Vapi Enterprise FY26 net profit rises 13.6% to ₹149.45 lakh
Vapi Enterprise reported a 13.6% rise in FY26 net profit to ₹149.45 lakh, with total income increasing to ₹240.57 lakh. The board approved the audited results on May 26, 2026, while auditors flagged non-compliance with IndAS-19 and uncertainties regarding an electricity deposit and future business plans.
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Vapi Enterprise reported a net profit of ₹149.45 lakh for the financial year ended March 31, 2026, an increase of 13.6% from ₹131.55 lakh in the prior year. The company’s total income for FY26 rose to ₹240.57 lakh compared to ₹218.15 lakh in FY25. For the quarter ended March 31, 2026, the net profit was recorded at ₹41.54 lakh.
The Board of Directors approved the standalone audited financial results for the quarter and year ended March 31, 2026, at a meeting held on May 26, 2026. The results were reviewed by the board and audited by the statutory auditors, M I Shah And Co, Chartered Accountants. The company published the audited financial results in newspapers Financial Express and Pratahkal on May 28, 2026, pursuant to Regulation 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The statutory auditors issued a report with a modified opinion, highlighting specific areas of concern. The report noted that the company did not comply with Indian Accounting Standard (IndAS-19) regarding Employee Benefits, specifically concerning the non-provisioning of employee benefits. Additionally, the auditors stated they were unable to form an opinion on certain obligations, including a deposit of ₹2,14,04,744 made against an electricity department's demand, which is currently under appeal before the Hon'ble High Court of Gujarat.
The auditors also drew attention to the sale of the company's factory land and the management's efforts to identify new business opportunities. As of the report date, no definitive business plan had been finalized. However, the management prepared the financial statements on a going concern basis, citing the company's positive net worth position.
Regarding internal controls, the auditors reported that the company utilized accounting software lacking an audit trail (edit log) facility, a feature required under the Companies (Audit and Auditors) Rules, 2014. The financial statements were prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34.
Financial Results for FY26
| Particulars | For the year ended 31.03.2026 (₹ in Lacs) | For the year ended 31.03.2025 (₹ in Lacs) |
|---|---|---|
| Total Income | 240.57 | 218.15 |
| Total Expenses | 44.42 | 42.16 |
| Profit before tax | 197.86 | 174.79 |
| Total Tax Expenses | 48.41 | 43.24 |
| Net Profit | 149.45 | 131.55 |
| Earnings Per Share (Basic) | 6.55 | 5.77 |
Historical Stock Returns for Vapi Enterprise
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.99% | +5.21% | -9.82% | -14.26% | -26.65% | +573.78% |
What are the potential financial impacts if the Gujarat High Court rules against Vapi Enterprises regarding the ₹2.14 crore electricity deposit appeal?
How will the company address the non-compliance with IndAS-19 regarding employee benefits in future financial reporting?
What specific new business opportunities is management targeting to replace the revenue stream lost from the factory land sale?
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