Space Incubatrics Technologies Limited reported a net loss of ₹36.88 lakh for the financial year ended March 31, 2026, on a total income of ₹3,104.23 lakh. For the quarter ended March 31, 2026, the company recorded a net loss of ₹970.11 lakh, compared to a profit of ₹5.02 lakh in the corresponding quarter of the previous year. Revenue from operations for the quarter stood at ₹1,062.50 lakh, while total expenses surged to ₹2,033.82 lakh, primarily driven by a purchase of stock-in-trade amounting to ₹2,010.25 lakh.

The Board of Directors approved the audited standalone financial results for the quarter and year ended March 31, 2026, at a meeting held on May 25, 2026. The statutory auditor, VRSK & Associates, issued a qualified opinion, stating that the financial statements may not give a true and fair view due to the non-provision of interest on loans and non-compliance with Indian Accounting Standards. The auditor also expressed a qualified opinion on the adequacy and operating effectiveness of the company's internal financial controls over financial reporting.

Financial Performance

The company's financial statements for FY26 revealed a significant shift in asset composition. Non-current investments rose sharply to ₹2,910.96 lakh from ₹50.00 lakh in the previous year, while borrowings increased to ₹2,121.04 lakh from ₹113.65 lakh. Cash and cash equivalents improved to ₹53.87 lakh as of March 31, 2026, up from ₹20.95 lakh in the prior year. The auditor noted that the company has defaulted on loan repayments, leading to the initiation of Corporate Insolvency Resolution Process (CIRP) proceedings by a lender.

Key Financial Metrics (in ₹ Lakh)

Space Incubatrics Technologies Limited has announced board restructuring involving director resignations effective April 17, 2026. The Board of Directors approved these changes during a meeting held on Friday, April 17, 2026, which commenced at 06:15 p.m. and concluded at 06:45 p.m. The disclosure was made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Director Resignations

Mr. Rajender Parsad (DIN: 10871533) resigned as Executive Director of the company effective April 17, 2026, citing personal and unavoidable reasons. The company received confirmation from Mr. Parsad that there are no material reasons for his resignation other than those provided in his resignation letter. He holds directorship in Johnson Pharmacare Limited (Category: Professional).

Mr. Umesh Kumar (DIN: 07015921) resigned as Non-Executive & Non-Independent Director effective April 17, 2026, also citing personal and unavoidable reasons. The company confirmed receipt of his resignation letter and verified that there are no other material reasons for his resignation. He holds directorship in Johnson Pharmacare Limited (Category - Professional).

Resignation Details Summary

Regulatory Compliance

The disclosure was signed by Parul Agrawal, Additional Director (DIN: 11268580), on behalf of the Board of Directors on April 22, 2026. Both resigning directors submitted formal resignation letters on April 17, 2026, confirming no material reasons beyond personal circumstances. The company will comply with all necessary formalities under the Companies Act, 2013, and LODR regarding these resignations.

Company Information

Space Incubatrics Technologies Limited is registered at Desk No.A 41 D-9 Ground floor Sector-3, Gautam Buddha Nagar, Noida, Uttar Pradesh, India, with CIN L17100UP2016PLC084473. The company's scrip code on BSE Limited is 541890 and ISIN is INE797Z01028.