Veritaas Advertising Limited reported its audited financial results for the half-year and financial year ended March 31, 2026, with the board of directors approving the results at a meeting held on May 13, 2026. The statutory auditors issued an unmodified opinion on the financial statements for the year ended March 31, 2026. The results were prepared in accordance with Accounting Standards prescribed under Section 133 of the Companies Act, 2013, and published pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

For the full year ended March 31, 2026, Veritaas Advertising posted total revenue of ₹1,626.80 lakh, compared to ₹1,535.90 lakh in the previous year. Revenue from operations stood at ₹1,475.17 lakh, while other income contributed ₹151.63 lakh. Total expenses for the year increased to ₹1,375.10 lakh from ₹1,322.98 lakh in the prior year. Net profit for the year rose to ₹179.37 lakh from ₹147.81 lakh, and profit before exceptional items and tax was recorded at ₹251.70 lakh. Basic and diluted earnings per share (EPS) increased to ₹6.35 from ₹5.24 in the previous year.

The table below presents the key financial figures for the year and half-year periods:

Balance Sheet Highlights

As at March 31, 2026, the company's total assets and total equity and liabilities stood at ₹2,693.03 lakh, compared to ₹2,268.21 lakh as at March 31, 2025. Share capital remained unchanged at ₹282.30 lakh, while reserves and surplus increased to ₹1,079.92 lakh from ₹900.55 lakh. Short-term borrowings rose to ₹691.00 lakh from ₹495.23 lakh, and long-term borrowings increased to ₹141.92 lakh from ₹72.57 lakh. On the assets side, intangible assets grew to ₹702.32 lakh from ₹516.83 lakh, and short-term loans and advances rose significantly to ₹435.64 lakh from ₹207.74 lakh.

Cash Flow Summary

For the year ended March 31, 2026, net cash flow from operating activities was ₹110.65 lakh, compared to a net outflow of ₹123.69 lakh in the previous year. Net cash used in investing activities was ₹275.22 lakh, while net cash from financing activities was ₹181.40 lakh. Cash and cash equivalents at the end of the year stood at ₹61.84 lakh, compared to ₹45.01 lakh at the start of the year.

Auditor Changes and Board Decisions

Alongside the financial results, the board accepted the resignation of M/s. A A A J & Associates as statutory auditors, effective May 13, 2026, citing pre-occupancy due to increased demands from new assignments. The firm had been appointed pursuant to a shareholders' resolution dated December 4, 2023, for a term of five years until the conclusion of the Annual General Meeting in 2029, and completed the audit of financial statements for the year ended March 31, 2026, prior to resignation. M/s. K.R.Sriram & Co., Chartered Accountants (FRN: 323146E), was appointed to fill the casual vacancy, subject to member approval. The firm brings over 16 years of experience in conducting internal and statutory audits across diverse industries. Additionally, M/s. B.L.Dubey & Associates, Chartered Accountants (FRN: 317130E), was appointed as internal auditor for the financial year 2026-27.

IPO Proceeds Utilisation

The board noted that there were no deviations or variations in the utilisation of proceeds from the company's Initial Public Offering during the period ended March 31, 2026. As per the prospectus dated May 16, 2024, the total original allocation was ₹723.00 lakh, of which ₹689.11 lakh had been utilised. Of the ₹60.00 lakh allocated for funding capital expenditure in Pole Kiosks for setting up traffic signal point displays in Kolkata, Mumbai, and Pune, ₹26.11 lakh was utilised, leaving ₹33.89 lakh unutilised. Allocations for police booths (₹526.75 lakh) and general corporate purposes (₹136.25 lakh) were fully utilised. The board meeting commenced at 6:30 pm and concluded at 10:15 pm.