Photoquip (India) Limited held its Board of Directors meeting on Wednesday, 13th May, 2026, at its registered office in Mumbai, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board approved the Audited Standalone Financial Results for the fourth quarter and financial year ended 31st March, 2026. The meeting commenced at 03:00 P.M. (IST) and concluded at 04:15 P.M. (IST). The statutory auditors, M/s. F P & Associates, issued an unmodified (clean) audit opinion on the standalone financial results, as declared under Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015.

Financial Performance Overview

Photoquip India's financial results for FY26 reflect a significant reversal from the prior year, with the company swinging to a net loss. Total income from operations declined to ₹1,572.66 lakhs in FY26 from ₹1,809.10 lakhs in FY25, while total expenses rose to ₹1,668.96 lakhs from ₹1,759.23 lakhs. The company reported a pre-tax loss of ₹96.31 lakhs for FY26, compared to a pre-tax profit of ₹49.87 lakhs in FY25. After accounting for a deferred tax credit of ₹12.05 lakhs, the net loss for FY26 stood at ₹84.26 lakhs, against a net profit of ₹34.10 lakhs in FY25.

The following table summarises the key financial metrics for the quarter and year ended 31st March, 2026 (Amount in ₹ Lakhs, except EPS):

Expense Breakdown

A closer look at the cost structure reveals key drivers of the FY26 loss. Purchase of stock-in-trade for FY26 stood at ₹911.69 lakhs versus ₹948.15 lakhs in FY25. Employee benefit expenses increased to ₹124.23 lakhs from ₹110.82 lakhs. Finance costs rose notably to ₹126.12 lakhs from ₹95.79 lakhs, while other expenditure climbed to ₹326.78 lakhs from ₹265.92 lakhs. Depreciation and amortisation for FY26 was ₹85.30 lakhs compared to ₹79.67 lakhs in FY25. The paid-up equity share capital remained unchanged at ₹600.08 lakhs (face value ₹10 per share).

Balance Sheet Highlights

The company's total assets expanded to ₹2,262.74 lakhs as at 31st March, 2026, from ₹1,930.57 lakhs as at 31st March, 2025. Key movements include a rise in non-current borrowings to ₹1,098.32 lakhs from ₹467.86 lakhs, while current borrowings declined to ₹236.22 lakhs from ₹414.68 lakhs. Other equity contracted to ₹118.31 lakhs from ₹202.58 lakhs, reflecting the year's net loss. The key balance sheet figures are presented below (Amount in ₹ Lakhs):

Cash Flow Summary

The cash flow statement for FY26 highlights significant pressure on operating cash flows. Net cash used in operating activities stood at ₹(443.11) lakhs for FY26, compared to a net inflow of ₹61.27 lakhs in FY25. Net cash from investing activities was ₹114.97 lakhs, while net cash from financing activities was ₹306.87 lakhs, primarily driven by an increase in non-current borrowings of ₹630.46 lakhs. Overall, cash and cash equivalents decreased by ₹21.28 lakhs during FY26, closing at ₹19.68 lakhs versus ₹40.96 lakhs at the start of the year.

Auditor's Report and Key Notes

The statutory auditors, M/s. F P & Associates (FRN: 143262W), issued an unmodified opinion on the standalone financial results, confirming they present a true and fair view in conformity with Indian Accounting Standards (Ind-AS). The auditors, however, drew attention to several emphasis of matter points, including balances pending with government authorities, slow-moving closing stock, non-creation of deferred tax assets on current year's unabsorbed losses, non-receipt of advances given to a vendor, and non-receipt of receivables from a related party. The company's management has stated its opinion that all such amounts are realizable. The audit report was signed by F. S. Shah (Membership No. 133589), Partner, at Ahmedabad, dated 13th May, 2026 (UDIN: 26133589WMNYI9163). The financial results were approved in accordance with Regulation 33 of the SEBI (LODR) Regulations, 2015, and are available on the BSE website at www.bseindia.com and on the company's website at www.photoquip.com . The communication was signed by Dhaval Soni, Managing Director (DIN: 00751362), from Mumbai.

Photoquip (India) Limited , in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, has informed the exchange of key changes to its Company Secretarial function following a Board of Directors meeting held on May 8, 2026. The meeting commenced at 04:00 P.M. and concluded at 04:30 P.M.

Appointment of New Company Secretary and Compliance Officer

Based on the recommendation of the Nomination and Remuneration Committee, the Board approved the appointment of Ms. Vrinda Binani as Company Secretary and Compliance Officer of the Company. She has also been designated as Key Managerial Personnel (KMP) of the Company. Both designations are effective from May 8, 2026.

The key details of Ms. Vrinda Binani's appointment are as follows:

Resignation of CS Aishwarya Anil Lohkare

The Board also formally considered and accepted the resignation of CS Aishwarya Anil Lohkare from the post of Company Secretary and Compliance Officer (Key Managerial Personnel). The Board noted that she ceased to hold the position with effect from the close of business hours on April 30, 2026.

The key details pertaining to the resignation are outlined below:

The disclosure was signed by Dhaval Soni, Managing Director (DIN: 00751362), on behalf of Photoquip (India) Limited, dated May 8, 2026.