Solitaire Machine Tools Limited reported a 43% decline in net profit to ₹1.35 crore for the financial year ended March 31, 2026, down from ₹2.35 crore in the previous year. Sales fell by 15% to ₹19.06 crore, compared to ₹22.50 crore in FY25, attributed to US trade tariff issues affecting domestic customers' expansion plans during the first two quarters. The company’s Board of Directors has recommended a dividend of ₹1.50 per share, subject to shareholder approval at the upcoming Annual General Meeting (AGM).

Financial Performance

The company’s total income for the year stood at ₹19.16 crore, a decrease from ₹23.16 crore in the prior year. Despite the decline in sales, the company remained profitable, with profit before tax standing at ₹1.92 crore. Other income dropped significantly to ₹9.00 lakh from ₹65.60 lakh in the previous year. The company did not take any additional term loans during the year and repaid term loans amounting to ₹141.81 lakh.

Operational Updates

The company completed work on its Halol plant, with all assets capitalized in January 2026, and depreciation has commenced. It procured additional assets worth approximately ₹16.50 lakh and invested ₹1.44 crore in fixed deposits, mutual funds, and bank balances for future needs. The management noted that the year 2026-27 has started with substantial improvement, with pending orders equivalent to about five months of production. The company also delivered its first grinder for a medical implements customer and secured a remanufacturing order from an overseas client.

Annual General Meeting

The 34th AGM is scheduled for June 27, 2026, at 11:00 a.m. via video conferencing. Shareholders will vote on the re-appointment of Mr. Ashok J. Sheth, who retires by rotation, and the approval of the recommended dividend. The cut-off date to determine eligibility for voting is June 20, 2026. The register of members will remain closed from June 21, 2026, to June 27, 2026. Remote e-voting will be available from June 24, 2026, to June 26, 2026.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE410A01013/97529341-dbf1-4684-8030-4ca3ac3e3de7.pdf

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):

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.

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.

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.

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).

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 .