Resourceful Automobile Limited reported a net profit of ₹151.01 lakh for the financial year ended March 31, 2026, representing an increase from ₹127.07 lakh in the previous year. Revenue from operations for the period rose to ₹2,625.91 lakh, compared to ₹2,062.86 lakh in FY25. The company’s total income for the year stood at ₹2,688.35 lakh. The Board of Directors approved the standalone audited financial results for the half year and year ended March 31, 2026, at a meeting held on June 17, 2026. The results were recommended by the Audit Committee and are accompanied by an unmodified opinion from the statutory auditors, M/s Nahar V & Company, Chartered Accountants.

Financial Performance

The company reported a profit before tax of ₹202.79 lakh for FY26, up from ₹169.80 lakh in the prior year. Total expenses for the year increased to ₹2,485.56 lakh from ₹1,994.15 lakh in FY25. The finance costs for the year amounted to ₹100.38 lakh, while depreciation and amortisation expenses were recorded at ₹2.79 lakh. For the half year ended March 31, 2026, the net profit was recorded at ₹129.73 lakh, with revenue from operations at ₹1,814.12 lakh. Earnings per share (EPS) basic for the full year improved to ₹5.69 from ₹4.78 in the previous year.

Key Financial Metrics

IPO Fund Utilisation

During the SME IPO, Resourceful Automobile Limited raised ₹11.99 crore by issuing 10,24,800 equity shares at a price of ₹117 per share. The funds were allocated towards working capital requirements, repayment of debt, and general corporate purposes. As of March 31, 2026, unutilised IPO proceeds amounting to ₹1.66 lakh were lying in an escrow account maintained with Axis Bank.

Balance Sheet and Cash Flows

The company’s reserves and surplus increased to ₹1,569.32 lakh as of March 31, 2026, from ₹1,418.32 lakh in the previous year. Long-term borrowings saw a significant rise to ₹1,236.18 lakh from ₹500.00 lakh. Cash and cash equivalents decreased to ₹103.40 lakh from ₹345.45 lakh at the end of the previous year. The net cash generated from operating activities was negative at ₹(811.65) lakh, primarily due to changes in working capital.

Resourceful Automobile Limited has appointed M/s Nahar V and Company as its statutory auditor effective May 11, 2026, following the resignation of the previous auditor due to health reasons. The Board of Directors approved the appointment based on the Audit Committee's recommendation, subject to shareholder approval at the upcoming Annual General Meeting in 2026. The transition ensures continuity in the company's audit oversight amidst a change in statutory leadership.

M/s N G M K S & Associates resigned as Statutory Auditor effective May 11, 2026, citing prolonged poor health and medical reasons affecting the partner responsible for the audit engagement. The firm confirmed there were no disagreements with the management regarding financial reporting or operations. However, the outgoing auditor noted that the utilisation of proceeds from the Initial Public Offer was not verified due to a lack of information provided prior to the resignation.

The new auditor, M/s Nahar V and Company, brings extensive experience in statutory audits, internal audits, tax audits, and corporate advisory services. The firm has confirmed compliance with the eligibility conditions under the Companies (Audit and Auditors) Rules, 2014, and stated there are no professional proceedings against it or its partners. The appointment is pursuant to the Companies Act, 2013 and SEBI Listing Regulations, 2015.

The company disclosed a delay in filing this information due to an unforeseen medical emergency involving the Managing Director immediately after the Board meeting. As the final approval for the disclosure required the Managing Director's authorization under the internal framework, the filing was submitted only upon the executive's recovery and resumption of duties. The company stated the delay was inadvertent and not intentional.

Auditor Transition Details