Phoenix Overseas Limited has identified clerical errors in its Consolidated Financial Statements for the year ended March 31, 2026, which were originally filed on May 20, 2026. The company stated that the figures relating to Earnings Per Share (EPS) were incorrectly stated due to a clerical oversight. Additionally, the heading of the financial statement was inadvertently mentioned as "Unaudited Financial Statements" instead of "Audited Financial Statements for the year ended 31st March, 2026".

The company clarified that these errors are purely clerical in nature and do not affect any other financial information, disclosures, or the overall financial position and performance of the entity. Consequently, the company will file revised XBRL for Financial Results, which will be submitted through announcements in PDF format.

The audited financial results for the year ended March 31, 2026, reported a total revenue of ₹61,313.94 lacs, compared to ₹49,026.13 lacs in the previous year. Net profit for the period stood at ₹343.17 lacs, a decrease from ₹458.26 lacs in the prior year. The company’s total assets as of March 31, 2026, were recorded at ₹14,722.36 lacs.

Financial Performance

The following table outlines the key financial metrics for the year ended March 31, 2026, compared to the previous year:

Segment Reporting

The company operates across three primary segments: Merchant Exports, Fashion Accessories, and Cold Storage Operations. Merchant Exports remained the dominant revenue driver, contributing ₹61,009.28 lacs to the total revenue for the year ended March 31, 2026. Fashion Accessories and Cold Storage Operations contributed ₹103.25 lacs and ₹201.42 lacs, respectively.

Auditor's Opinion

M/s Jain Seth & Co., Chartered Accountants, issued an unmodified opinion on the audited financial results. The audit report confirms that the consolidated financial results give a true and fair view of the net profit and other financial information of the Group for the half year and year ended March 31, 2026, in conformity with the recognition and measurement principles laid down in the applicable accounting standards.

Phoenix Overseas Limited has announced its audited standalone and consolidated financial results for the financial year ended March 31, 2026. The board of directors, which met on May 20, 2026, approved the results and recommended a dividend for the fiscal year.

The company reported a net profit of ₹319.42 lakh for the year ended March 31, 2026, compared to ₹549.10 lakh in the previous year ended March 31, 2025. Total revenue from operations for FY26 stood at ₹61,048.77 lakh, up from ₹48,795.38 lakh in FY25. Total revenue, including other income, increased to ₹61,313.94 lakh from ₹49,026.13 lakh in the prior year.

Financial Performance

The total expenses for the year rose to ₹60,879.80 lakh from ₹48,286.90 lakh in the previous year. Profit before tax for the year was ₹434.14 lakh, a decline from ₹739.23 lakh in FY25. The basic and diluted earnings per share (EPS) for the year were recorded at ₹1.65, compared to ₹8.37 in the previous year.

The company noted that the year was challenging due to geopolitical disturbances, particularly in Bangladesh, and volatility in exchange rates. However, the second half of the financial year saw significant improvements in both top line and bottom line. Better working capital management helped reduce finance expenses from 0.81% of revenue in FY 2024-25 to 0.57% in FY 2025-26.

Dividend Declaration

The board has recommended a dividend of ₹0.60 paisa per equity share of ₹10 each, equivalent to 6%, for the financial year 2025-26. This dividend is subject to the approval of members at the ensuing 23rd Annual General Meeting. The company has fixed Friday, May 29, 2026, as the record date to determine the entitlement of members for the proposed final dividend.

Key Financial Metrics

Corporate Actions

The 23rd Annual General Meeting of the company is scheduled to be held on Friday, August 28, 2026, at 3:00 p.m. IST via Video Conferencing. The company has fixed Friday, July 31, 2026, as the cut-off date for determining shareholders to whom the notice of the AGM will be sent. The statutory auditors, Jain Seth & Co. Chartered Accountants, have issued an audit report with an unmodified opinion on the financial results.