this development to BSE Limited on April 15, 2026, in compliance with regulatory requirements under SEBI listing obligations.

GST Authority Order Details

The Deputy Commissioner of State Tax (Enforcement) Division-03, Gandhinagar issued the order in Form GST DRC-07, which addresses alleged violations under the Central Goods and Service Tax Act, 2017 and the Gujarat Goods and Service Tax Act, 2017.

Nature of Alleged Violations

The GST authority's order pertains to alleged inadmissible Input Tax Credit (ITC) that the company reportedly received from non-existent suppliers and tax defaulters. This issue forms the core of the tax demand and penalty assessment under the GST regulations.

Company's Response and Legal Strategy

Parmeshwar Metal Limited has indicated its intention to challenge the order through appropriate legal channels. The company plans to file an appeal before the Appellate Authority against the GST order, expressing confidence in its position.

Management's Assessment

The company's management has provided the following assessment of the situation:

• The demand confirmed in the order is considered to be without merit
• The company expects the demand to be set aside during appellate proceedings
• No material impact is anticipated on the company's financial, operational, or other activities

Regulatory Compliance

The disclosure was made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the SEBI Master Circular dated January 30, 2026. This ensures transparency with stakeholders regarding material developments that could potentially impact the company's operations.