Valencia India reported a net profit of ₹21.99 crore for the financial year ended March 31, 2026, marking a 4% increase from ₹21.13 crore in the previous year. Revenue from operations grew 16% year-on-year to ₹89.30 crore, supported by strong performance in its hospitality segment.

The Ahmedabad-based company completed its initial public offering (IPO) during the fiscal year, raising approximately ₹48.95 crore through a fresh issue and offer for sale. The equity shares were listed on the BSE SME Platform in July 2025.

Financial Performance

Revenue from operations stood at ₹89.30 crore compared to ₹76.77 crore in FY25. Total income reached ₹89.59 crore, including other income of ₹0.29 crore. The company recorded a profit before tax of ₹30.36 crore, up from ₹28.42 crore in the prior year.

Total expenses rose to ₹59.23 crore from ₹48.35 crore, primarily due to higher finance costs and employee benefits. Finance costs jumped to ₹9.32 crore from ₹2.74 crore, reflecting increased borrowing to fund capital expansion. Employee benefits expense increased to ₹13.96 crore from ₹10.10 crore.

Earnings per share (basic and diluted) declined to ₹1.84 from ₹2.35, impacted by the increase in weighted average shares outstanding following the IPO. The board did not recommend any dividend for the financial year.

Capital Expenditure and Balance Sheet

The company undertook significant capital expenditure, with purchases of property, plant, and equipment totaling ₹471.51 crore during the year. This was substantially higher than the ₹53.56 crore spent in the previous year. Capital work in progress surged to ₹268.29 crore from ₹19.54 crore, indicating ongoing expansion projects.

Total borrowings increased to ₹12.12 crore, comprising long-term debt of ₹79.13 crore and short-term borrowings of ₹42.07 crore. A new term loan of ₹50.00 crore was sanctioned by SIDBI under the MORE scheme for modernization projects. Shareholders' funds expanded significantly to ₹565.29 crore from ₹113.23 crore, driven by the IPO proceeds.

Corporate Developments

M/s Panchal S K & Associates were appointed as statutory auditors to fill a casual vacancy arising from the resignation of M/s Doshi & Doshi Co. The board proposed their re-appointment for a five-year term starting FY27. No frauds were reported by the auditors during the year.

The board composition remained unchanged, with Keyur Jitendra Patel serving as Managing Director and Dhavalkumar Kaushikkumar Chokshi as Executive Director and CFO. Mr. Prakash Deepakbhai Mahida retires by rotation at the upcoming annual general meeting and is eligible for re-appointment.

Valencia India Limited reported a net profit of ₹219.86 lakh for the financial year ended March 31, 2026, compared to ₹211.30 lakh in the previous year. Revenue from operations for FY26 stood at ₹892.98 lakh, an increase from ₹767.73 lakh in FY25. The Board of Directors approved the audited financial results for the half year and financial year ended March 31, 2026, at a meeting held on May 28, 2026.

The company's total expenses for FY26 amounted to ₹592.26 lakh, up from ₹483.50 lakh in the prior year. Profit before tax for the year was ₹303.62 lakh, slightly higher than the ₹284.23 lakh recorded in FY25. The Statutory Auditors, M/s. Panchal SK & Associates, issued an audit report with an unmodified and unqualified opinion on the standalone financial results.

In a regulatory filing, the company confirmed that there is no deviation or variation in the use of proceeds from its Initial Public Offer (IPO) for the six months ended March 31, 2026. The total amount raised through the IPO was ₹48.95 crore, with funds utilized for the development of 15 villas and a club house, as well as general corporate purposes.

The Board also appointed Mr. Prashant H. Patel as the internal auditor for the financial year 2026-27. The appointment is valid for a term of 12 months. Mr. Patel is a Chartered Accountant and the Proprietor of P H P & Associates.

Financial Results for FY26

Details of Appointment