Tacent Projects Limited reported a net profit of ₹1.17 lakh for the financial year ended March 31, 2026, marking a recovery from a net loss of ₹3.70 lakh in FY25. The turnaround was driven by a sharp reduction in operating expenses despite a significant decline in revenue.

Revenue from operations contracted by approximately 97% to ₹10.25 lakh, down from ₹335.44 lakh in the previous year. This decline reflects a strategic shift away from high-volume trading activities, which had accounted for the bulk of prior-year income through stock-in-trade purchases of ₹326.86 lakh.

What the Numbers Show

The company’s profitability was achieved primarily through cost containment rather than revenue generation. Total expenses fell to ₹9.08 lakh from ₹339.14 lakh in FY25. Notably, purchase of stock-in-trade dropped to zero, while other operating expenses—including listing fees and miscellaneous costs—remained relatively stable at ₹8.60 lakh. This indicates that fixed overheads now constitute the majority of the company’s cost structure.

Balance Sheet Signals

The balance sheet shows a reduction in total assets to ₹142.52 lakh from ₹393.37 lakh in FY25. Trade receivables decreased significantly to ₹141.64 lakh, while cash and cash equivalents stood at just ₹0.17 lakh. Current liabilities were reduced to ₹166.88 lakh, with borrowings increasing slightly to ₹37.04 lakh. The company maintains a negative net worth position but continues to meet its obligations.

The Board did not recommend any dividend for FY26, opting to conserve resources for future operations. The company also announced plans to increase its authorized share capital and issue fully convertible warrants to strengthen its capital base.

Tacent Projects Limited has reported a return to profitability for the financial year ended March 31, 2026, recording a net profit after tax (PAT) of ₹1.17 lakh. This marks a significant turnaround from the net loss of ₹3.70 lakh incurred in FY25. The earnings per share (EPS) improved to ₹0.03, compared to a loss of ₹0.10 per share in the prior period.

Despite the bottom-line improvement, the company’s topline contracted significantly. Revenue from operations stood at ₹10.25 lakh in FY26, down from ₹335.44 lakh in FY25. The sharp decline in revenue was driven by a cessation of goods sales, which accounted for the bulk of previous-year income, while commission income contributed ₹10.25 lakh in the current year. Total expenses decreased to ₹9.08 lakh from ₹339.14 lakh, aligning with the reduced operational scale.

Capital Raise and Corporate Actions

In a separate development, the Board of Directors, meeting on August 11, 2026, approved a preferential issue aggregating up to ₹15.4 crore to strengthen its capital base. The raise comprises two components:

• Equity Shares: Up to 34,00,000 equity shares of face value ₹10 each, totaling ₹3.40 crore, offered to 16 identified public (non-promoter) investors.
• Fully Convertible Warrants (FCWs): Up to 1,15,87,750 FCWs at ₹10 each, totaling ₹11.58 crore, targeted at both promoter and public investors.

The issue price of ₹10 per share/warrant is based on a valuation report dated August 11, 2026, by Mr. Subodh Kumar, which determined a fair value of ₹9.14 per equity share. The FCWs carry a conversion window of 18 months, with 25% of the issue price payable at allotment and the remaining 75% upon exercise.

Additionally, shareholders will vote on increasing the authorized share capital from ₹10 crore to ₹22 crore at the 33rd Annual General Meeting scheduled for September 10, 2026. This includes an increase in equity shares from 80 lakh to 2 crore units.

Leadership Changes

The Board also elevated Mr. Neeraj Chaudhary to the role of Whole-time Director, effective August 11, 2026, for a five-year tenure. He was initially appointed as an Additional Director on July 31, 2026. His regularization and redesignation require shareholder approval at the upcoming AGM.

What the Numbers Show

The post-allotment shareholding pattern indicates a consolidation of promoter interests. Promoter holding is projected to rise from 56.65% to 61.43% following the full conversion of warrants, while public holding dilutes from 43.35% to 38.57%. This structure suggests that the capital raise is primarily driven by promoter participation via the FCW tranche, reinforcing insider confidence while bringing in new public equity capital through direct share issuance.

Financially, the company’s balance sheet reflects total assets of ₹142.52 lakh as of March 31, 2026, down from ₹393.37 lakh in the previous year. Trade receivables declined significantly to ₹141.64 lakh from ₹392.46 lakh, indicating improved collection or reduced outstanding dues relative to the lower revenue base. Borrowings increased slightly to ₹37.04 lakh from ₹31.50 lakh, primarily comprising unsecured loans from related parties.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE149D01011/e88105e0-129e-4f4d-81f3-1196196eeb28.pdf