Simplex Castings Limited reported a net profit of ₹685.8 lakh for the quarter ended June 30, 2026, marking a 44% increase from ₹473.75 lakh in the same period of the previous year. Revenue from operations rose 35% year-on-year to ₹6,094.69 lakh, up from ₹4,519.73 lakh in Q1FY26.

The quarterly results reflect improved operational performance alongside higher top-line growth. Profit before tax stood at ₹916.46 lakh, compared to ₹633.08 lakh a year ago. The company also reported a profit before exceptional items and tax of ₹916.46 lakh, indicating that the current quarter’s earnings were driven purely by core operations without any one-off gains, unlike the prior year’s fourth quarter which included exceptional items of ₹85.90 lakh.

Financial Highlights

The weighted average number of equity shares increased to 4,09,96,235 from 3,53,71,820 in the previous year due to the sub-division of shares from a face value of ₹10 to ₹2 each, approved in May 2026. Consequently, basic and diluted EPS were adjusted retrospectively.

What the Numbers Show

While revenue grew significantly, other income declined sharply to ₹5.36 lakh in Q1FY27 from ₹42.89 lakh in Q4FY26. This drop in non-operating income was more than offset by a reduction in cost of raw materials consumed relative to revenue. Raw material costs stood at ₹2,994.20 lakh against revenue of ₹6,094.69 lakh, suggesting improved input cost management or favorable product mix compared to the previous quarter where raw material costs were ₹4,982.99 lakh against lower revenue of ₹5,476.28 lakh.

Corporate Governance Updates

During its meeting on August 14, 2026, the Board of Directors approved several key administrative appointments:

• Company Secretary: Mr. Chandra Shekhar Sahu was appointed as Company Secretary and Compliance Officer effective August 14, 2026. He is an Associate Member of the Institute of Company Secretaries of India with an LLB degree.
• Statutory Auditor: The board recommended the appointment of M/s M D N & Associates, Chartered Accountants, Bhilai, to fill the casual vacancy caused by the resignation of M/s Harsh Jain & Associates. The term is for five consecutive years subject to shareholder approval at the upcoming AGM.
• Internal Auditor: M/s Nistha Agrawal & Co, Chartered Accountants, Raipur, was appointed as Internal Auditor for FY27.

The company confirmed there was no deviation in the utilization of funds raised through preferential issues. The ₹20.75 crore raised on March 28, 2026, and ₹0.25 crore raised on March 31, 2026, have been fully utilized for working capital requirements related to casted railway bogies and long-term power sector fabrication work.

The 46th Annual General Meeting is scheduled for September 16, 2026, via video conferencing.

Simplex Castings Limited announced that M/s. Harsh Jain & Associates has resigned as its statutory auditor, effective from the closing of business hours on August 14, 2026. The resignation follows a letter dated August 06, 2026, in which the audit firm cited pre-occupation with other professional commitments as the primary reason for its departure. This change in audit oversight requires the company to appoint a new statutory auditor to ensure continuity in financial reporting and regulatory compliance.

The resignation is filed pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. HO/49/14/14(7)2025-CFDPD2/I/3762/2026 dated January 30, 2026. The disclosure was submitted to BSE Limited and Calcutta Stock Exchange by Sangeeta Ketan Shah, Managing Director of Simplex Castings Limited.

Resignation Timeline and Scope

The transition is structured to allow the outgoing auditor to complete pending obligations. M/s. Harsh Jain & Associates will submit the limited review report for the unaudited financial results for the quarter ended June 30, 2026, during the Board Meeting scheduled for August 14, 2026. The resignation becomes effective immediately after this submission and the furnishing of all requisite certifications for the period.

Regulatory and Corporate Governance Implications

The Audit Committee and the Board of Directors are required to note the resignation at their ensuing meetings and take necessary steps to fill the casual vacancy in accordance with the Companies Act, 2013 and SEBI Listing Regulations. The resigning auditor confirmed that there are no material concerns regarding the management of Simplex Castings Limited, and no issues were raised with the Audit Committee prior to the resignation. Consequently, the disclosure regarding the views of the Audit Committee on the resignation is not applicable.

Auditor Profile and Tenure

M/s. Harsh Jain & Associates was appointed as the statutory auditor on September 28, 2024, with a term scheduled to expire until the conclusion of the company’s 49th Annual General Meeting in 2029. The firm had previously issued the audit report for the financial year ended March 31, 2026, on May 28, 2026. The firm is headquartered in Durg, Chhattisgarh, and is led by Partner CA Harsh Jain (Membership No. 076736).