Patels Airtemp (India) Limited reported a 37.8% decline in net profit to ₹1,027.43 lakh for the financial year ended March 31, 2026, as revenue from operations fell 34.8% to ₹25,293.47 lakh. The company’s Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, and recommended a dividend of ₹3.00 per share for the fiscal year. The dividend, equivalent to 30% on equity shares of ₹10 each, is subject to approval by shareholders at the ensuing 34th Annual General Meeting. The audited financial results were published in the Financial Express (English & Gujarati Edition) on June 1, 2026, under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

For the quarter ended March 31, 2026, the company reported a net profit of ₹415.37 lakh, a decrease from ₹449.33 lakh in the corresponding period of the previous year. Total revenue from operations for the quarter stood at ₹8,951.95 lakh, compared to ₹10,406.08 lakh in the same quarter last year. Total income for the quarter was ₹9,060.07 lakh. The company’s finance costs for the quarter were ₹229.35 lakh, while total expenses amounted to ₹8,553.05 lakh.

Financial Performance for FY26

The annual financial results highlight a contraction in profitability and income. Profit before tax for the year stood at ₹1,389.87 lakh, a significant drop from ₹2,187.88 lakh in the previous year. Tax expenses included a current tax of ₹355.73 lakh and a deferred tax of ₹6.71 lakh. Earnings per share (EPS) for the year decreased to ₹18.78 from ₹30.18 in the prior year.

Balance Sheet and Cash Flows

The audited statement of assets and liabilities as of March 31, 2026, shows total assets at ₹29,736.74 lakh, down from ₹30,831.54 lakh in the previous year. Total equity increased to ₹16,610.66 lakh from ₹15,741.90 lakh. Current liabilities decreased to ₹12,915.47 lakh from ₹14,534.18 lakh, while non-current liabilities reduced significantly to ₹210.61 lakh from ₹555.47 lakh, driven by the repayment of non-current borrowings.

The cash flow statement for the year indicates a net increase in cash and cash equivalents of ₹618.22 lakh, bringing the closing balance to ₹3,365.62 lakh. Net cash generated from operating activities was ₹2,279.62 lakh, while investing activities resulted in a net outflow of ₹319.17 lakh. Financing activities saw a net outflow of ₹1,342.23 lakh, largely due to interest payments of ₹995.03 lakh and dividend payments of ₹164.11 lakh.

Auditor and Regulatory Disclosures

The Statutory Auditors, M/s. Parikh & Majmudar, Chartered Accountants, issued an audit report with an unmodified opinion on the standalone Ind AS financial results. The auditors included an emphasis of matter noting that balance confirmations from suppliers and customers were awaited at the date of the audit, and consequently, balances of receivables and trade payables were taken as per the company's books of accounts. The financial results were reviewed by the Audit Committee and approved by the Board on May 30, 2026.

Patels Airtemp (India) Limited has announced that its board of directors will meet on Saturday, May 30, 2026, to discuss and approve the company's financial performance for the fiscal year ending March 31, 2026. The meeting is scheduled to be held at 3:30 p.m. at the company's factory premises located in Rakanpur, Gujarat.

Agenda for the Board Meeting

The primary focus of the meeting will be to consider and approve the audited financial results for the quarter and year ended March 31, 2026. This includes a review of the notes to the accounts, the statement of assets and liabilities as of March 31, 2026, and the cash flow statement for the financial year. Additionally, the board will evaluate the possibility of recommending a dividend for the year ended March 31, 2026, on the company's 54,70,240 equity shares of ₹10 each.

Trading Window Closure

In compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015, and the company's code of conduct for insider trading, the trading window for dealing in the equity shares of Patels Airtemp (India) Limited has been closed since April 1, 2026. This restriction applies to directors, employees, promoters and promoter group members, statutory auditors, and all connected persons and their relatives. The window will remain closed until 48 hours after the declaration of the audited financial results, effectively extending the closure period up to June 2, 2026.

Key Meeting Details