Srigee DLM AGM Sept 30 to approve ₹424 lakh IPO fund shift
- Srigee DLM schedules AGM on September 30, 2026, to approve reallocation of ₹424.40 lakh unutilised IPO proceeds.
- FY26 standalone PAT rose 37.16% YoY to ₹686.72 lakh, driven significantly by a one-time profit on asset sales.
- Revenue from operations grew marginally by 1.5% to ₹7,230.50 lakh in FY26.
- Company has utilised 50.19% of its May 2025 IPO proceeds as on August 31, 2026.
*this image is generated using AI for illustrative purposes only.
Srigee DLM has scheduled its 21st Annual General Meeting for September 30, 2026, to seek shareholder approval for reallocating ₹424.40 lakh of unutilised IPO proceeds towards setting up a new manufacturing facility.
The company reported a 37.16% year-on-year increase in standalone net profit after tax (PAT) to ₹686.72 lakh for FY26, up from ₹500.66 lakh in the previous year. The growth was supported by a 6.15% rise in total income to ₹7,575.63 lakh, driven by higher revenue from operations of ₹7,230.50 lakh.
Financial Performance Highlights
Revenue from operations grew marginally to ₹7,230.50 lakh in FY26 from ₹7,123.39 lakh in FY25. However, other income saw a significant surge to ₹345.13 lakh, compared to just ₹13.46 lakh in the prior year, primarily due to a profit on the sale of assets amounting to ₹259.61 lakh.
Total expenses rose by 4.95% to ₹6,807.45 lakh. Despite this, profit before tax expanded by 18.14% to ₹768.18 lakh. The effective tax rate decreased, with current tax expenses falling to ₹114.63 lakh from ₹165.41 lakh, aided by deferred tax credits.
| Metric | FY26 (₹ Lakh) | FY25 (₹ Lakh) | Change |
|---|---|---|---|
| Revenue from Operations | 7,230.50 | 7,123.39 | +1.5% |
| Total Income | 7,575.63 | 7,136.85 | +6.15% |
| Profit Before Tax | 768.18 | 650.24 | +18.14% |
| Net Profit After Tax | 686.72 | 500.66 | +37.16% |
Capital Allocation Shift
The board approved shifting partial surplus funds to fund increased requirements for the new facility at Plot No. R-11A, Integrated Industrial Township, Greater Noida. This transfer addresses higher-than-expected costs for the new unit, utilizing surplus funds identified under the machinery acquisition object. The overall IPO proceeds remain unchanged.
As on August 31, 2026, the company had utilised ₹852.06 lakh (50.19%) of the total net proceeds of ₹1,697.65 lakh raised in its May 2025 IPO. The unutilised amount of ₹424.40 lakh is being shifted from the "Acquisition of machineries" object, which had ₹833.00 lakh remaining, to meet the increased fund requirement for the manufacturing facility setup.
| IPO Object | Amount (Lakh) | Status |
|---|---|---|
| Machinery Acquisition | 833.00 | Surplus identified |
| Reallocation to New Plant | 424.40 | Approved by Board |
Corporate Governance Updates
The 21st Annual General Meeting will be held on Wednesday, September 30, 2026, at 11:00 am at Plot 39 and 40, Udyog Vihar Extension, Ecotech II, Greater Noida. Key agenda items include:
- Adoption of Audited Financial Statements for FY26.
- Re-appointment of Mrs. Suchitra Singh as Whole-Time Director & CFO.
- Approval of the special resolution for variation in IPO objects.
The record date for shareholders is September 23, 2026. Remote e-voting will run from September 26 to September 29, 2026. Himanshu SK Gupta & Associates has been appointed as the scrutinizer for the voting process. The Board’s Report and Annual Report for FY26 have also been approved.
What the Numbers Show
The significant jump in PAT (37.16%) outpaced the modest growth in revenue from operations (1.5%), indicating that the profit expansion was largely driven by non-operational factors. Specifically, other income surged to ₹345.13 lakh from ₹13.46 lakh, largely due to a one-time profit on asset sales of ₹259.61 lakh. This suggests that while core operational growth remains steady, recent profitability gains were bolstered by exceptional items rather than purely operational efficiency improvements.
Historical Stock Returns for Srigee DLM
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -9.49% | +0.06% | -7.23% | +23.75% | -43.78% | -61.01% |
How will the reallocation of ₹424.40 lakh from machinery acquisition to the new Greater Noida facility impact the timeline for operational readiness and future capacity expansion?
Given that the 37% PAT growth was largely driven by a one-time asset sale, what is the projected organic revenue growth rate for FY27 excluding these exceptional items?
Will the increased capital expenditure for the new manufacturing unit necessitate additional debt financing or dilutive equity raises, given that only ~50% of IPO proceeds have been utilized?
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