Simplex Infrastructures Limited reported a significant surge in consolidated net profit to ₹4,044 lakh for the financial year ended March 31, 2026, compared to ₹1,206 lakh in the previous year. The board approved the audited standalone and consolidated financial results for the fourth quarter and the full year at its meeting held on May 28, 2026. The company also re-appointed M/s. Mukesh Kumar & Associates, Cost Accountants, as Cost Auditors for FY 2026-2027.

Financial Performance

The company's consolidated revenue from operations for FY26 stood at ₹1,02,119 lakh, a decrease from ₹1,07,560 lakh in FY25. For the quarter ended March 31, 2026, consolidated net profit stood at ₹1,880 lakh, while standalone net profit was ₹2,043 lakh. The board also approved the Board's Report for the financial year ended March 31, 2026 and the notice for the Annual General Meeting scheduled on September 23, 2026.

The following table summarises the key annual financial metrics:

Q4 Performance

On a year-on-year basis, the company's quarterly results reflected mixed trends. Q4 consolidated net profit declined to ₹190M from ₹434M in the same period of the previous year, while Q4 revenue grew marginally to ₹2.83B from ₹2.8B. However, operational profitability improved meaningfully, with EBITDA rising to ₹216M from ₹151M year-on-year, and EBITDA margin expanding to 7.60% from 5.30%.

Operational Highlights

The board recommended the approval of remuneration payable to Mr. Gurumurthy Ramanathan, Non-Executive Nominee Director, at the ensuing annual general meeting. The company executed a Master Restructuring Agreement (MRA) with National Asset Reconstruction Company Limited (NARCL), subsequent to which a major portion of non-assigned debts have been settled. The company is in discussion for settlement with the remaining non-assigned lender.

Debt and Audit

The company reported an outstanding default on loans amounting to ₹4,616 lakh as on March 31, 2026, which is under negotiation for a one-time settlement. The statutory auditors, Binayak Dey & Co., issued an unmodified opinion on the financial results.

Simplex Infrastructures Limited has submitted its Monitoring Agency Report for the quarter ended March 31, 2026, to the National Stock Exchange of India Limited, BSE Limited, and Calcutta Stock Exchange Limited. The filing, dated May 08, 2026, was made pursuant to Regulation 32 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and Regulation 162A(4) of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report covers the utilisation of proceeds from the company's preferential issue of equity shares and convertible warrants, with CARE Ratings Limited serving as the designated Monitoring Agency under a Monitoring Agency Agreement dated February 05, 2025.

Issue Overview and Fund Receipt

The preferential issue, which ran from May 26, 2025, to May 29, 2025, had a total issue size of Rs.423.69 crore, comprising two objects: working capital requirements of Rs.318.69 crore and general corporate purposes of Rs.105.00 crore. Funds were raised in two tranches — Rs.262.84 crore on May 29, 2025 (comprising Rs.209.22 crore from equity shares and Rs.53.62 crore as 25% upfront consideration from warrants), and Rs.18.75 crore on July 21, 2025, upon conversion of 865,052 warrants into equity shares on receipt of the balance 75% consideration. The total amount received as of March 31, 2026, stood at Rs.281.59 crore.

Utilisation of Proceeds — Q4FY26

During the quarter ended March 31, 2026, Simplex Infrastructures utilised Rs.46.42 crore in aggregate across both objects. The cumulative utilisation at the end of the quarter reached Rs.172.88 crore, leaving an unutilised balance of Rs.108.71 crore. The following table provides a detailed breakdown of fund utilisation progress:

Note: Working capital closing balance of Rs.125.32 crore includes fixed deposits pledged against Bank Guarantees/EMD of Rs.19.64 crore.

The working capital utilisation during Q4FY26 was directed towards salary expenses (Rs.3.42 crore), payment to sub-contractors and suppliers (Rs.21.36 crore), EMD (Rs.8.40 crore), GST and TDS payments (Rs.4.22 crore), bank guarantee commission (Rs.0.17 crore), and various administrative expenses (Rs.0.09 crore). General corporate purpose utilisation of Rs.8.76 crore covered salary expenses (Rs.3.35 crore), payments to sub-contractors and suppliers (Rs.3.21 crore), payment of legal expenses (Rs.1.99 crore), bank guarantee commission (Rs.0.18 crore), and various administrative expenses (Rs.0.03 crore). The Monitoring Agency noted that salary expenses are allocated under both working capital and general corporate purposes — expenses related to closed contracts are categorised under general corporate purposes, while those associated with ongoing contracts are classified under working capital.

Cumulative Utilisation Trend

The quarter-wise utilisation progress for both objects since the commencement of the issue is as follows:

The working capital object is to be utilised within 24 months from the realisation of funds (July 17, 2025), i.e., by July 17, 2027. The general corporate purpose object is linked to warrant conversion timelines, with a maximum utilisation date not exceeding November 28, 2028. The Monitoring Agency confirmed no delay in implementation for either object.

Deployment of Unutilised Proceeds

The unutilised amount of Rs.108.71 crore has been deployed in fixed deposits and a current account with Punjab National Bank. The fixed deposits carry return on investment rates of 6.25% and 5.00%, with maturity dates ranging from June 14, 2026, to November 06, 2026. The market value of these instruments at the end of the quarter was reported at Rs.115.62 crore, with interest income on fixed deposits amounting to Rs.6.91 crore.

Monitoring Agency Observations and Key Flags

CARE Ratings Limited confirmed that all utilisation is as per the disclosures in the offer document, with no material deviations observed and no change in the means of finance. However, the Monitoring Agency flagged two notable observations:

• Share Price vs. Warrant Conversion Price: The share price has fallen below the warrant conversion price as per the offer document, which may hinder warrant conversion.
• Credit Rating: The company is rated CARE D; INC by CARE Ratings, indicating ongoing delays in debt servicing obligations.

All government and statutory approvals, including in-principal approval, listing approval, and trading approval, have been obtained. The Monitoring Agency's report is supported by a Chartered Accountant certificate from Binayak Dey & Co., dated April 30, 2026.

Deviation or Variation Statement

In accordance with Regulation 32 of the SEBI (LODR) Regulations, 2015, Simplex Infrastructures has also filed a Statement on Deviation or Variation (Annexure-B). The statement confirms that there is no deviation or variation in the use of funds raised through the preferential issue. The Audit Committee has reviewed the statement and offered no comments, and the auditors have similarly raised no comments. The filing was signed by B.L. Bajoria, Senior Vice President and Company Secretary, on May 08, 2026, from Kolkata.