Tirupati Sarjan reported a net profit of ₹474.2 lakh for the financial year ended March 31, 2026, a decline of 8% from the previous year’s ₹515.0 lakh. Total income stood at ₹21,925.7 lakh, down from ₹22,325.1 lakh in FY25.

The company’s 31st Annual General Meeting is scheduled for September 30, 2026. Directors recommended retaining earnings for future operations rather than declaring a dividend.

Financial Performance

Revenue from operations decreased slightly to ₹21,626.7 lakh in FY26, compared to ₹22,046.1 lakh in the prior year. Other operating income rose to ₹146.1 lakh from ₹120.8 lakh, while other finance income dipped marginally to ₹152.8 lakh.

Finance costs dropped significantly to ₹390.8 lakh from ₹520.9 lakh, driven by lower interest expenses on borrowings. However, construction expenses increased to ₹11,578.4 lakh from ₹10,867.8 lakh, pressuring margins. Depreciation remained stable at ₹114.5 lakh.

Balance Sheet Signals

Total assets declined to ₹18,617.7 lakh from ₹19,532.3 lakh. Non-current assets rose slightly to ₹9,126.0 lakh, while current assets fell to ₹9,491.7 lakh. Inventories decreased to ₹6,121.2 lakh from ₹6,790.1 lakh, indicating better stock management or project completion.

Gross debt stood at ₹4,040.4 lakh, down from ₹4,731.3 lakh in FY25. Cash and cash equivalents were ₹416.5 lakh. The debt-to-equity ratio improved to 0.43 from 0.53, reflecting a stronger capital structure.

What the Numbers Show

While revenue remained relatively flat, the significant reduction in finance costs helped cushion the impact of rising construction expenses. The decline in trade receivables to ₹2,641.1 lakh from ₹3,186.3 lakh suggests improved collection efficiency, contributing to better working capital dynamics despite lower overall profitability.

Corporate Governance

Mr. Ruchir Rushikeshbhai Patel retires by rotation at the AGM and offers himself for re-appointment. The board also seeks approval to regularize Mr. Bharat Trivedi as an Independent Director for five years. No dividends were declared for FY26.

Tirupati Sarjan Limited accepted the resignation of Mr. Jaydeep Dahyabhai Prajapati as an independent director effective September 1, 2026. The company cited pre-occupation in other activities as the reason for his departure.

The resignation was effective from the close of business hours on September 1, 2026. Mr. Prajapati (DIN: 11121076) confirmed that there were no material reasons for his resignation other than those mentioned in his letter.

Board Changes

The board approved the following actions based on recommendations from the Nomination and Remuneration Committee during its meeting on Tuesday, September 1, 2026:

• Reappointment of Mr. Ruchir Rushikeshbhai Patel (DIN: 03185133) as a director. He retires by rotation and has offered himself for reappointment.
• Resignation of Mr. Jaydeep Dahyabhai Prajapati (DIN: 11121076), an independent director, effective September 1, 2026.
• Appointment of Mr. Bharat Trivedi (DIN: 07820494) as an additional director categorized as an independent director.

These decisions are subject to approval by members at the company’s 31st Annual General Meeting.

Regulatory Compliance

The disclosure was made pursuant to Regulation 30(6) read with Schedule III of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company also referenced SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Details regarding the appointments and resignation were enclosed as Annexure A and Annexure B in the filing to BSE Limited.