Solitaire Machine Tools Reports FY26 Audited Results, Recommends Rs. 1.5/- Final Dividend
Solitaire Machine Tools Limited reported FY26 audited net profit of Rs. 134.51 lakhs on revenue of Rs. 1,906.56 lakhs, with the board recommending a Rs. 1.5/- per share final dividend and scheduling the 34th AGM for June 27, 2026. The company subsequently filed newspaper advertisements under Regulation 47 on May 11, 2026, publishing the financial results extract in the Financial Express (English and Gujarati editions). Operating cash flows improved significantly to Rs. 511.46 lakhs from Rs. 222.52 lakhs in the prior year.
*this image is generated using AI for illustrative purposes only.
The Board of Directors of Solitaire Machine Tools Limited, at their meeting held on May 9, 2026, considered and approved the standalone audited financial results for the quarter and year ended March 31, 2026, under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The board also approved the statement of Assets & Liabilities and Cash Flow Statement for the year ended March 31, 2026, along with the Independent Auditor's Report issued by statutory auditor M/s. K C Mehta & Co. LLP, Vadodara, which carries an unmodified opinion. Subsequently, pursuant to Regulation 47 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company submitted copies of the extract of audited financial results to BSE Limited on May 11, 2026, confirming publication in both the Financial Express – English edition and Financial Express – Gujarati edition.
FY26 Financial Performance
Solitaire Machine Tools reported a net profit of Rs. 134.51 lakhs for the year ended March 31, 2026, compared to Rs. 234.54 lakhs in the previous year. Revenue from operations stood at Rs. 1,906.56 lakhs, against Rs. 2,250.17 lakhs in the prior year. Total income for the year came in at Rs. 1,915.56 lakhs versus Rs. 2,315.77 lakhs previously. Profit before tax for the year was Rs. 191.89 lakhs, compared to Rs. 314.22 lakhs in the year-ago period. Total comprehensive income for the year was Rs. 140.50 lakhs, against Rs. 236.35 lakhs in the prior year.
The following table summarises the key financial results (Rs. in Lakhs):
| Metric: | Q4 FY26 (Audited) | Q3 FY26 (Unaudited) | Q4 FY25 (Audited) | FY26 (Audited) | FY25 (Audited) |
|---|---|---|---|---|---|
| Revenue from Operations: | 838.59 | 359.35 | 704.15 | 1,906.56 | 2,250.17 |
| Other Income: | 4.32 | 5.34 | 32.98 | 9.00 | 65.60 |
| Total Income: | 842.91 | 364.70 | 737.13 | 1,915.56 | 2,315.77 |
| Total Expenses: | 740.57 | 318.50 | 639.95 | 1,723.67 | 2,001.56 |
| Profit Before Tax: | 102.33 | 46.20 | 97.18 | 191.89 | 314.22 |
| Net Profit: | 67.84 | 33.36 | 71.03 | 134.51 | 234.54 |
| Total Comprehensive Income: | 69.72 | 36.56 | 80.23 | 140.50 | 236.35 |
| Basic EPS (₹): | 1.49 | 0.73 | 1.56 | 2.96 | 5.16 |
| Diluted EPS (₹): | 1.49 | 0.73 | 1.56 | 2.96 | 5.16 |
Balance Sheet Highlights
As at March 31, 2026, the company's total assets stood at Rs. 2,877.05 lakhs, compared to Rs. 2,922.51 lakhs in the previous year. Total equity increased to Rs. 2,010.91 lakhs from Rs. 1,961.26 lakhs, supported by equity share capital of Rs. 454.22 lakhs and other equity of Rs. 1,556.69 lakhs. Non-current liabilities declined to Rs. 310.27 lakhs from Rs. 459.66 lakhs, reflecting a reduction in long-term borrowings from Rs. 413.94 lakhs to Rs. 272.13 lakhs. Current liabilities rose to Rs. 555.88 lakhs from Rs. 501.59 lakhs.
