Victoria Mills reported a net profit of ₹666.25 lakh for the fiscal year ended March 31, 2026, an 11-fold increase from ₹55.43 lakh in FY25. Revenue from operations grew 76% to ₹5,275.00 lakh, driven by property sales. The 113th Annual General Meeting (AGM) is scheduled for September 25, 2026.

The Board has recommended a dividend of 50% per equity share. Shareholders will also vote on a special resolution to increase the threshold for loans, guarantees, and investments under Section 186 of the Companies Act, 2013, up to ₹100 crore. The meeting will be held via video conference.

Financial Performance

Total income rose to ₹5,562.52 lakh from ₹3,049.52 lakh in FY25. This growth was supported by higher operating revenue and a substantial increase in other income, which jumped to ₹287.52 lakh from ₹54.52 lakh. Other income included gains on mutual fund investments and profit on redemption of units.

Total expenses stood at ₹4,715.01 lakh, compared to ₹2,951.62 lakh in the prior year. Cost of materials consumed accounted for the largest share at ₹4,316.55 lakh. Depreciation expenses decreased slightly to ₹10.25 lakh from ₹12.11 lakh.

What the Numbers Show

The surge in net profit was significantly aided by non-operating factors. While revenue from operations grew by ₹2,280 lakh, other income contributed an additional ₹233 lakh to the top line. Notably, the statement of profit and loss includes a write-back of excess provisions amounting to ₹109.26 lakh under other income. This single item constitutes approximately 16% of the total reported net profit, indicating that the bottom-line improvement is partly driven by accounting adjustments rather than purely operational efficiency.

Balance Sheet and Cash Position

As of March 31, 2026, the company held cash and cash equivalents of ₹143.22 lakh, up from ₹55.45 lakh in the previous year. Total current assets decreased to ₹5,322.72 lakh from ₹6,885.65 lakh, primarily due to a reduction in inventories (work-in-progress and property held as stock-in-trade) to ₹2,444.22 lakh from ₹4,199.45 lakh. This decline in inventory aligns with the recognition of higher revenue from property sales during the period.

Total equity increased to ₹7,161.20 lakh from ₹6,570.88 lakh. The company had no outstanding loans or borrowings from banks or financial institutions during the year, maintaining a debt-free balance sheet.

Corporate Governance and AGM Details

The 113th Annual General Meeting will be held via video conferencing on September 25, 2026. Shareholders will vote on the re-appointment of Mrs. Mamta Mangaldas as a director, who retires by rotation. The company also transferred 3,370 shares to the Investor Education and Protection Fund (IEPF) for unpaid dividends remaining unclaimed for seven consecutive years.

Statutory auditors Vasani & Thakkar issued an unmodified opinion on the financial statements, confirming compliance with Indian Accounting Standards (Ind AS). No frauds were reported by the auditors or secretarial auditors during the fiscal year.

Victoria Mills reported a net profit of ₹289.44 lakh for the quarter ended June 30, 2026, rising 63% from ₹177.35 lakh in the same period last year. The Mumbai-based textile manufacturer saw its revenue from operations increase to ₹19.50 crore from ₹16.25 crore in Q2FY25, reflecting continued operational momentum following its recovery in the previous quarter.

The Board of Directors approved the unaudited financial results on August 12, 2026, pursuant to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Vasani & Thakkar, the statutory auditors, issued a limited review report confirming that the financial statements disclose all required information and contain no material misstatement. The results were prepared in accordance with Indian Accounting Standard 34 "Interim Financial Reporting" under Section 133 of the Companies Act, 2013.

Financial Performance

Total revenue reached ₹19.98 crore, comprising ₹19.50 crore from operations and ₹48.20 lakh from other income, compared to total revenue of ₹16.50 crore in the prior year. Operating costs remained contained, with total expenses standing at ₹16.24 crore. Cost of materials consumed was ₹15.50 crore, while employee benefits expense increased slightly to ₹40.68 lakh from ₹37.03 lakh in the corresponding quarter. Other expenses decreased marginally to ₹30.71 lakh from ₹28.30 lakh, contributing to improved profitability.

For the nine-month period ended June 30, 2026, the company posted a net profit of ₹666.25 lakh, significantly higher than the figures recorded in the same period last year. Earnings per share stood at ₹293.67 for the quarter, compared to ₹179.94 in Q2FY25.

What the Numbers Show

The most notable aspect of Victoria Mills’ Q2FY26 results is the acceleration in profitability, with net profit growing at a faster rate (63%) than revenue growth (20%). This divergence highlights effective cost management, particularly in controlling material costs relative to revenue generation. The consistent positive contribution from other income, alongside stable employee benefits despite higher operational volume, underscores the scalability of the current business model. The absence of finance costs further supports the clean balance sheet structure, allowing operating efficiencies to flow directly to the bottom line.