Pulsar International reported a net loss of ₹7.3 lakh for the quarter ended June 30, 2026, compared to a net profit of ₹40.4 lakh in the same period of FY25. The company’s revenue from operations fell sharply by 68% year-on-year to ₹23.0 crore, down from ₹75.0 crore in Q1FY25.

The Board of Directors approved the standalone unaudited financial results during its meeting held on August 14, 2026. This date followed a postponement from the originally scheduled August 10 meeting. The Statutory Auditors, Shweta Jain & Co LLP, issued a limited review report on the interim financial results.

Financial Performance

Total revenue stood at ₹23.1 crore for the quarter, significantly lower than the ₹74.0 crore recorded in Q1FY25. Total expenses were ₹23.2 crore, resulting in a pre-tax loss of ₹7.3 lakh. In the previous year’s quarter, total revenue was ₹75.0 crore against expenses of ₹70.9 crore, yielding a pre-tax profit of ₹40.4 lakh.

Revenue from operations in Q1FY27 was ₹2299.5 lakh, compared to ₹749.7 lakh in Q1FY25. However, total expenses rose to ₹2319.5 lakh from ₹709.3 lakh in the prior year period. Key expense drivers included purchases of stock-in-trade at ₹1172.0 lakh and changes in inventories amounting to ₹1116.3 lakh. Depreciation and amortisation expenses were ₹16.7 lakh, while employee benefits cost ₹1.2 lakh.

What the Numbers Show

The shift from profit to loss was driven by a significant increase in inventory-related costs despite lower operational revenue. Changes in inventories of finished goods, work-in-progress, and stock-in-trade accounted for ₹1116.3 lakh of the total expenses in Q1FY27, whereas this figure was zero in Q1FY25. This suggests a buildup in inventory levels that has not yet translated into sales revenue, impacting the bottom line. Meanwhile, other income contributed ₹12.8 lakh in the current quarter, compared to nil in the previous year.

The company’s paid-up equity share capital remains at ₹4283.4 lakh. Basic earnings per share were flat at ₹0.00, compared to ₹0.06 in Q1FY25. The trading window for insiders remains closed until 48 hours after the public release of these results.

Pulsar International Limited has accepted the resignation of Devendrasing Umath as an Independent Director, effective July 30, 2026, after the closing of business hours. The departure is attributed to personal health issues, which Umath stated prevent him from continuing to discharge his duties and responsibilities as a Director. This change in board composition was disclosed to the Bombay Stock Exchange (BSE) on July 29, 2026.

The company notified the exchange pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. In its intimation, Pulsar International confirmed that Umath tendered his resignation due to health issues. The disclosure included specific details regarding the resignation, noting that there is no shareholding interest to be disclosed and that the relationship with management is not applicable for this particular transaction record.

Devendrasing Umath, holding DIN 06695377, submitted his resignation letter directly to the Board of Directors. In the letter, he expressed gratitude to the Board, management, and stakeholders for their support and cooperation during his tenure. He explicitly requested the Board to accept the resignation and complete all statutory compliances under the Companies Act, 2013, and other applicable laws.

A key aspect of the resignation filing is the confirmation regarding the nature of the departure. Umath confirmed that there are no material reasons for his resignation other than the personal health issues stated above. This clarification helps investors understand that the exit is not driven by any disagreement with the company’s strategy or governance practices.

Resignation Details

The Managing Director, Arvind Parmar (DIN: 09356562), signed the regulatory filing on behalf of the company. The resignation takes effect immediately following the close of business on July 30, 2026, marking the end of Umath’s service as an Independent Director.