| Balance Sheet Parameter: | 31st March, 2026 (Rs. in Lakhs) | 31st March, 2025 (Rs. in Lakhs) |
|---|---|---|
| Total Non-Current Assets: | 1,736.51 | 1,731.83 |
| Total Current Assets: | 1,140.55 | 1,190.67 |
| Total Assets: | 2,877.05 | 2,922.51 |
| Total Equity: | 2,010.91 | 1,961.26 |
| Total Non-Current Liabilities: | 310.27 | 459.66 |
| Total Current Liabilities: | 555.88 | 501.59 |
| Total Equity and Liabilities: | 2,877.05 | 2,922.51 |
Cash Flow Summary
The company reported a significant improvement in operating cash flows for the year ended March 31, 2026. Net cash flow from operating activities rose to Rs. 511.46 lakhs from Rs. 222.52 lakhs in the prior year, driven by improved working capital management, including a reduction in trade receivables. Net cash used in investing activities was Rs. 208.05 lakhs, compared to Rs. 469.46 lakhs previously. Net cash used in financing activities was Rs. 237.16 lakhs, which included dividend payments of Rs. 87.04 lakhs and repayment of borrowings of Rs. 141.80 lakhs. Cash and cash equivalents at the end of the year stood at Rs. 131.79 lakhs, up from Rs. 65.54 lakhs at the beginning of the period.
| Cash Flow Parameter: | FY26 (Rs. in Lakhs) | FY25 (Rs. in Lakhs) |
|---|---|---|
| Net Cash from Operating Activities: | 511.46 | 222.52 |
| Net Cash from Investing Activities: | (208.05) | (469.46) |
| Net Cash from Financing Activities: | (237.16) | 271.03 |
| Net Increase in Cash & Equivalents: | 66.25 | 24.09 |
| Closing Cash & Cash Equivalents: | 131.79 | 65.54 |
Final Dividend Recommended for FY26
The board recommended a final dividend for the financial year ended March 31, 2026, subject to approval by shareholders at the ensuing Annual General Meeting.
| Parameter: | Details |
|---|---|
| Dividend per Share: | Rs. 1.5/- (15%) |
| Face Value per Share: | Rs. 10/- |
| Subject to: | Shareholder approval at AGM |
| Financial Year: | Ended March 31, 2026 |
34th Annual General Meeting Scheduled
The board fixed the date, time, and mode for the 34th Annual General Meeting, which will be conducted through Video Conference / Other Audio Video Means (VC / OAVM).
| Parameter: | Details |
|---|---|
| AGM Date: | Saturday, June 27, 2026 |
| Time: | 11:00 a.m. |
| Mode: | Video Conference / VC / OAVM |
| Book Closure: | June 21, 2026 to June 27, 2026 (both days inclusive) |
Key Board Decisions at a Glance
The board approved and acted upon several additional items during the meeting:
- Auditor's Report: The Independent Audit Report on audited financial results for the year ended March 31, 2026 was taken on record, with an unmodified opinion issued by the statutory auditor.
- Internal Auditor Appointment: M/s. Jain & Hindocha, Chartered Accountants, Vadodara, was appointed as internal auditor of the company for the financial year 2026-27.
- Board's Report: The Board's Report along with annexures for the year ended March 31, 2026 was approved.
- Scrutinizer Appointment: Mr. Hemang Mehta, Practicing Company Secretary, Vadodara, was appointed as scrutinizer for remote e-voting and e-voting during the 34th AGM.
- Labour Code Impact: The company estimated an additional impact of Rs. 7.55 lakhs towards gratuity in the financial results for the year ended March 31, 2026, following the Government of India's notification of four new Labour Codes on November 21, 2025.
- Segment Information: The company operates in a single reportable business segment — manufacturer and remanufacturer of centreless grinding machines and its spare parts — as per Ind AS 108.
All relevant disclosures, including the audited financial results, statement of Assets and Liabilities, Cash Flow Statement, and the Independent Audit Report, have been submitted as enclosures to the stock exchange filing. The extract of audited financial results was published on May 11, 2026 in the Financial Express (English and Gujarati editions), and the above information is also hosted on the company's website at www.smtgrinders.com .
Historical Stock Returns for Solitaire Machine Tools
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -3.48% | 0.0% | 0.0% | 0.0% | 0.0% | +336.92% |
Given the ~43% decline in net profit and ~15% drop in revenue for FY26, what strategic initiatives is Solitaire Machine Tools planning to reverse the downward trend and restore growth in FY27?
With long-term borrowings reduced significantly and operating cash flows more than doubling, how might the company deploy its strengthened balance sheet — through capacity expansion, new product lines, or acquisitions — to drive future revenue growth?
As the Government of India's four new Labour Codes begin to take full effect, how significantly could the cumulative compliance costs beyond the estimated Rs. 7.55 lakhs impact Solitaire's profitability and cost structure in FY27 and beyond?
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